Types of Life Insurance Plan for Families in India Choosing a life insurance policy for family/ loved ones can depend on multiple factors such as the number of members in your family, do they have kids or not, the probability of suffering from a critical ailment/illness, and other savings and investments plans. There are various options available that one can select from. Let’s take a look at some of the types of insurance plans and how family life insurance quotes differ from one company to another: Term Insurance Plans Term plan is one of the most common types of life insurance policy available to individuals. It is a fixed-term plan in which the life assured pays the insurer a...
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If you have a family, odds are, you need life insurance. If you die, your designated beneficiary will receive a lump sum death benefit. This benefit helps pay for any financial obligations your partner can’t manage on their own. Optionally, it can cover education and living expenses for your children. You’ll generally purchase a life insurance policy for yourself, and your partner will buy their policy. Sometimes, situations warrant extra coverage for events beyond your death, like coverage if you become disabled or critically ill. Sometimes you’ll even need coverage for your children. In these cases, a bundled insurance policy called family life insurance is available. This insurance...
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Most people would agree that life insurance can provide a huge benefit for your family. It helps you prepare for the uncertainties of life and provides you with peace of mind knowing that your family will have financial help if something were to happen to you. If you’re the breadwinner of the household, you want to be sure you have enough life insurance coverage to help your family pay the bills when you’re gone. Even if you’re not the primary breadwinner, life insurance can be a godsend for your family. Some ask if those who don’t earn an income need life insurance. There are a number of reasons why it makes sense: if the family member passed, it may be a financial hardship to pay for...
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Let us explain Family Life Insurance Taking out family life insurance can be daunting for many people, as it’s an insurance often against the unthinkable. Sadly, the unthinkable can happen and it’s important to know that with life insurance, your loved ones will be looked after with a financial safety net to ensure that: Mortgage/rent costs, bills, childcare, debts etc. could all be paid for. The quality of life that they're used to can be maintained (or even enhanced). Unnecessary stress and worry is avoided at a difficult time. As with many insurance products, there’s lots of terms that risk sounding like jargon. So at Cavendish Online, we’ve put together a brief guide to explain what...
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1 Cost of raising a child Top According to the Child Poverty Action Group, the cost of raising a child, excluding housing and childcare, from birth to 18 is £75,233 for a family with two parents and £101,883 for a single parent. Possibly the most expensive time is before they start school. For more information on costs for the early days, read Starting a family – how much does a baby cost? If you choose to return to work during the early years, then brace yourself for the childcare bills. The average cost of full-time childcare in the UK is between £220 and £250 per week for a child under two. In London the figure jumps to £330. Spare a thought for those with twins! There is some...
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Financial literacy has long been an issue in South Africa. Developing a national savings culture, ensuring consumers understand how to use credit responsibly and banking the un-banked are just a few of the top line issues we have sought to address since democracy, with varying degrees of success. However, much work still needs to be done, especially as we enter the post Covid-19 “new normal”. Experts agree that the economic downturn sparked by Covid-19 is likely to see South Africa experience significant job losses. Within this context, managing debt is going to be difficult for many South Africans. In a December 2019 article, BusinessTech laid out some stark South African debt...
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If you wake up in the morning, look in the mirror and think, ‘Wow, my family is lucky to have me’ then congratulations, your self-esteem game is strong. But, many of us don’t tend to give it much thought. We take for granted that we’re able to spend time with and provide for our families. And this, in a nutshell, is the importance of life insurance. If you had to stop and think about it, the feeling that comes with being able to look after your family and your dependants is pretty amazing. You get to show exactly how precious they are to you by keeping them safe and comfortable. But, life can be about as unpredictable as the quality of aeroplane meals, and you don’t know for sure that you’...
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HOUSTON--( BUSINESS WIRE )--David Harris, CEO of ManhattanLife, announced today the acquisition of Standard Life and Casualty Insurance Company, expanding the company’s growing national footprint and complementing their already robust product offerings. Incorporated in 1946, Standard Life and Casualty offers a diverse portfolio of high-quality products, including Specialty Life, Health, Accident and Disability. Standard Life has been owned and managed by John Piercey, his son Brad Piercey and the Piercey family for more than 41 years. John is Chairman and Brad is CEO and President. Brad Piercey will continue in his role as President. “This acquisition significantly broadens our multi-...
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Family Funeral Cover Planning your financial future may include pensions, investments and real estate, but arranging family funeral cover is a key element of your finances too. Whilst many people avoid making end of life arrangements, securing the best family funeral cover can give you unparalleled peace of mind. What’s the best type of family funeral insurance? Like all types of insurance, funeral cover can vary dramatically. Different providers may offer varying terms, whilst individual providers often have various different policies to choose from. To make sure you get the right policy for you and your family, it’s important to compare funeral insurance before you make any...
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For buyers who need life insurance that lasts until death, builds cash value and offers flexibility in payments and benefits, universal life could be the right choice. Unlike term life, universal life insurance covers you for your entire life. Unlike whole life, you’ll earn market-based interest on your account balance. That increase in control compared with whole life insurance comes with more responsibility and increased variability. If that doesn’t sound like a burden to you, universal life can be a good choice. What universal life insurance is Universal life insurance is a type of permanent insurance, covering you until death just like a whole life policy. Universal life policies have a...
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