When you buy a term insurance plan, it comes with the option of receiving the total sum assured – also known as death benefit – either as a lump sum or in the form of staggered payout. Term insurance has undoubtedly gained great popularity amongst the working class over the last few years. A major reason being – it provides maximum value for your money invested over a term of 20 to 50 years. Moreover, for anyone seeking the maximum insurance coverage at the lowest premiums, term insurance is the ultimate solution. No wonder, people looking for financial security for their loved ones usually prefer investing in term insurance. Now, when you buy a term insurance plan, it comes with the...
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How does life insurance work? Every month, you’ll pay money to your life insurance provider. When you die, they’ll pay a lump sum or a regular monthly payment to your family, depending on the plan you choose. There are 2 types of life insurance: term life insurance and whole-of-life insurance. Term life insurance These policies run for a set amount of time, which is known as the term of the policy. If you only want to cover your mortgage, for example, term insurance may be more appropriate, as you could match your insurance term to the length of your mortgage. You can also choose to lower the level of cover over time to match the decreasing amount left on your mortgage. This is called...
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With new and more complex diseases coming to light, having a health insurance policy has become extremely important. However, with so many insurance options available to you, finding the right plan for your needs can be a little tricky. A health insurance policy should be selected based on proper research and comparison. Investing both time and effort in choosing just the right insurance cover pays off should a medical emergency arise. Here are five ways just the right health insurance helps you in the long run: 1. More Cash In Hand: The best available insurance coverage for your family covers any sudden expenses that may arise out of a medical emergency. The timing of a health-related...
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Combining life cover & customized pay-outs for financial needs MUMBAI, India, July 24, 2020 /PRNewswire/ -- Key Highlights: Comprehensive Income plan providing insurance cover and regular income in changing markets: Till ages 75/85/99 Ensures regular income to family even in case of Life Insured's death or diagnosis of critical illness with the nominee eligible to enjoy benefits up to the policy term of 99 years Provides flexibility to draw an income either early (at the end of 2nd policy year) or after the premium payment term Provides an option to choose from level and increasing income Caters to the needs of wide range of age groups. Entry age ranges from 0 to 65 years with the...
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How to find a good life insurance broker If you’re shopping for life insurance, what difference can a broker make? You may think that in the days of price comparison sites, you can find the best policy for yourself in a couple of hours. But there can still be major advantages to using a human go-between who is an expert in life insurance – particularly if you have any special requirements that might make your life insurance more costly or harder to get. Here’s why it can often be better dealing with an unbiased expert rather than with a comparison website. What is a life insurance broker and what do they do? A life insurance broker is an adviser who specialises in life...
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Having a baby is great (not that I’d know much about it, us menfolk have to deal with the horrors of manflu, how unfair would the lord above have been to lumber us with pregnancy too). But those days after baby arrives, they suck – all that projectile puking, pooing and peeing, lack of sleep, making bottles, changing nappies, mouli-ing vegetables and worst of all minding his nibs if you had the sheer audacity/stupidity to have a few beverages the night before. Kill me now! say it’s the best time of their lives – they need help. They’re the same nutters that say your schooldays are the best time of your life – more lies, unless you enjoyed getting spots,...
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There's certainly been plenty of volatility and uncertainty the past few months, but one aspect of your financial picture has probably remained stable: your need for insurance. And since National Insurance Awareness Day is observed on June 28, now is a good time to review your overall insurance coverage to determine if you and your loved ones are well-protected. You might be surprised at the lack of protection among your fellow citizens. Less than 60 percent of Americans have life insurance, and just about half of those with insurance are underinsured, according to LIMRA, a research organization. Of course, you might think the reason so many people don't have insurance is because they don't...
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Your financial obligations don’t stop when you die. Many are passed on to your surviving spouse, children, or parents. Your unexpected death could leave loved ones responsible for funeral costs, debt, and taxes, and for living expenses your income currently covers. To ease the financial burden, many people buy life insurance, a type of insurance that pays out a benefit to your beneficiaries — such as a spouse or children — if you die. Life insurance comes in many forms, and what kind of policy you buy determines what kind of protection your beneficiaries receive. Not everyone can qualify for life insurance, so many policyholders instead purchase a policy called accidental death and...
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It's time to think about protecting our family as best we can OUR news screens have been filled with only one story lately – but are we in danger of forgetting the bigger picture, when it comes to our health? Even as we all go a bit lockdown loo-lah, we have to think of protecting our family from the financial fallout of other diseases which seem to have taken a back seat at the current time. Here are some new facts, hot off the presses at Macmillan Cancer Support and other experts, about the three main critical illnesses: cancer, stroke, and heart attack, and what it could cost if you get sick. Macmillan say there are 363,000 new cases of cancer in the UK every year. That's one new...
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Different Type of Life Insurance Policies Life insurance is an umbrella term that covers various types of life insurance plans under it. These are listed as follows: Term Insurance Term insurance is a popular type of life insurance that is bought for a fixed period of time that may range between 5 to 30 years. A term insurance policy is the cheapest policy in comparison to other life insurance policy, as it contains no cash value, and thus no maturity benefits are availed on the survival of the insured. It is ideal for people who just wish to arrange funds for their families in the unfortunate event of their death. Unit Linked Insurance Plan (ULIP) A unit-linked life insurance plan serves...
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