You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by...
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A number of people are still reluctant when it comes to life insurance, mainly because they don't know too much about it. Life insurance doesn't directly benefit oneself. However, it is one of the most important things you need to set up for your household, especially if you're the breadwinner. To arm yourself with more information, here is everything you need to know about life insurance coming from life settlement companies themselves: It can help support your family even if you're gone. If you're the breadwinner of your family, then you're obligated to get life insurance. Without this, your family or dependents will suffer not only emotionally but also financially in case something...
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The app is powered by Indwe, one of South Africa’s largest independent insurance brokers, and integrates insurance expertise and smart tech to help consumers find the right cover that fits their lifestyle and budget Indwe launches new car and home insurance advice app in South Africa. (Credit: Indwe.) Indwe Risk Services today announced the launch of BluPixl – the all-in-one car and home insurance app that lets consumers choose and manage insurance cover according to their needs. The app is powered by Indwe, one of South Africa’s largest independent insurance brokers, and integrates insurance expertise and smart tech to help consumers find the right cover that fits their lifestyle and...
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Online Life Insurance Policy Locator Albuquerque, NM – As of July 19, 2020, 571 New Mexicans have lost their lives to COVID-19. We grieve with every New Mexican who has lost a friend or family member to this horrible virus. When someone passes, in addition to the emotional toll, it can have serious economic consequences for their family, who often have continuing costs even as household income decreases. Life insurance can help provide stability during these difficult times. The New Mexico Office of Superintendent of Insurance (OSI) has received calls from individuals who aren’t able to find information about the life insurance policy of someone who has passed away. Fortunately, the...
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Vital “Signs” – The Importance of E-Signatures in the Life Insurance Transformation Process Summary –Insurers looking to strengthen their customer experience by integrating technology must bring an electronic signature solution to their processes – and there’s no good reason not to! The e-signature is a critical part of digital transformation across many industries. Real estate transactions, legal documents, and most forms of commerce are using electronic signature solutions to increase service offerings and improve turnaround times. So why are so many life insurers still rejecting the trend? The traditional insurance model put a great deal of emphasis on the importance of an in-...
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Who Needs Life Insurance? Life insurance provides cash to your beneficiaries after you pass on. This cash can help your family replace your income, cover your final expenses or major ongoing expenses from mortgage payments to college tuition. Moreover, life insurance benefits are free from federal income taxes. Life insurance is for the living - it allows you to fulfill your responsibilities to loved ones after your passing. Important reasons for buying life insurance: You have dependents - children or other family members (spouse, aging parents, sibling) - and want to be certain that your loved ones are taken care of. This includes: Funds to pay for a caregiver or care for a loved one...
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Whole life insurance policies have been around for decades. In general, these policies are considered the safest option for those looking to provide for their families after death. The pros Guaranteed death benefits Fixed premiums that don't increase with age Option to pay up face value in 10 years, 20 years, or at age 65 Option to borrow against cash value if needed later in life Interest and cash disbursements may be income tax free The drawbacks Interest rate may not be guaranteed (although often there will be a minimum floor rate) Potential opportunity cost with low relative interest rates Premiums aren't flexible and must be paid consistently Indexed universal life insurance Indexed...
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You have heard the term, but you don’t know how it works. You may even be familiar with the strategy, but not aware of the nuances. How might this strategy benefit your clients? And which ones? Why should one use premium financing over other types of loan investment alternatives? Premium financing is a strategy whereby a qualified borrower accesses third-party financing to pay for large life insurance premiums. The insurance companies have constructed specific products for these financed plans to minimize outside collateral and maximize returns. This allows individuals and businesses to leverage current assets, maximizing returns via a predetermined cash flow. Every premium finance strategy...
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Life Insurance Explained All life insurance policies have two things in common Whole, variable universal, term, and more. Life insurance can be confusing and keeping the different types straight can be tough. In general, life insurance guarantees a death benefit to a designated beneficiary after a policyholder dies. Like most policies, life insurance requires a recurring payment known as a “premium” to keep the policy active. Ready to learn more about life insurance? Let's dive in. Not all life insurance coverage is permanent Permanent life insurance is the most common form of life insurance and is designed to keep you covered for your entire life. For some, this may become an...
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A white circle with a black border surrounding a chevron pointing up. It indicates 'click here to go back to the top of the page.' 5 reasons term life is almost always a better choice than permanent life insurance for US households Three evenly spaced dots forming an ellipsis: "...". Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. The lower cost of term life insurance for more coverage is a win-win for your budget and loved ones. Klaus Vedfelt/Getty Images Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like...
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