How Life insurance can help your financial goals Life insurance plans are financial instruments that primarily provide protection against financial risks. There are two types of financial risks that need to be protected against – untimely death and old age. The untimely death of a breadwinner places a family at a risk for future livelihood expenses and during retirement years the income-generating capacity of an individual reduces. Thus protecting future income is very critical. Insurance companies also provide bundled products as a combination of protection and savings. These products help customers create a corpus for expected future needs. Investing in a life insurance product also comes...
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A gift of life insurance that you no longer need can be an easy way for you to provide generous support to the American Red Cross. Your life insurance policy is paid up or has substantial cash value. You have no loan outstanding against the policy. Your family is well-provided for by other means. You would like to make a gift to the Red Cross. Option 1: You give your policy to the Red Cross. As the policy owner, the Red Cross will either cash in your policy and use the proceeds, or maintain the policy until it ends and then receive its face amount. Your benefits will include: An immediate income tax charitable deduction for the value of your policy. No change in your cash flow. The...
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Six unexpected ways life insurance can help protect your family’s future More than just a death benefit, life insurance can help ease the financial burdens for those you are responsible for, throughout your life. You worked hard to help your children succeed, so your financial plans shouldn’t get in the way of their future goals. Consider the possibility of dedicating part of your life insurance benefit to their college tuition. With permanent life insurance, your policy has the potential to accumulate cash value on a tax-deferred basis. Those funds can then be accessed generally tax-free , during your lifetime to help shoulder the cost of college. Protecting your business Business...
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Group Life Insurance has become one of the most popular benefits for small businesses. Whilst some offices are still shut and we move into a new hybrid way of working, many of the perks that were in place prior to lockdown don’t apply; employees are looking for more meaningful benefits that they can utilise whilst they work from home, rather than pizza Fridays and office ping pong tables. How many of the following statements apply to you and your business? My people are now working from home more regularly and can’t use our existing benefits Now more than ever, I feel I have a duty of care to protect and support my employees It’s difficult to provide a cost-effective wellbeing programme...
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An unexpected lesson that we all have learnt from the ongoing pandemic is that the future belongs to those who prepare for it. And what better preparation of future financial security could be there than investing in a robust life insurance plan? A life insurance plan not only helps safeguard our loved ones from financial hardships in our absence, but also ensures that they continue to lead a dignified, secure life when we aren't around. As individuals helming responsibility for our family's future financial security, it then becomes our duty to buy the right amount of life insurance cover needed to shield dear ones from life's various uncertainties. This is where the concept of 'Real Value...
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Life insurance doesn’t just give you and your family peace of mind in case tragedy strikes. It can also help you put down roots and buy that dream home, too. Do you already have a life insurance policy in place? Are you thinking of investing in one? Here’s what to know about borrowing against your life insurance to buy a house. Disclaimer: The information in this blog was not written by a financial, legal, or insurance professional. Before you make any decisions about taking out a life insurance loan, obtain direction from your insurance broker, financial advisor, or tax advisor. What Type of Life Insurance Will I Need? The first step is to have the right type of policy. In order to use...
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Does every life insurance policy have cash value? A "term life insurance" policy can be a great way to help protect your family, especially since many term policies are designed to be affordable. However, a term life policy does not build cash value and can’t help you with retirement. On the other hand, several types of “permanent life insurance” (including “whole life insurance" and “variable life insurance”) put part of the money you pay (the “premium”) into an account you can eventually draw money from. Some people use that money to help pay for things like college education for their children. It’s also possible to use the money for retirement, and to pay less tax on the money if you do...
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ARLINGTON, Va., Sept. 1, 2020 /PRNewswire/ -- Brooke Shields returns as the spokesperson for Life Happens, a nonprofit dedicated to educating consumers about the importance of life insurance and other related products for sound financial planning. During September's Life Insurance Awareness Month (LIAM), Life Happens and Brooke Shields will join together to emphasize the value of life insurance. Following the success of last year's public service announcement (PSA), which reached over 500 million people, Brooke will continue to help spread the message of financial independence, empowerment, and protection through a national TV and radio PSA during the 17 As a successful actor, dedicated...
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Sheila Crowe wants to help the community, and this Saturday she’ll do it by partnering with a local life insurance agent to provide an information booth at Pinky’s SnowCones & Snacks from 2-5 p.m. where people can either sign up for a policy or at least get more educated on the subject. “The best thing you can do is have life insurance,” said Crowe, who owns and operates Pinky’s, which is located at 905 W. 5th Street. “With life insurance, there is a lack of knowledge. You just think it’s expensive because car insurance is expensive, homeowner’s insurance is expensive, but (life insurance) really is not. The younger you are, the better policy you can get for just a couple dollars.”...
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Juvenile Life Insurance Market peaks the principal concerns of this market, and it also gives the detailed prediction of the market. Mostly classified on the segments of top players Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn, AXA, Sumitomo Life Insurance, Aegon, Dai-ichi Mutual Life Insurance, CPIC. The study objectives are to present the Juvenile Life Insurance development in North America, Europe, China and Japan. Market Overview: The Report provides a basic overview of the industry including its definition, applications and manufacturing technology. The report presents the company profile, product specifications, capacity, production value, and Industry shares...
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