Why life insurance

Why Life Insurance is Important for Single People - Shannon Insurance Agency, Inc.

While it is true that life insurance is very beneficial for married couples and those with kids, that does not mean life insurance can’t be for singles too. Regardless of the fact that nobody is dependent on a single person’s income, there are still instances when life insurance is necessary for singles. Take a look at our top reasons that you may not have thought about at first. It Will Help Cover Your Debts Take a moment to consider all of your expenses. Are you paying off any loans or debts from college or a mortgage? Despite what some may think, if anything were to happen to you, that debt doesn’t disappear if you have a cosigner. Instead, the debt will go to them, whether it be your...

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Why are life insurance policies abandoned midway?

Why are life insurance policies abandoned midway? 8 min read . Updated: 11 May 2015, 09:10 PM IST Deepti Bhaskaran Private life insurers have been able to retain less than a third of the policies sold 5 years back What would you call a product that is sold for 15 years but discontinued after just five? What would you call an industry that is unable to keep customers holding on to a product that was sold for the long term but is stopped midway? In India, we’d call this the life insurance industry, which is displaying signs of huge churn—losing customers on one hand, and trapping new ones on the other. A look at a single metric, which the insurance regulator releases, clearly points to...

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Three Reasons Why Life Insurance is More Than Just a Death Benefit, davidhodges

Three Reasons Why Life Insurance is More Than Just a Death Benefit by David Hodges on Aug 29, 2017 Life insurance is universally recognized as an essential pillar of a financial plan for providing much needed capital in the event of a breadwinner. It is also fundamental to other planning needs, such as estate planning to pay for settlement costs and taxes, and business planning for business continuation or key person protection. However, considering the remarkable tax properties of permanent life insurance, it should also be considered as foundational planning tool for an entire financial plan. Here are three reasons why: Increased After-Tax Income in Retirement While IRAs and 401(k)...

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Let’s talk about why we don’t talk about life insurance - Canada Protection Plan

It forces us to face our mortality. Nobody wants to think about their demise. But mortality is a fact, and when it actually happens it’s pretty much beyond our control. Look at it this way: the best way to deal with uncertainty is to be prepared for it. And one of the ways to get our affairs in order is to put life insurance in place. That way, should the unexpected happen, you’ll have everything in line to financially protect your loved ones. We don’t benefit directly from having life insurance. With health, car or home insurance, you are the one who directly benefits from having it in place. Yet in the case of life insurance, your survivors would benefit from you having it – not you. When...

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Life Insurance Insights from Actuaries, SOA

How Actuarial Practice is Evolving with Life Insurance Connected technologies and advanced modeling are giving life insurance much more data to mine. Actuaries work seamlessly with automation technology to unleash insights from big data, adding the human touch and business acumen to machine learning. As data sharing becomes more frequent, actuaries can craft more personalized policies that can better incentivize healthy behavior, leading to long-term outcomes for customers and more savings for employers. It’s an exciting time for actuaries using predictive analytics in life insurance. Learn more about the unique journeys of actuaries working in the industry. As a leader within...

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Why Life Insurance is Still Important for the 50+ - Moser Group Insurance

Why Life Insurance is Still Important for the 50+ Find out why life insurance is still an asset for those over 50. If you are over 50 and our children are out of the house and you no longer have any long standing financial obligations, then you might think that life insurance is no longer worth it for you. However, before you cancel your policy, consider these reasons why life insurance is still important for you. While you might not have any dependents or remaining financial obligations, there’s a chance that your circumstances might change. For instance, you could become legal guardian to your grandchildren. If this happened, you would need life insurance to provide for them in case...

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6 Reasons Why You Should Have a Life Insurance Policy

No one plans to die unexpectedly which is precisely why everyone should have a life insurance policy. Unlike auto insurance, life insurance isn’t mandatory. The right policy, however, can significantly take the strain off your sudden death. The financial contributions that you once made to support your family are replaced by the money set aside by the life insurance that you chose to buy. Reasons to Purchase a Life Insurance Policy Here are six reasons why you should have a life insurance policy: To cover funeral and burial or cremation costs. Final expenses are costly. Rather than leave a family member stuck footing the bill, your life insurance policy pays the debt. It can help with...

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Tracking Down and Collecting Unclaimed Life Insurance - The New York Times

Angelo Karamitos, a general manager for a vending company in Racine, Wis., said that when his mother died, he found a safe-deposit box and a life insurance policy he did not know existed. Credit Darren Hauck for The New York Times THE most basic purpose of having a life insurance policy is to provide some assistance for loved ones when you die. Wealthier people sometimes use life insurance for estate planning, while most people expect the policies on which they have paid premiums for decades to help their heirs get by — or at the least cover funeral expenses. Yet hundreds of millions of dollars in life insurance goes unclaimed each year for one simple reason: the beneficiaries do not know...

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Q A: Why life insurance and lawsuits might be the next big things for PE, Eaton Partners Fund Placement Advisory

Peter Martenson is partner and head of global distribution at Eaton Partners, one of the oldest placement agents in the market. Eaton Partners, a Stifel Company, advises on fundraises across several asset classes, including private equity, credit, real assets and hedge funds, among others.. We spoke to Peter about two relatively new asset classes that are gaining traction in today’s PE market: life settlements and litigation finance. Life settlement investments involve buying life insurance policies from their owners in exchange for lump-sum payments; litigation finance allows third-party investors to financially support lawsuit plaintiffs in exchange for a portion of any monetary...

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Why the future of life insurance may depend on your online presence - The Verge

“Don’t post photos of yourself smoking on social-media sites. Do post photos of yourself running.” These two suggestions appear in a recent Wall Street Journal article about New York state’s new rules for how life insurance companies can use public data to help set premiums. Such tips — under the heading “what you pay for life insurance could depend on your next Instagram post” — seem ominous, portending a surveilled future where tweeting about rock climbing could hurt your wallet and services exist to curate photos that appeal to insurance companies. In reality, it has long been the case that what you pay for life insurance could at least be affected by your next Instagram post. It is...

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