How much life insurance do you need? To find the accurate life insurance cover, experts suggest finding out Human Life Value (HLV) considering all aspects of the earning person and dependents Life insurance cover is an amount that gives financial security to your family members in case of your death. It should be sufficient enough to take care of all that you do for your family members. As all families differ in their composition in terms of earnings, expenses and future goals, their insurance cover needs differ. Unless you are a financial planner, it will be difficult for you to find out the exact amount of life insurance that you need. To make things simpler, we help you in finding out...
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The Executor Adviser from Executor.org The Executor Adviser is an advice column created by Executor.org for Legacy. Executor.org's experts aim to help readers with questions about executorship and provide comprehensive, free online resources to guide executors through this complex process. As you are battling through the 100+ steps of settling an estate, you might get lucky: A life insurance company might find you and deliver a large check. It could happen, but it’s unlikely to be that simple. In theory, life insurance companies are supposed to scan the Social Security database for reported deaths. But it's not advisable to assume that they will find you. In recent years, it’s been reported...
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You may have found this this page, after asking Mr Google a question…just like Edith: Hi Nick, I’ve been declined for life insurance through my bank, can you help,? I’m in a bit of a panic as never expected any issues at all. Thanks, Edith And here’s my take on this through the medium of video – taken when I was full of manuflu BTW. I know, I know, I’m such a trooper It’s hard to stomach when your life insurance company won’t offer you cover, especially if you were fully expecting a yes! Why were you declined for life insurance? Declines are quite rare. Not hens teeth rare, but about as rare as Noel from accounts getting a round in If the insurer...
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Estimated reading time: 2 minutes and 17 seconds The most successful businesses cover all their bases. Owners Strategies for the best outcome, but they also plan for worst-case scenarios. And while no one likes to think about the truly unexpected situations such as the death of a key person in the business, it’s important to be prepared. This one of the main reasons why owners consider business life insurance. Should an unexpected death occur, business life insurance can help you protect your family, partners and company. Not only can you use life insurance funds to pay debts, cover expenses or hire replacements, you can also assure creditors and customers that your business is still going...
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State insurance regulators are thinking about the idea of making it easier for life insurance companies invest in stock. A team at the National Association of Insurance Commissioners, the Life Risk-Based Capital Working Group, is asking for public comments on a stock-investment proposal from Allstate Corp.’s life insurance business. Allstate told the working group that, today, regulators impose a big penalty on stock holdings when calculating a life insurer’s risk-based capital (RBC) ratio. Allstate has asked regulators to cut the size of the stock investment penalty for assets used to support products that are designed to lock in the customer’s money for many years, such as payout...
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Life insurance is a major decision for anyone to make. It is more than just choosing a dollar amount but it is also about leaving behind a legacy for your family. It is a great way for senior citizens to ensure all of their hard work is preserved, and that their family will be well taken care of for many years. Life insurance is available for senior citizens and is certainly beneficial, but it’s important to research the different types and compare. In 2009, there were almost 37 million Americans over the age of 65 and 1 in 8 were in this age range. By the year 2030, there will be about 72 million Americans over the age of 65. Many seniors worry that if something happens to them,...
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According to the National Philanthropic Trust, the average American household contributes approximately $2,974 to charities each year. (Fun fact: Utah and Mississippi lead as the most charitable states.) It’s likely that many of these generous individuals wish they could give more, but don’t have the resources. Did you know that you can use life insurance to help your favorite charities? Making a charitable gift through your life insurance can be a win-win for you and your favorite charity. With wise legacy planning, it’s possible to not only stretch your donation dollars and establish a legacy or endowment that lasts, but also benefit from some tax breaks too. Why People Give Money to...
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You may not be aware, but September is Life Insurance Awareness Month. Of course, you probably recognize, at least in a general sense, the importance of life insurance, but do you know the various ways in which it can help you? Life insurance can play a sizable role in your ability to achieve some important financial goals, such as these: • Helping your family maintain its lifestyle. If you are married and have young children at home, you and your spouse may need to work. If you were no longer around and your earnings were gone, could your family still afford to live as they do now? Adequate life insurance can help them preserve their lifestyle. • Helping your children continue...
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Public sector life insurance giant LIC is facing tough competition from private players that are using new-age digital marketing technologies. According to latest data from Insurance Regulatory and Development Authority of India (Irdai), the market share of LIC in terms of first year premium up to May 31, 2019, was 66.08 per cent, down from 67.40 per cent up to May 31, 2018. LIC’s market share fell marginally in the past one year, but over the past five years it has come down substantially. LIC’s share in the overall life insurance business came down from 75.34 per cent in 2013-14 to 69.36 per cent in 2017-18. In tandem, the market share of 23 private insurers increased from 26....
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Purchasing life insurance could be the most important step you take when it comes to protecting your family’s future. When you pass away, having the right amount of life insurance will provide your family with a future that is financially secure. There are many philosophies regarding which life insurance product you should buy, for example, term vs permanent or a combination of both. Our advisors believe in “Needs Based Selling”. Because there is no “one-size-fits-all” solution when it comes to life insurance, our advisors begin with a complete Needs Analysis, which helps them understand your unique needs. Your advisor will explain the options available, and make...
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