Why Choose Simple Choice? Term life insurance may be an effective financial solution for people who need coverage for a specific period of time. When you have children, a mortgage or other major expenses, life insurance may not be the first thing on your mind. But not having coverage may put your family's financial future at risk. Simple Choice Term Life Insurance may provide affordable protection that helps suit your immediate life insurance protection needs. Your premium is guaranteed to remain the same for the coverage term you select: 10, 15, 20 or 30 years regardless of your age or health. If you pass away at any time during your policy term, your beneficiary will receive the...
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HARTFORD, Conn.--( BUSINESS WIRE )-- The Hartford ’s 2020 Future of Benefits Study found that the pandemic has placed a greater emphasis on employer-sponsored benefits that help people plan for unexpected life events and provide financial protection. According to the study, 40% of U.S. workers say they will consider purchasing life insurance during their next open enrollment as a result of COVID-19. “ The pandemic is shining new light on the benefit programs offered to employees through their workplace, revealing features they might have been overlooking,” said Jonathan Bennett, head of Group Benefits at The Hartford. “ People are facing challenging circumstances – whether it is the...
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Fatten That Policy I WORKED in the investment department of three different insurance companies. But I never had any interest in buying a whole-life insurance policy. I knew term insurance was the best way to get the maximum death benefit for my premium dollars. Instead, as a mutual fund manager, I was always more interested in investing in the stock market. (That said, I didn’t invest in the first mutual fund I managed. Why not? I didn’t want to pay the 7% “load”—the upfront sales commission.) But my attitude toward whole-life insurance changed six years ago. In researching retirement income issues—and getting an insurance license along the way—I learned about “blended” life insurance....
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Terminally cruel: It's the final insult for those in the last months of their lives... insurers who still insist they're not sick enough to get a payout Many policies will pay out early if you are diagnosed with a terminal illness However, some are using small print to deny dying policyholders vital payouts Many firms require customers to prove they have less than 12 months to live 21:50 BST, 1 September 2020 13:55 BST, 2 September 2020 Life insurers could soon face an inquiry into the 'cruel and unfair' way they treat dying customers, Money Mail can reveal. The insurance is supposed to provide you with the peace of mind that your loved ones will be financially secure if you die. Many...
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What is term life insurance? Term life insurance is “pure” insurance. It offers protection only for a specific period of time. If you die within the time period defined in the policy, the insurance company will pay your beneficiaries the face value of your policy. Term insurance differs from the permanent forms of life insurance, such as whole life, universal life, and variable universal life, which generally offer lifetime protection as long as premiums are kept current. And unlike other types of life insurance, term insurance does not accumulate cash value. All the premiums paid are used to cover the cost of insurance protection, and you don’t receive a refund at the end...
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The classic reason to buy life insurance is to provide adequate resources to your loved ones who depend on your income, in case you die prematurely. Life insurance proceeds can: Cover your final expenses, including funeral arrangements Allow your family to pay off the mortgage and other debts Provide an annual income to your family Fund college education for your children Below is more information about the two main types of life insurance. Term life insurance is straightforward life insurance coverage, whereby you pay a fixed annual premium during the policy term and, if you die during the term, the policy will pay a death benefit to your beneficiary. For example, a 30-year level term...
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Experts say term life insurance is the right choice for most everyone, but especially people in their 30s and 40s Three evenly spaced dots forming an ellipsis: "...". Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Experts recommend purchasing term life policies during your 30s and 40s as rates are lower when you're younger, and you're likely to be in a situation where you need coverage for a set period of time. Plus, since term life insurance tends to be affordable, it provides peace of mind while leaving room for people to use their money to build wealth at the same time. Term life insurance is "pure" life insurance,...
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5 important facts your insurance agent won't tell you By Santosh Agarwal Did you know that annual premium-paying option is cheaper than a monthly premium paying option? Let’s all face it. No one really likes to think about life insurance. However, responsible people with a family to provide for and assets to protect, cannot overlook its importance. Having a life insurance plan has become very important. At the same time, life insurance is not a subject that is easy to understand. It involves so many decision points which can be downright overwhelming. Given the different types of plans available, how do you know which one is right for you? Or how much insurance coverage you actually...
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Empire Life launches new term life insurance product By Alain Thériault | January 05 2018 11:30AM Empire Life has launched a new term life insurance product, Solution 30, which has an initial term of 30 years. After that, renewals are on a guaranteed annual renewable basis. Conversion right The product also includes a conversion right that can be used during the 30-year term. Only the initial term premiums and the first renewal term are guaranteed. Rates do not increase after the age of 85 and the policy is fully paid when the insured person turns 100-years-old. Solution 30 is aimed at the mortgage market and the changing needs of young, middle class families, Mike Stocks, vice president...
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LONDON--( BUSINESS WIRE )--AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Misr Life Insurance Company (MLIC) (Egypt). The outlook of these Credit Ratings (ratings) is stable. MLIC and Misr Insurance Company (Egypt) are directly owned by Misr Insurance Holding Company (Egypt) and form part of the consolidated Misr Group. The ratings reflect MLIC’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile, and appropriate enterprise risk management. The ratings also factor in the financial strength of the Misr Group, due to MLIC’s strategic...
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