This article was originally published on Bankrate.com. Although you cannot take a life insurance policy out on just anyone, you can take a life insurance policy out on another person under certain circumstances. Life insurance is typically purchased to provide financial security to dependents or beneficiaries in the event of an untimely death of an insured individual. To purchase a policy on another person, you must have their consent while simultaneously proving that their loss could put a negative strain on your current financial situation. The following guidelines can help you determine whether you should take a life insurance policy out on someone else. How a life insurance policy...
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When it comes to qualifying for life insurance, providers are going to assess several things. Getty Images Life insurance provides a way to leave money behind for loved ones when you pass away. Further, it can offer various benefits during your life. But who can qualify? Getting approved will depend on a variety of factors, including the state of your health, finances, lifestyle choices and more. Here's a closer look at life insurance overall and how to qualify. What is life insurance? Life insurance is a type of insurance coverage that pays a death benefit to your chosen beneficiary when you die. It can help to cover your end-of-life expenses, pay off your outstanding debts and provide...
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Planning To Study Abroad? Make Sure To Get A Life Insurance Policy First An unemployed student is an unlikely candidate for a life insurance policy. But given that nowadays many of them go abroad for higher studies, a life insurance, including a term policy that covers their education loan, could cushion the financial impact on the family should something go a miss. Planning To Study Abroad? Make Sure To Get A Life Insurance Policy First 75 YEARS OF INDIA'S INDEPENDENCE We The People: Pradeep D’Souza -- The Birdman Of Mumbai Pradeep D’Souza, who grew up in a family that adopted stray dogs and took care of sick puppies, is now the keeper of many fragile species, both birds and small...
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Most people get life insurance through their employer because it's easy and convenient. All you have to do is sign up. You don’t have to take a medical exam, and you only have to fill out one form and name a beneficiary. The problem, however, is that the coverage you get through your work probably won’t be enough. To secure the appropriate amount of coverage for you and your family, it's vital to consider buying a supplemental or individual life insurance policy. Here’s why. Why relying on your employer-provided plan might not be enough Life insurance offered by your employer is often included as part of your overall benefits package. While some life insurance coverage is preferable to...
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Insurance can be confusing and it’s hard to know what you really need or want. But here are five very good reasons why you need life insurance. As we grow older, get married, build families and start businesses, we come to realize more and more that life insurance is a fundamental part of having a sound financial plan. Depending on your type of policy, life insurance is fairly cheap, which means there’s no excuse not to get coverage now. Plus, over the years, you’ll find comfort in knowing money will be available to protect your loved ones in the event of your passing. Here are a few other reasons why having life insurance is important. TO PROTECT YOUR FAMILY AND LOVED ONES If your loved...
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Life constantly changes and no one can predict the future, which is why life insurance offers peace of mind that your loved ones are protected financially should anything happen to you. There are many life insurance options available, which is beneficial because that means you can find the best one for your needs and budget. While the global pandemic has put the question of mortality front and center and has more people seeking information, life insurance is really an evergreen need as there’s always value in protecting your loved ones. To help you better understand life insurance, financial expert Salene Hitchcock-Gear, president of Individual Life Insurance at Prudential, answers...
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ERIE, Pa., Sept. 14, 2020 /PRNewswire/ -- Life insurance can pay for final expenses and provide financial security for loved ones left behind, but a new national survey from Erie Insurance shows many people are confused about it. Large percentages of respondents were unsure how various occupations and health conditions might affect who can or can't get life insurance, and many significantly overestimated the cost. Respondents also shared the reasons they first got life insurance, and the reasons they do – or don't – have it now. "Getting a life insurance policy is one of the most important things a person can do to take care of their families and yet, it's a topic that many people don't...
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The coronavirus pandemic and social distancing measures have changed how we do business across industries — and insurance underwriting is no exception. Typically, life insurance underwriting requires a thorough medical examination (as anyone who has ever applied for a policy will know well). This involves an in-person visit, allowing the medical examiner to conduct a blood pressure reading, weight check, blood draw and more. But as we shelter in place and limit contact with others, clients don’t need to head into a lab or invite examiners into their homes. At the same time, the need for financial protection and guidance hasn’t gone away — so as insurers, we need to adapt to this new normal...
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When are you going to get buy a life insurance policy? When is the right time? How much life insurance? Do you need it? This is probably one of the most awkward questions you could ask someone. If the person is close by, you might get a look that says: What the heck! Do I look like someone who’s going to drop dead anytime soon? Ask anyone who has attempted to market life insurance and they’ll tell you that such experiences are very common. Thanks to online marketing, we can talk about the subject without getting those strange daredevil looks that can freeze a man dead in his boots! But then, as you’ll see in the course of this article, planning to die soon is not the point of getting...
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Tesco over 50 life insurance Our Over 50s Life Insurance, provided by AIG, is designed to pay out an insurance amount when you die, providing you’ve had the policy for more than two years. The cash sum could be used to help your loved ones with everyday bills, contribute towards funeral costs or as a gift for grandchildren. You can also place your policy in a trust. Mortgage life insurance is life insurance you take out to cover the cost of your mortgage payments for your dependants if you, or your partner, pass away. Over 50s Over-50s life insurance is a type of life insurance for anyone Over 50s life insurance – typically taken out between the ages of 50 and 80 – is often paid out as a...
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