All good things come to an end, or so the old adage saying goes, and if you’re nearing the end of your life insurance term, you may be wondering what to do once that final date has passed. Of course, in one sense, the fact you’ve outlived your life insurance is a good thing. As with most insurance, the hope is that you’ll never actually have to use it. But what happens if you want continued life cover after your policy term’s end date? What are your options? What are the costs? In this article we’ll outline your options. When does the term on my life insurance end? The end date of your life insurance ‘term’ – the length of time your cover...
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20% fewer death claims under life insurance, despite COVID-19 While onboarding a new customer digitally is still simple, settling the claim entirely online may not be feasible. Insurers have done their best The number of death claims in the life insurance segment has dipped up to 20 per cent this year, contrary to what was assumed, thanks to people cooped up at home (resulting into a smaller number of accidental deaths) and low fatality rate of coronavirus pandemic. "Leading insurers have reported a drop of 6 per cent in the number of death claims. One of them recorded a plunge of 20 per cent," says Santosh Agarwal, CBO- Life Insurance, Policybazaar.com. Explaining the reason, Agarwal says...
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A million dollars worth of life insurance may seem extravagant, but many people may need that much coverage to support their family’s needs or their financial goals. Most people in the U.S. who have life insurance are actually underinsured. When you add up all of your current debts, your family’s regular living expenses and future financial obligations such as college tuition, you might just find that you actually need that million dollar policy. A million dollar life insurance policy may not be as expensive as you think. If something should happen to you and your family needs to carry on, would an estimated $30 to $100 monthly premium for a $1 million term policy be worth it to you? To...
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Now in its second year, the MetLife Adviser-Client Relationship Report 2019 is the largest quantitative study of its kind and includes insights from consumers and small to medium enterprises (SMEs) with up to 20 employees who have life insurance purchased through a financial adviser and consumers who are likely to see a financial adviser about life insurance in the next two years. This year’s research revealed that advised Australians are more informed about their insurance than last year, with more respondents able to state their level of cover, premium amount paid, as well as explain the difference between stepped and level premiums. Despite this, confusion around the value of expert...
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I need life insurance guaranteed to last 20 years. If you’re looking for a 20 year guaranteed life policy you’ll want to consider 20 year level term life insurance protection. With guaranteed level term insurance you have the same amount of life insurance each year for a duration of 20 years, and the price you pay (premiums) each year remains level so you can budget for the cost of your life insurance policy and the premiums won’t increase while you are covered. There are also guaranteed issue life insurance plans with no exam and no health questions asked that provides whole life insurance protection for people ages 45 to 85. Learn more about 20 year guaranteed life...
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Protect your family…affordably You want to give your family everything, but on top of other financial obligations, life insurance can seem like just another expense. Term 10 and Term 20 life insurance can help protect your family’s finances at an affordable cost. Better yet, you’ll feel good knowing you’ve provided your family with the financial protection they deserve. Why choose term life insurance? Term life insurance is simple to buy and easy to afford. This makes it the ideal way for young families to get the financial security they need. Our plans provide protection for 10- or 20-year periods. If you die within the covered period, your beneficiaries receive the amount of the...
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References Smart, A., Bolnick, D. A. & Tutton, R. Health and genetic ancestry testing: time to bridge the gap. BMC Med. Genomics 10, 3 (2017). Granados Moreno, P., Ngueng Feze, I. & Joly, Y. Does the end justify the means? A comparative study of the use of DNA testing in the context of family reunification. J. Law Biosci. 4, 250–281 (2017). Arenas, M. et al. Forensic genetics and genomics: Much more than just a human affair. PLoS Genet. 13, e1006960 (2017). Reich, D. Who We Are and How We Got Here: Ancient DNA and the New Science of the Human Past (Oxford University Press, 2018). Sabour, L., Sabour, M. & Ghorbian, S. Clinical applications of next-generation sequencing in cancer...
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South African home-owners need to be more aware of the benefits of saving by paying an additional amount off their bond every month, says Rudi Botha, CEO of bond originator BetterBond. “The latest Old Mutual savings and investment monitor shows that only a quarter of home-owners are currently paying more than the minimum bond instalment every month, while 5% occasionally add a lump sum such as a tax refund or a bonus to their minimum monthly repayment. “And yet one of the best investments homeowners can make is to use any additional money they have available to shorten the repayment period of existing debts, and especially their home loans,” Botha said. He said that the...
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Key of Features LIC New Jeevan Anand Whole life insurance plan continues to provide coverage until the death of the insured even after the maturity of the plan. Regular premium payment option is provided to the policyholder. Offers Simple Reversionary bonuses to enhance the payable benefits on maturity or earlier death. Maturity Benefit is Sum Assured+Resultant Bonus and the Life Cover continues till death. Death Benefit after Policy Maturity is only Sum Assured. Death Benefit before Policy Maturity is Sum Assured+Resultant Bonus. Additional Accidental Death and Disability Benefit Rider that offers additional benefit in case of accidental death or disability until the 70th birthday of the...
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Key vote offers boost to Equitable victims: End in sight after investors' 20-year battle with stricken pension giant Under a new scheme, the Equitable Life name will disappear All business will be transferred to a new owner, Utmost Life & Pensions Equitable is writing to 164,000 policyholders asking them to approve the plan If passed, savers who have ‘with-profits’ plans will be given a large uplift to the value of their pensions The Equitable Life disaster is approaching a resolution after two decades that will offer long-suffering pension savers a one-off boost to their policies. The near collapse of Equitable Life in 2000 is one of Britain’s biggest financial scandals. Since then...
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