Insured life

Does Life Insurance Need to be Held Until Death of Insured?, Wealth Management

A 2015 survey of financial advisors by the Lifeline Program confirmed what those of us who work in the life settlement industry confront on a daily basis: Many financial advisors are unfamiliar or misinformed about life settlement transactions. According to the survey, 40 percent of financial advisors only have a limited familiarity with life settlements or are entirely unfamiliar with these transactions. Only 11 percent of the financial advisors who were surveyed had assisted in the sale of a life settlement or had recommended these transactions to their clients. Unfortunately, the lack of familiarity that financial advisors have with life settlements has led to a number of lingering...

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The 10 craziest things insured by Lloyd’s of London, Haven Life

If there were an insurance hall of fame, Cuthbert Heath would be in it. Well, it turns out there is, and Heath—the pioneering 19th-century underwriter, who (somewhat) famously took Lloyd’s beyond its primary products, boat and fire insurance—is a laureate. And for good reason: He essentially invented risk insurance, and took on publicity-attracting gambits like insuring a monkey that was a key player in a vaudeville act. ( According to Lloyd’s, Heath paid up in full after the chimp’s death and had it chimp stuffed. It was then kept in his office as an example of the company’s commitment to its customers.) At Lloyd’s of London, Cuthbert’s creative (and PR-friendly) approach lives on. For...

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CIBC Wood Gundy - Insured Annuity Facts

Insured Annuity Facts What Is An Insured Annuity? An insured annuity is essentially a prescribed life annuity and a term life insurance policy, purchased together. An annuity provides a guaranteed regular income stream, while a term 100 life insurance policy provides a cash payout upon death. The combination of the benefits provided by these products is ideal for those seeking guaranteed income and the preservation of their capital. An insured annuity pays a higher guaranteed after-tax income for life, compared to most traditional alternatives. An insured annuity provides: The highest possible guaranteed income for life. Income security through regular income payment. Some distinct tax...

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Life Insurer Must Pay Benefits to Current Policyholder, Even Absent Insurable Interest Stafford Rosenbaum LLP

Life Insurer Must Pay Benefits to Current Policyholder, Even Absent Insurable Interest The U.S. Court of Appeals for the Seventh Circuit recently issued an opinion on how Wisconsin law addresses life insurance policies where the beneficiary is unrelated to the insured. See Sun Life Assurance Co. of Canada v. U.S. Bank Nat’l Ass’n, No. 16-1049 (7th Cir. Oct. 12, 2016). The decision recites a longstanding common-law rule that “you cannot own an insurance policy on the life of a stranger.” Id., slip op. at 2. But, oddly, it both recognizes and fails to address developments in financial instruments (and Wisconsin law) that significantly undermine this common-law rule....

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Can a beneficiary cash in life insurance policy if the insured person is still alive?

Ask the Life Insurance Expert If I'm the beneficiary of a life insurance policy that’s paid for by a person who’s still living, can I cash it in? No. Only the policyholder can “cash in” a life insurance policy. In some cases, the beneficiary might also be the policy owner, in which case he can access the cash value. The policyholder – the person who owns the policy and is responsible for paying the premiums. The insured – the person whose life is insured. The beneficiary – the person who receives the death benefit when the insured person dies. Depending how the policy is set up, one individual can play more than one role. For instance, the policyholder can...

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Are you adequately insured? Find out how much life insurance you need - The Financial Express

Containing life’s uncertainties is an important part of financial planning. While buying life insurance, people often find it difficult to calculate an adequate sum assured requirement. There are also those people who do not seek life insurance at all, and they thus risk the financial well-being of their families. The objective of a life insurance plan is to ensure that after the demise of the insured person (who is typically a family’s bread earner), his family does not suffer financially. Containing life’s uncertainties is an important part of financial planning. While buying life insurance, people often find it difficult to calculate an adequate sum assured requirement. There are also...

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Demystifying the Concept of Sum Insured Vs Sum Assured

Sum insured and sum assured are among the fundamental terms that an individual essentially needs to understand before choosing a life insurance plan. The two terms are the basis on which a plan is evaluated. Though a novice might interpret the sum assured and sum insured to mean the same, their actual meanings are significantly different. While a sum assured refers to the benefit, the sum insured is the reimbursement of insured loss. Sum insured Non-life insurance policies, such as motor insurance, home insurance and health insurance, which work on the principle of indemnity offer an amount called sum insured. Indemnity refers to the compensation that insurer pays for any loss, damage, or...

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Frequently Asked Questions For Insured Life, Pentacare

Frequently Asked Questions For Insured Life Who is pentacare medical services? Pentacare is a TPA ( Third party Administrator) specializing in health insurance services to manage claims in a very effective and efficient manner. Is Pentacare an Insurance company? No, we are a TPA which works in alliance with Insurance companies and other payers as an administrative support for claims management. What role does Pentacare (TPA) play? We deal in providing complete Health Insurance management and Third Party Administration services to Insurers and other Payers of Healthcare. How do I use my health insurance card? You need to present your Pentacare Health Insurance card every time you visit a...

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Life Insurance for Expats Living Abroad - I m Insured Life Insurance

Cover is available for Non-UK residents with an insurable interest or financial liability in the UK. Examples of acceptable financial liabilities include a mortgage on a UK property, a dependant spouse and/or young children living in the UK. A UK inheritance tax liability. Being responsible for paying a relatives UK private school, university or care home fees. Or a UK company that has overseas key persons or shareholders. If are an expat with financial liability in the UK and have a UK, Channel Islands, Isle of man or Gibraltar bank account to pay the premiums from, we are able to offer products including: Level and decreasing (mortgage) term assurance that provides a lump sum, whole of...

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Second Life Insured Rider (10, 20 30)

Second Life Insured Rider (10, 20 & 30) for Term to Age 100 and Universal Life policies discontinued effective march 31, 2014 The Second Life Insured Rider provides a level amount of term insurance on the second life insured with premiums increasing every 10 years (for the Second Life Insured Term 20 Rider premiums will increase every 10 years after the initial 20-year term, and for the Second Life Insured Term 30 Rider premiums will increase every 10 years after the initial 30-year term). Rider premiums are determined by the age and status of the second life insured. Second Life Insured Riders may be added to new or existing permanent plans of $10,000 or more. The amount applied for...

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