How to choose the right family life insurance Updated 03 November 2022 ‘Family life insurance’ is really just another name for life insurance. It’s not a special type of insurance, but is a very good description of the main benefit of life insurance: protecting your family. But it’s far from the only way of protecting your loved ones financially. Here’s everything you need to know about getting family life insurance, what it entails and whether it’s right for you. What is family life insurance? When people take out family life insurance, they are trying to ensure that their children and/or partner will have enough money to support them in their event of...
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Hi, my name is Daphna Schwartz and I am a lawyer with Feldstein Family Law Group. Today I am going to talk to you about life insurance as it relates to child support and spousal support. The obligation on a payor to provide spousal or child support to his or her dependents is one that the law takes very seriously. Whether in a separation agreement or as ordered by the court, the maintenance of a life insurance policy is a necessary security measure to ensure that the payor’s dependents, to whom spousal and child support is owed, are not left financially destitute in the event of the payor’s untimely death. In fact, courts are given broad authority under family law statutes to...
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The Importance of Life Insurance during the Covid-19 Pandemic In the middle of a crisis, financial difficulties are proving the importance of a life insurance plan for covid. Many people around the country have seen how this financial product can be highly beneficial to policyholders during these hardships. The various benefits of life insurance during covid can help people deal with uncertainty in a variety of ways. There are many reasons why covid insurance and life insurance plan for covid proved to be extremely valuable during the pandemic, such as providing fixed compensation as part of the life coverage and generating returns. Here are a few tools that you would need to safeguard your...
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Philippines: (02) 8 528 2000. We are open Monday to Friday between 7:30 AM to 5:00 PM, and Saturday between 8:00 AM to 12:00 NN Life insurance benefit can vary depending on age and payment amount. Conversion of life insurance coverage to retirement savings is done by voluntarily reducing coverage down to 5x your yearly payment (dial-down option) upon reaching age 60 or after 10 years, whichever is later. Premium period is not guaranteed. In the future, if the account value becomes insufficient to pay for charges, it is possible that additional premiums (i.e. top-ups) will be required to continuously enjoy the benefits of this plan and its riders. Please consult your Financial Advisor or...
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Purchasing Life Insurance For Someone Else While buying life insurance for someone else is possible and legal, there are restrictions that must be followed. You cannot purchase life insurance for a total stranger, or for someone else without their knowledge. Costs will vary according to the individual being insured, the older they are, the more it will cost. Buying Life Insurance For a Family Member To purchase life insurance for a family member (i.e. parent - mother, father, grandparent ) or child, you must be able to show that your have an "insurable interest." This simply means that you are related by blood or marriage to the person for whom you are purchasing the policy. Most times, you...
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Philippines: (02) 8 528 2000. We are open Monday to Friday between 7:30 AM to 5:00 PM, and Saturday between 8:00 AM to 12:00 NN Life insurance benefit can vary depending on age and payment amount. Conversion of life insurance coverage to retirement savings is done by voluntarily reducing coverage down to 5x your yearly payment (dial-down option) upon reaching age 60 or after 10 years, whichever is later. Premium period is not guaranteed. In the future, if the account value becomes insufficient to pay for charges, it is possible that additional premiums (i.e. top-ups) will be required to continuously enjoy the benefits of this plan and its riders. Please consult your Financial Advisor or...
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Many people think they’ll get to purchasing life insurance…eventually. It could be that you’re young and healthy, worry that the insurance jargon and the process are intimidating, or maybe you just have other priorities right now. But time spent planning for the unexpected could be the best legacy you’ll leave for your family. Are you the primary or sole income earner in your household? Do you have children or other dependents? If you answered “yes” to either of those questions, you should have a life insurance policy in place to help prepare your family for the unexpected. Life insurance needs are as unique as the policy holders. To determine your life insurance coverage, consider the...
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Do I need life insurance? “Some people probably don't know they need life insurance, or they feel they can get by without it.” - Marv Feldman, president and CEO of the LIFE Foundation Does the above statement surprise you? The reality is that without life insurance, many people may face an uncertain future. Stop and think for a moment about how your life is today. For example, let's say you are a two-income family earning enough to comfortably handle the mortgage, car payment, and other monthly expenses. You're fortunate that with two incomes, you can set aside funds for the future that include saving for retirement, college, and even a little extra for emergencies. The rewards...
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Are you neglecting your life insurance requirements and putting your family at risk? Written by Jamie Bubb-Sacklyn on November 19, 2018. It’s always interesting to pick up on common themes that come up in my client review meetings. One thing that I have noticed a lot recently is that while most people keep a close eye on the wealth creation side of things, and regularly review how their assets are performing, wealth protection is often neglected. Protecting your wealth should be a fundamental part of your financial plan which is why I always take the time to discuss this with clients. This is fortunate as I often find that they have no, or insufficient, protection in place. This puts their...
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HORSHAM, Pa.--( BUSINESS WIRE )--The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, recently received a 2020 North America Disability Matters Marketplace Award recognizing efforts for outreach and engagement with consumers with disabilities and those who have children and other dependents with special needs. Meg Muldoon, assistant vice president, advanced markets, accepted the award on behalf of the company. Penn Mutual was honored for developing Advocating for a Bright Future - a company-wide initiative to train and equip Penn Mutual field leaders and financial professionals on how to incorporate the benefits of life insurance as part of a comprehensive special...
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