Life insurance serves as one of the most important pillars to sensible financial planning. Yet securing a policy is not a task many people tackle proactively. While life insurance is universally essential, there seems to be confusion and skepticism due to its unique complexities. Plus, the process of obtaining life insurance is lengthy. There can sometimes be an aura of morbidity around the subject that people tend to want to avoid. But life insurance is important as you plan for the unexpected. The fact is that death is a part of life, and planning for your absence does not need to be a melancholy experience. In fact, life insurance can provide a valuable peace of mind for the policyholder...
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Mera Mediclaim Plan: Combo of health and life insurance in a single plan – Check features © Provided by The Financial Express Mera Mediclaim Plan: Combo of health and life insurance in a single plan – Check features © Provided by The Financial Express Combo of health life insurance, single plan,health insurance benefit, premium, discount, tax benefit, section 80c If you want to buy health and life insurance as a single policy, there’s a good piece of news for you. PNB MetLife Insurance (PMLI) and Religare Health Insurance (RHI) have joined hands to help you in protecting your family’s health and ensuring a secure financial future for your loved ones, even when you are not around....
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NRIs can get Section 80C tax benefit on premium paid for a life insurance plan 3 min read . Updated: 12 May 2020, 01:43 AM IST Archit Gupta NRIs are also allowed to deduct property tax paid and 30% standard deduction on rental income less tax paid NRIs are allowed a maximum tax benefit of ₹ 1.5 lakh under Section 80C for the premium paid on an insurance policy. The rental income has to be reported under the head income from a house property. Note that the tenant may be cutting tax deducted at source. While reporting rental income, you are allowed to deduct property tax paid and 30% as a standard deduction on the rental income less taxes paid. From the remaining income, you can claim...
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You are here Financial Planning with Life Insurance Financial Planning with Life Insurance Submitted by Brookhaven Wealth Management on May 1st, 2017 Many people are familiar with the basic concepts of life insurance and understand that some level of protection is a necessary part of modern financial life. The question of what life insurance can actually accomplish, when considered as part of an overall financial plan, is more involved and worth a closer look. When considering life insurance start by reviewing your goals A good life insurance plan starts with your goals in mind and a conversation between you and your financial planner. Instead of limiting the scope of what you discuss with...
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We all want to live a long and healthy life to protect and be with our loved ones. However, the uncertainties of life can affect our responsibilities towards them. Have you at any point thought how your family might survive in your absence? This sense of fear can be reduced through term life insurance as it offers complete financial protection to your family when you will not be with them. Not convinced enough! Here are some prime advantages of term life insurance that will make you understand why it is a beneficial option to secure your family’s future. Affordable: Term life insurance is the most reasonably priced life insurance when compared to others. It offers a high life coverage...
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Federal Life Insurance Company partners with Senior Market Sales, Inc. to expand into the Medicare Supplement Market RIVERWOODS, Ill., April 30, 2020 (GLOBE NEWSWIRE) -- Federal Life Insurance Company (Federal Life) is pleased to announce it will be offering new Medicare Supplement products through a distribution partnership with Senior Market Sales, Inc. (SMS). Federal Life will offer a competitive High Deductible G plan in addition to the other plan types, including A, F, G, and N. The new plans will be available for sale in select states starting June 8, 2020. “Federal Life is excited to offer a suite of competitive Medicare Supplement insurance plans in partnership with the senior...
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Term insurance with return of premium and limited pay premium plans are seeing increased customer interest The investment habits of consumers with respect to life insurance products is changing rapidly. Individuals have their own perception towards various types of investment plans. The most common perception among investors is ‘what or how much will I get in return?’ And then there are investors who wants to utilise their hard earned money in the most productive way possible. To better match the needs of their customers, insurance companies are continuously looking for ways to offer more customised products depending on their age, wealth, life stage and more. Addressing the vast variety of...
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A qualified retirement plan may purchase life insurance to provide death benefits. Such a purchase must be authorized by the plan document but the decision to buy a policy may be made by either the plan administrator (employer) or the participant. In a Defined Contribution plan, the policy is part of the participant’s account. In a Defined Benefit plan, the death benefit is part of the definitely determinable benefit provided to the participant by the plan. INCIDENTAL BENEFIT The purchase of life insurance must be incidental to the primary purpose of providing retirement benefits under the plan. Under treasury regulations, this incidental benefit results in limits being placed on the amount...
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This site was created and intended for use only by financial professionals. Brighthouse Financial, its agents, and representatives may not give legal, tax or accounting advice and this document should not be construed as such. Clients should confer with their qualified legal, tax and accounting advisors as appropriate. Like most insurance policies, Brighthouse Financial policies contain certain exclusions, waiting periods, reductions, limitations and terms for keeping them in force. All policies and riders may not be available in all states. Ask your representative for complete details Brighthouse Financial, Charlotte, NC 28277. Most people understand the importance of purchasing life...
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While most people may look at life insurance proceeds simply as a way to pay off debt or to replace the insured’s income, there are tax-related benefits that can make life insurance policies a viable planning tool in other areas of your finances. Certainly, one of the primary advantages of life insurance is that death benefit proceeds go to the beneficiary income tax-free. This means the recipient of the funds can make full use of the money for paying off debt, replacing lost income or meeting other important needs during a difficult time. Although term life insurance provides only pure death benefit protection, permanent life insurance is a different story. Permanent life insurance...
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