Kamlesh Rao, MD and CEO, Aditya Birla Sun Life Insurance When does it make sense to revive a life insurance policy? 4 min read . Updated: 19 Aug 2020, 10:18 PM IST Disha Sanghvi A company usually allows revival of a policy during the reinstatement period (two-five years), retaining the financial benefits Having a life cover, especially in these times, is inevitable. Any individual who has financial dependants and liabilities must always remain covered Best to renew contract during a campaign by the insurer Having a life cover, especially in these times, is inevitable. Any individual who has financial dependants and liabilities must always remain covered. Financial protection is put at...
Continue reading...
Protect What Matters Most! Life insurance may be one of the most important purchases you'll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children's education, protect your spouse's retirement plans, and much more. If you're considering securing you and your family’s financial future, we would be happy to review your current situation and offer a few ideas on how you can protect it! Types of Life Insurance: Term Insurance, the most affordable type of insurance when initially purchased, is designed to meet temporary needs. It provides protection for a specific period of time (the "term")...
Continue reading...
Many consumers who are eager to finalise the house buying process often rush into taking out and ceding life insurance without first doing their homework. The ceding of a life policy involves legally transferring a portion of the cover amount to be used as collateral by a creditor in the event that the policy holder is unable to meet their debt obligation. Lee Bromfield, CEO of FNB Life, says when applying for a home loan, banks may require that you take out life cover as security if you do not meet a certain salary bracket. The life cover is then ceded and used as collateral against the home loan to ensure that your loved ones or beneficiaries still have a home in the unfortunate event...
Continue reading...
Hopefully you are happy and healthy as you read this. No one wants to think about the worst happening – but it’s always good to plan for the unexpected. Making sure that your family and loved ones are taken care of gives you peace of mind and a sense of security. Buying life insurance may be a little overwhelming – especially if you are a first-time buyer. To help you sort out your priorities, here are a few tips to keep in mind. Know the basics of life insurance Let’s take a look at two of the most basic life insurance types: term life and whole life. A term life policy provides the simplest form of insurance at the lowest cost for a fixed period of time. There’s no cash value. However,...
Continue reading...
Do You Understand Your Insurance Policy? Your life insurance may be a predatory policy. Some policies are intentionally deceptive and don’t provide the coverage you think you’re paying for. Will your life insurance policy be there for your family when you pass away? Did you sign up when you were young to lock in a great rate you’ll be able to afford for years to come? You might be surprised to learn the dirty little secrets that insurance companies don’t want you to know. Today we’ll talk about how some policies are designed to become unaffordable when you really need them. I’ll help you understand the basics of how life insurance works, how predatory universal life policies are designed,...
Continue reading...
Whole Life Insurance Policy by Nationwide What's more important than the lives of those who depend on you? If something were to happen to you, you would want everything to be in order for them. A Nationwide YourLife whole life policy can help meet your family’s needs in the event of your death. As your personal situations change (e.g., marriage, birth of a child or job promotion), so will your life insurance needs. Care should be taken to ensure this product is suitable for your long-term life insurance needs. You should weigh any associated costs before making a purchase. Life insurance has fees and charges associated with it that include costs of insurance that vary with such...
Continue reading...
What is paid-up life insurance? Can anybody have a paid-up life insurance policy? How do I know if my life insurance policy has a paid-up option? What are the benefits of paid-up life insurance? These are just a few of the questions that probably pop into your head when you hear the term paid-up life insurance. And for good reason. Is there really a way to have life insurance coverage that is paid-up immediately? Paid-up life insurance could be described as a life insurance policy that is paid in full, remains in force, and you don’t have to pay any more premiums. But it’s not really as simple as that. Paid-up life insurance is only an option for certain whole life insurance policies. Whole...
Continue reading...
Life Insurance in Massachusetts All life insurance policies pay a cash payment when a person that is covered dies. Life insurance can be used to provide care to a spouse after passing or people who are dependent on them. Others want to leave a gift to several family members upon their death. There are several types of policies for you to choose between from Vargas...
Continue reading...
What Is Whole Life Insurance? Whole life insurance is exactly what it sounds like — protection for your whole life. This means you’re guaranteed permanent life insurance coverage* and your beneficiaries will receive a death benefit regardless of when you pass away. What Types of DreamSecure Whole Life Insurance Do We Offer? At American Family Life Insurance Company, we understand that every person and family is unique — that’s why we offer five Whole Life Insurance options you can choose from to meet your specific needs. In addition to DreamSecure Children’s Whole Life Insurance and DreamSecure Senior Whole Life Insurance, we offer: DreamSecure Pay to 65 Whole Life Insurance Add to your...
Continue reading...
Frequent contributor and columnist John Kador questioned whether a universal life insurance policy he purchased in 2007 continues to meet his current financial requirements. We asked a number of insurance experts to examine the policy and suggest the best course of action. This is Kador’s report on what the experts advised. In a subsequent article, Kador will report on the decision he made and its consequences. In 2007, I purchased two insurance policies from an insurance agent who was a member of my Rotary Club. One policy is term insurance with a $150,000 death benefit. The other is a universal life insurance policy also with a $150,000 death benefit. Both policies are underwritten by...
Continue reading...
