Article content This article was created by Wise Publishing. While Postmedia may collect a commission on sales through the links on this page, we are not being paid by the brands mentioned. There’s one very good reason to get life insurance that isn’t often covered, because most articles are focused on when you need to get life insurance. Life insurance — ideally term — is a must if you have anyone who depends on your income to maintain their standard of life, like a kid or a partner. But just because people aren’t relying on your income doesn’t mean you might not want to leave them something if you died. That’s where wanting, not necessarily needing, life insurance comes in. Provide for...
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Welcome to #Adulting , the ultimate breakdown of all your grown-up needs. These articles are here to help you feel less alone and answer all your personal, financial, and career questions that weren’t answered in school (no judgment, we get it!). Whether you’re looking to find out how to tackle laundry or you want a deep breakdown on how to make a savings plan—we’ve got you covered. Come back every month to find out what life skills we’re upgrading next and how. Life insurance feels like one of those “adult” things you don’t have to think about, just like retirement plans and mortgages, until you’re much older. But with the coronavirus (COVID-19) pandemic continuing on across the U.S.,...
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Buying life insurance is essential because it is the best way to protect your loved ones and their financial interests in your absence. It is a crucial financial decision and even an emotional one, sort of. After all, it is about loving your family members and caring for their future. There are millions of people who buy a life insurance policy for reasons that are often hard to explain. At the same time, the reasons to buy the policy are also practical and straightforward. That’s the thing about investing in a life insurance policy in India. While the product and the idea behind it are simple, the reasons behind it cut to the very core of your emotional being. Buying a life insurance...
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As the coronavirus pandemic drags on, millions of Americans are still grappling with company layoffs and the loss of employee benefits. If you recently lost your job, you may be eager to replace some of these benefits—including your group life insurance policy. Here are some things to consider as you start to explore your options. Figure out how much life insurance you need Before you start shopping around, you should consider how much life insurance your family needs. Life Happens—a non-profit dedicated to life insurance education for consumers—offers a free calculator on their website to make the process easier. You may get a rough idea by multiplying your gross income by 10-15—and...
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On 1 August 2020 Telkom launched Telkom Financial Services, which includes a life insurance business that will initially sell funeral insurance, written out of a Guardrisk Life cell captive, to its more than 12 million customers. Telkom owns a significant share of South Africa’s mobile market, as of 31 March 2020 the company recorded 23.9% growth in active mobile subscribers, effectively giving it one of the most significant distribution channels for insurance products in South Africa. “In recent years. Telkom has made a strategic shift to digital distribution, which puts it in an ideal position to distribute insurance products using its considerable digital structure and intellectual...
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Jim Lusk remembers going to the wake of one of his clients who had died after being hit by a truck. The client’s widow pulled him aside and asked if she and her kids were going to be financially OK. “I told her, ‘We’re going to pay off your mortgage, all of your debt, all of the funeral expenses, your kid’s college education, and you’ll have enough money so you don’t have to work again. That’s how much he loved you,’” says Lusk, a chartered life insurance underwriter and financial consultant. “‘She left the room and I bawled my eyes out.” It’s the kind of rare story that has driven Lusk to sell life...
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Africa: I'm HIV+, but Can I Still Take Out Life Insurance? opinion By Karen Holden | a City Law Firm HIV status is protected in Britain by the Equality Act, so insurers should be non-discriminatory Karen Holden is an LGBT+ lawyer and founder of A City Law Firm It is a commonly held misconception that those who live with HIV will be unable to obtain life insurance, but your HIV status is protected under the Equality Act and insurance offers should be non-discriminatory. The majority of life insurance contracts in the UK do not have exclusions for any medical conditions, including HIV, if diagnosed after the cover has started. Most policies do not require you to update them of any new...
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FWD Group has agreed to invest in a significant minority stake in PT Asuransi BRI Life, the life insurance arm of PT Bank Rakyat Indonesia (Persero) Tbk. FWD’s agreement to invest in BRI Life follows its recent acquisition of PT Commonwealth Life and the signing of a 15-year distribution partnership with PT Bank Commonwealth in Indonesia. Through the transaction, FWD will begin working closely with BRI as part of the strategic partnership, with the goal of transforming BRI Life into a leading life insurance company in Indonesia. BRI is one of the largest banks in Indonesia, with more than 120 million customers, and is a market leader in micro and consumer banking. According to FWD,...
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Haven Life is one of a new breed of life insurance players aiming to streamline the life insurance shopping process. With Haven Life, you do everything online — from getting a quote to e-signing your documents. In this Haven Life review, we’re going to take a look at the product offerings, how much they cost and what kind of freebies you get when you’re a customer. Here’s What You Need to Know About Haven Life Insurance Buying life insurance is something so many of us know we need to do, but we just don’t get around to it. That’s partly because the traditional life insurance application process is really cumbersome. You used to have to sit down with an...
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The owner of a small company purchased and paid the premiums for life insurance policies on four of its key employees, allowing each to designate their chosen beneficiaries. When one of the key employees left employment, he requested payment of the cash value of his policy. Although no formal plan document outlined such a benefit, the employee asserted that the covered employees generally understood that after a certain period of time, in addition to death benefits, they would be entitled to the cash value of the policies. (Also, a cash value payment had been made upon a previous employee’s termination.) The owner claimed the former employee was not entitled to such benefit. The former...
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