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Life insurance: Things you need to know as a parent - Eve Woman

Life insurance: Things you need to know as a parent Investments By Derrick Oluoch Life insurance helps you secure future financial safety of your dear ones (Shutterstock) As a parent, there is nothing you think about more than how to keep your children and family safe and protected. It might not be best part of parenting but as a parent you have to always consider the ‘what ifs’ and this is where life insurance comes in. ALSO READ: I crochet swim suits and bridal gowns defines life insurance as the contract between an insurance policy holder and an insurer, assurer or an insurance company where the policy holder/the insured pays premiums and the insurance company provides a lump-sum...

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What type of life insurance or cover do I need?

Every month, we put one of your questions to our experts. In this article, Jenny Whitehouse, a financial planner from our Leeds office, and Ruth Slavin, an adviser based in our Manchester office, give their opinions. I’m 38 years old and recently became a mother for the first time. As I’m the main breadwinner in our family, I’m conscious that I don’t have any sort of life cover in place at the moment and this needs to change. I want to make sure that I’ve got the right type of insurance plan for me and my family, as there are a lot of options out there and I don’t want to pick the wrong one. What do I need to be thinking about? Jenny Whitehouse, Financial Planner You’re absolutely right....

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How a misaligned computer print out cost LIC dearly- The New Indian Express

CHENNAI: A misaligned computer print out of a policy document has cost the Life Insurance Corporation (LIC) of India a few lakhs. The curious case disposed by the Madras High Court on Monday revolved around a policy document issued in 2010 by the Royapettah branch of LIC to a Chennai resident P Subramanian. The document mentioned the maturity amount as Rs. 62.50 lakh and believing this to be the case, Subramanian had paid monthly premium of Rs 31,153 for eight long years. Much to his shock, at the fag end of the policy, in July 2018, the LIC informed him that the maturity amount mentioned in the document is a clerical error. He was told that the actual maturity amount is only Rs 14.92 lakh...

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Covid-19 is a great opportunity to redesign processes and costs: Kotak Life Insurance CEO - The Hindu BusinessLine

If industry misses the bus, there will be a price to pay, says Murlidhar Kotak Life Insurance is adapting to the ‘new normal’. Balancing the delicate trade-off emblematic of the strain brought on by Covid-19 is key, according to a senior official, and efforts continue unabated. “We are adapting and evolving our processes to the new normal, and believe we are moving ahead satisfactorily. While the situation has turned out to be tougher than earlier anticipated, we are adapting more easily and rapidly,” G Murlidhar, MD & CEO, Kotak Life Insurance Company, told BusinessLine. Terming the situation a period of great uncertainty, the CEO said the company is dealing with it, “though how long...

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Life Insurance Cronin Insurance Agency

Term Life Insurance is an excellent choice when your need is only temporary. It’s got really low premiums that stay the same for the entire term of the policy – 1, 10, 20 or even 30 years. You can buy a $1,000,000 Term Life insurance policy in Florida for as little as $30 a month. Why should you buy Florida Term Life Insurance? Term life insurance is temporary insurance. It offers the lowest price for a certain amount of time and then it ends. As each term renews, it goes up in price. For example, annual renewable term goes up each year as you get older. 10 year term goes up after 10 years. Term insurance works great for temporary needs. Many people use Term life to cover the...

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How to Talk to a Friend About Life Insurance, Main Street Blog

I work in the life insurance industry and I am passionate about educating others about it. For many, life insurance is not the most appealing thing to talk about—go figure. And it’s never too early to plan ahead. Here’s what I recently wrote to my best friend. I am writing you this because: You are my best friend and, I will never forgive myself if something were to happen to you and I didn’t educate you about the importance of life insurance. My entire family works in this industry and strives to help people see the importance of life insurance. Working in the life insurance industry, every day I talk to people about how important it is to protect the ones we care about....

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What Are Insurance Premiums and How Much Do They Cost? - TheStreet

Insurance premiums are under the spotlight these days, as concerns of high-cost health care are shared by consumers on both sides of the political aisle. How bad is the problem? Take health care insurance. According to the Commonwealth Fund, average premiums from employer-based health insurance plans rose "sharply" in 2017, as the average employee premium contributions totaled 6.9% of U.S. median income in 2017 - that's up from 5.1% in 2008. According to the story, in 11 states, insurance premium contributions comprised 8% of median income or more, with a high of 10.2% in Louisiana Additionally, annual single-person premiums climbed above $7,000 in eight states; family premiums...

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My daughter is going to college. Should I buy her life insurance? - nj.com

Q. My daughter is going off to college and now that she’s (sort of) an adult I’m thinking of getting her life insurance. How can we choose the right policy and what should it cost? A. Congrats to your daughter! Life insurance for children and young adults is often a controversial topic because most people think of life insurance as a way to replace a breadwinner’s income. But there are other reasons someone may want a young person to have a policy. For a young adult, a whole life policy could offer benefits, said Ed Gaelick, a Chartered Life Underwriter and Chartered Financial Consultant with PSI Consultants in Glen Rock. He said he would recommend a pure whole life policy from a mutual...

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What is a Waiver of Premium Rider?

FREQUENTLY ASKED QUESTIONS A waiver of premium rider pays all life insurance premiums due if the insured person becomes disabled. A waiver of premium rider is an optional benefit on many term life insurance policies, and may also be available on permanent forms of insurance coverage. This is one of the most popular life insurance riders. The waiver of premium rider will provide a benefit only if the insured person becomes totally disabled. If a total disability occurs, the remaining premium charges will no longer be required to be paid, but the policy will remain in force for the length of term that the policy was written for. Besides term policies, there may also be waiver of premium...

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The Importance of Life Insurance - Term vs. Whole - Wealthlenial

The Importance of Life Insurance – Term vs. Whole: Is getting life insurance worth it? Well, that all depends. Are you single or married? Do you have dependents? These are all questions that may determine if life insurance would be a logical choice for you. But before we go any further, let’s get some common definitions out of the way: First off – What is life insurance? “Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured. The insurance company promises a death benefit in consideration of the payment of premium by the insured. “...

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