Most people need life insurance, but not everybody knows how much life insurance to get. Many people also question why they should have to insure an event that happens at the end of their lives. You could ask a financial advisor to help, but you have to do your homework before you ask for a life insurance quote. Liberty Life, a South African insurance company, gives the following simple reason to have life insurance: you should have life insurance if anyone depends upon you financially– such as a spouse, children or aged parents– or if you’re helping to pay for a sibling’s university studies or have guaranteed a car or personal loan. If you suddenly died, the people who depend on you...
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3 Dermatologists Tell Us The Affordable Skincare Products They Swear By Optimism In The Time Of Anxiety: A Letter From The CEO The Money Tactic That Finally Cured My Overspending Habit 5 Healthy Habits That Aren't Nearly As Difficult (Or Expensive) As I Thought They'd Be The Surprising, Non-Financial Lessons From My Month Going Sober To Save Money 3 Simpler-Than-You-Think Ways To Ease Yourself Into A Daily Meditation Routine Last September, my now-husband, Peter, and I were…anxious, to say the least. We were in the throes of planning for our upcoming wedding in November, and at that point only had the last, most stressful pieces of the puzzle left: putting...
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The older we get, the more acutely aware we become of human mortality. And as we age, we often think more often of how we can help protect our family members in the case of an untimely death. Life insurance is different from other types of insurance — such as car insurance and health insurance — in that you most likely hope your family will never have to make use of it. However, since death is an inevitable part of life, chances are, your policy will not be purchased in vain. According to a report published by Atidot — an insurance technology company providing AI, big data and predictive analytics tools for the life insurance industry — many people with life insurance policies are actually...
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How much life insurance do I need? From your income to your children’s future education, here’s what to consider when you buy life insurance. Getting the right protection for your life How much life insurance do I need? Is the life insurance I have through work enough? I bought life insurance a long time ago, do I need more now? These are common questions people have about life insurance, and the answers are different for everyone. As an individual, you have your own unique needs and dreams for the future, and you have your own unique family situation. Helen Lee, State Farm agent in Buena Park, California, helps a lot of people with these kinds of questions, and she’s here to offer some...
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Assess Life Insurance Needs If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances. In fact, according to a 2019 study conducted by Life Happens and LIMRA, which closely follows life insurance trends, nearly 50 percent of Americans say that they have no life insurance coverage at all, even though over two-thirds of Americans recognize the need to obtain it. Role of Life Insurance Realizing the role life insurance can play in your family’s finances is an important first step. A critical second step is determining how much life...
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Life insurance isn’t usually a hot topic at social gatherings. After all, nobody really wants to think about death, and we’re all planning to live forever. But…you know what they say about the best laid plans. Most would agree that it’s wise to be prepared for whatever life may serve up, and part of being prepared is securing adequate life insurance protection. How much life insurance do you need? While that answer will vary for every family, a sharp accountant has come up with what’s called the “DIME” method. DIME is an acronym for D ebt, I ncome, M ortgage and E ducation. Use the DIME formula as a starting point in calculating your life insurance needs. D = Debt. If you were to die...
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How to Do a "Needs Analysis" Before you Buy Life Insurance When buying life insurance, don't choose a policy before you understand the financial needs of your beneficiaries. Damon Bates, a vice president at Massachusetts Mutual Life Insurance Co., says most people's thinking is backwards when it comes to life insurance. They decide on the product they want -- whether it's basic term life insurance, permanent life insurance or a combination -- before they consider how much protection they need. "You really need to figure out how much life insurance you want and then think about which product, in that distinct order," Bates says. The best way to determine how much life insurance -- if any --...
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Assess Life Insurance Needs If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances. In fact, according to a 2019 study conducted by Life Happens and LIMRA, which closely follows life insurance trends, nearly 50 percent of Americans say that they have no life insurance coverage at all, even though over two-thirds of Americans recognize the need to obtain it. Role of Life Insurance Realizing the role life insurance can play in your family’s finances is an important first step. A critical second step is determining how much life...
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Assess Life Insurance Needs If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances. In fact, according to a 2019 study conducted by Life Happens and LIMRA, which closely follows life insurance trends, nearly 50 percent of Americans say that they have no life insurance coverage at all, even though over two-thirds of Americans recognize the need to obtain it. Role of Life Insurance Realizing the role life insurance can play in your family’s finances is an important first step. A critical second step is determining how much life...
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has entered the insurance distribution space with a corporate agency license (Photo: iStock) launches new platform for insurance products 1 min read . Updated: 27 Apr 2020, 06:07 PM IST Disha Sanghvi has enteres the insurance distribution business as a corporate agent by launching portal MeraSuraksha.com. The corporate agency license allows the company to sell policies of three insurers. For now it has tied up with ICICI Prudential Life Insurance Co. Ltd. The company has started selling term insurance products and plans to offer general insurance policies too once the Covid-led lockdown eases and normal business activities resume. The platform will provide end-to-end process of...
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