Trends and statistics In our recent customer survey addressing attitudes towards Life Insurance for seniors, it was recorded that many Australians may be neglecting their personal insurance needs. The survey revealed that 53% of older Australians, aged 55 – 60, are likely to have Life/Death cover compared to 30-34 year-olds (72%) and 35-44 year-olds (68%). The survey of more than a thousand people also discovered Baby Boomers are least likely to have Total and Permanent Disability Insurance (TPD), with the survey revealing just 37% of 55- 60 year-olds are likely to be covered, considerably less than 30- 34 year-olds (47%), 35- 44 year-olds (53%). The need for Life insurance is perhaps...
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Open: 8:45am to 5:30pm, Mon - Fri Retirement is a long-term game. With Singaporeans expected to live between approximately 80 and 85 years-old , your parents will likely have close to 20 years in retirement from the official retirement age of 62 today. Importantly, once they go into retirement, it is often difficult to return to employment as they would have lost key skills and contacts in the working world. This is why it is important for them to have a robust retirement plan before they do so. This is where you can help your parents achieve a less stressful retirement. No doubt, bringing you up, clothing you and feeding you took a toll on their financial well-being. Out of love, they may...
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THE POPULATION of seniors – broadly, those aged 55 and above – has been increasing across Europe, and Slovakia is no exception. This brings at least two main challenges: first, society has to find a way to cope with this demographic change and the effects that having a higher share of seniors will mean in terms of health and social care; second, the growing group of elderly represents a challenge for firms who want to develop products tailored to such clients. Companies in the insurance sector are among such firms, especially given that Slovak seniors have not before been targeted to purchase life insurance. THE POPULATION of seniors – broadly, those aged 55 and above – has been increasing...
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KUALA LUMPUR: The government is likely to revise the national target of a 75 per cent life insurance penetration rate in 2020, as it is still some distance away from the present rate of 55 per cent, said Finance Minister Lim Guan Eng said. If the 75 per cent target was not achieved by next year, the government would carry out an assessment to look into the problems, he said. “This (75 per cent) target is not set by the current government. We have to see what is the outcome next year. If there is a shortfall, we will see what more needs to be done. “(Let’s) wait until 2020 when we see the result; definitely, there will be a revision,” he told reporters after launching Menara Prudential at...
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Term Life Insurance for Senior Citizens Senior citizens are welcome to apply for term life insurance, and it can be a valuable asset, particularly in one's later years. It is wise to know the details before applying, as there can be a few pitfalls in the planning and it's important that you get it right. You have four term life insurance options available to you: Term insurance that allows you to register for coverage without undergoing a medical examination. However, you should expect high premium rates. Level term insurance, as the name suggests, means premium prices are static for the entire policy term. The thing to watch for here is the fact that rates can dramatically increase when...
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Life Insurance for the Elderly and Senior Citizens Should you be blessed in not having any pre-existing conditions and you lead a healthy lifestyle, you may qualify for the lowest premiums and higher coverages. If you do have certain pre-existing conditions, you may still get decent coverage and rates by allowing us to shop the market of all the top carriers throughout the country. If you have severe pre-existing conditions such as cancer or cronic heart disease, life insurance for elderly is still available from certain carriers that specialize in offering policies to people with high risk life insurance chronic health conditions. Senior Life Insurance Rates Like all life insurance, rates...
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Ella Beck bought a life insurance policy shortly after her husband died in 2007. She was 71 at the time and concerned about burdening her sons with her own eventual funeral costs. Spotting an ad on TV – one of those ‘no medical exam, no questions asked, guaranteed acceptance’ policies – the grieving widow purchased what is now called BMO’s Guaranteed-Life Plus policy, paying premiums of $30 per month for a death benefit of $3,200. If you just did a double-take at the high premium / low death benefit amounts, you’re not alone. That’s because a guaranteed issue life insurance policy is a bad deal – a last resort policy for the small number of...
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When you start to consider purchasing life insurance for seniors over 70 you may be met with many confusing options. Life insurance agents have a way with complicating the purchase, when in actuality life insurance can actually be made simple. Considering life insurance at this age used to be unheard of, but now its financial planning importance has started to become more important to most families. Many people who are considering a life insurance for seniors over 70 policy may even be purchasing their first policy, while others are adding to additional coverage. After speaking with most families in this age range they are very shocked to hear just how affordable a life insurance policy can...
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Life Insurance Center Should I By Life Insurance For Seniors? Article 11 of 12 in Is Life Insurance Right For Me? You have reached your golden years and have attained the status of senior citizen. Because you still want to make sure that your family has no financial hardships after you are gone, you will need to make sure your end of life planning is in order. Life insurance for persons 60 and over is still obtainable and can be a good option to plan for your family's financial future. It may cost a little more, but depending on your health you can still get senior life insurance that will satisfy the needs of your family. As a senior citizen, you probably won't need the same level of life...
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Shopping for Life Insurance does not have to be difficult, and by using the proper tools individuals can quickly find the best insurance to fit a seniors needs. Seniors are consistently bombarded with different insurance agencies persuading them to join their plan. With all the different plans available out there, it is difficult to choose one. Here are some tips when shopping around for life insurance for seniors. Ask Around– Talk to individuals who have shopped for life insurance for a loved one or for themselves, and ask about the advantages and disadvantages of each plan. Ask individuals who hold a similar lifestyle, to the senior you are inquiring about. Do not be afraid to ask...
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