What is Insurance Planning? Insurance planning is a type of risk management that aims to protect against potential loss. Adequate insurance from a trusted insurance company guards against risk and guarantees you financial protection in the case of unexpected loss or losses. The Two Types of Insurance: Gen eral: This type comprises any insurance that is non-life and is thus often referred to as non-life insurance. General insurance guarantees economic protection in specific areas that include (but are not limited to) home car, and travel. Li fe: This is a form of economic protection in the case of loss of life- or in some cases- terminal or critical illness. The listed beneficiary or...
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You can submit an application by clicking on ‘ Buy Now ’ or for manual application, please follow these steps: Complete the Proposal Form and Direct Purchase Insurance Factsheet and Print. Visit our Customer Service counters at Great Eastern Center (address below) and bring along both documents. Alternatively, to download more information, click on any of the links below: Terminal illness refers to a conclusive diagnosis of an illness that is expected to result in the death of the life assured within 12 months of the diagnosis. The Terminal Illness must be diagnosed by a registered medical practitioner and must be supported by evidence acceptable to the Company. Terminal illness in the...
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Forever Legacy Whole Life Plan Product Type: Life Insurance Insurer: BOC Group Life Assurance Company Limited BOC Group Life Assurance Company Limited (“BOC Life”) offers the “Forever Legacy Whole Life Plan” (“the Plan”), which is a visionary life insurance plan that allows you to enjoy life protection coverage until the Insured the age of 100, manage your future with ease. Note: Please refer to the product leaflet for the details of the Plan (including the coverage, key risks, major exclusions, etc.). The Plan is underwritten by BOC Life. Bank of China (Hong Kong) Limited ("BOCHK") is the major insurance agent bank appointed by BOC Life. BOC Life is authorised and regulated by the...
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Life Insurance Plans The Croatian Fraternal Union of America (CFU) – the “Society that Cares” – offers members and prospective members life insurance products from a modern and competitive insurance portfolio, complete with an impressive listing of benefits. What is life insurance, and why is it so important? At its essence, life insurance provides real peace of mind knowing that your loved ones will be cared for after you are gone. Here is some commonly used insurance terminology below: Permanent life insurance: Any form of life insurance except term; generally insurance that accrues cash value. Term life insurance: As its name denotes, term life insurance remains in effect for...
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LifePlans has been driving innovation in the Long-Term Care Insurance (LTCI) market since the development and introduction of the industry?s first long-term care guide in 1989. And that was just the beginning. We introduced the industry to the importance of including measures of Activities of Daily Living as a LTCI benefit eligibility trigger and in 1990, we introduced cognitive screening as a standard part of the underwriting process. In early 2005 we introduced a third generation cognitive screen? The Enhanced Mental Skills Test? which is the most sophisticated and scientifically validated screen available for identifying individuals at the earliest stages of cognitive decline. LifePlans...
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Setting Up Life Insurance and Accidental Death Plans To set up life and accidental death plans, use the Coverage Formula Table (BN_FORMULA) and Life and AD/D Plan Table (LIFE_ADD_TABLE) components. This section provides an overview of coverage calculation formulas and discusses how to: Create coverage calculation formulas. Enter life insurance and AD/D plan details. (USF) Understand Option A - standard FEGLI plan calculations. Understanding Coverage Calculation Formulas You can create simple formulas to define how coverage should be calculated. These formulas are used by both life and disability insurance plans. You can specify how the benefits compensation base is determined, a...
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You've probably seen at least one commercial for child life insurance, even if you didn't know that's what it was advertising. One commercial for Gerber Life, the life insurance company owned by the baby food company, has parents sitting around a coffee table and talking about their college savings efforts. The Gerber Life College Plan is presented as an easy way for parents to set aside money for their child's college education by purchasing life insurance for the child. But here's what they don't tell you: life insurance is a bad way to invest, and your child doesn't need life insurance. Child life insurance = whole life insurance = bad investment Child life insurance products are a type...
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Plans of Insurance Government Life Insurance is issued in a variety of insurance plans. Select a plan below to view a brief description of that plan. This information is for policy numbers beginning with K, V, RS, W, J. JR. JS and RH. Information for: Servicemembers' Group Life Insurance policies (SGLI) and Veterans' Group Life Insurance policies (VGLI). Five Year Level Premium Term Available on all programs except "J," "JR," "JS" Renewable every five years May be converted to a permanent plan Provides low cost protection at younger ages but premiums increase substantially at older ages Provides protection only and has no cash or loan values * When premiums are not paid, the protection...
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This is an insurance policy that enables you to build a fund over a period of time so as to enable you pay for your child’s school fees requirements as and when they fall due. It also ensures that your child’s fee required is available even in the unfortunate event that you die. This plan allows for a disciplined, systematic and easy way to save for your child’s financial education needs. The sum assured and premiums are determined at onset and they remain fixed throughout the term of the policy. Flexible term: The plan also has a (saving period) which ranges from 5 to 20 years, which will be chosen by you, and this will depend on when you require the funds. Riders are benefits that come as...
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The Only College Plan That's Also Life Insurance Is A Bad Investment A while back, I saw a TV commercial for what appeared to be life insurance from a baby-food company: Gerber. After a little Googling, I realized that the ad was for the Gerber Grow-Up Plan, a whole life insurance policy for children offered by Gerber Life. In the course of looking into it, I stumbled across the Gerber College Savings Plan, another life insurance policy meant to store money for a child's education. I had already found that that life insurance isn't needed by most healthy children, but what about to save for college? Is life insurance really the best way to do that? Simply put: no. Before detailing why...
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