Worthright makes your old insurance work for your new life "> a company helping families use existing life insurance to fund retirement or care needs. Founded in 2019, the Boston-based company is led by Aaron O’Hearn and Bryan Maleszyk, and it operates at the intersection of insurance, financial services and retirement. The company focuses on using existing life insurance to fund retirement costs and care needs by enabling policyholders to sell their life insurance. They do that by delivering “intelligent technology” that makes evaluating, servicing and selling a policy seamless. Worthright was conceived after O’Hearn figured out that selling a life insurance...
Continue reading...
When you should review your life insurance coverage. Life insurance protects your family when you are no longer around to help them. However, it can only do this if it’s up to date and in line with your needs. While life may be busy and always hectic, there are key moments in life that call for a life insurance policy review. Here are just a few. When your family status changes – Whether you’re getting married or having a baby, you’ll want to protect your growing family with more life insurance coverage. Losing a family member through death or divorce should also prompt a policy review. Remember to review and change the beneficiary designations on your existing policies, as needed. When...
Continue reading...
What types of life insurance coverage does Voya Financial offer? Voya guards you and your loved ones’ lives with several options available through employer benefits. Term life. A policy that protects you during a set time period that generally lasts from 10 to 30 years. It pays a fixed amount if you die during the term. Coverage amounts vary based on your employer’s plan, but can range from enough to cover funeral expenses to ensuring your mortgage is paid. Whole life. A policy meant to protect you through your lifetime while growing tax-deferred interest on its cash value. After contributing a set amount, you can borrow against the cash value to meet unexpected expenses. What...
Continue reading...
7/08/2014 Types of Life Insurance Policies Life Insurance Definition Meaning Meaning of Life Insurance Image credits © Manoj Patil. In Life Insurance contact, the human life is insured against old age illness, accident, death, etc. Life insurance contract is not a contract indemnity. Hence the insurer has to reimburse a definite sum on the maturity or completion of policy. Life Insurance is only for those who survive, and not for the person who passes away. It is moral responsibility of every person to protect his family member from uncertain circumstances or death. Hence Life insurance plays a vital role in the world. Definition of Life Insurance Image credits © Manoj...
Continue reading...
When you purchase a life insurance policy, you’re agreeing to pay premiums to maintain your coverage. The amount you pay comes down to a range of factors, including your health, lifestyle and whether you add riders to your policy. What is a life insurance premium? A premium is the money you pay for your life insurance coverage, and payments are typically due monthly, quarterly or annually. Your policy stays in effect as long as you pay your premiums, so it’s important to apply for a policy you can afford. If you stop paying your premiums, your policy will lapse — ending your coverage. What’s the difference between a premium and a quote? A life insurance quote is an...
Continue reading...
You need to enable JavaScript to run this app. We all want to achieve ‘financial security’ in life. Different people have different interpretations regarding this but overall we all understand the basics of this motto in life. This is your first step on the long journey called ‘financial well-being’. Why Are Some People Reluctant to Take Life Insurance? Sometimes we remain naive and do not want to understand the factors that can result in bringing our family closer to financial distress. This is unpredictable and can happen to anyone. Yet we think that chances of something happening like this to us are quite low. The unexpected death of the breadwinner of the family can be a turning point...
Continue reading...
Almost all insurers offer life insurance policies. And although each company has particular benefits and requirements, there are certain conditions that are met – by law and by the nature of the insurance – in a global way. Know the specifications of life insurance, when they are paid to the beneficiary and in which cases the insurer could be exempted from payment, even if the accident occurs. Usefulness and benefits of life insurance The life insurance – like any other insurance policy is nothing more than a contract whereby the insurer agrees to pay one or more beneficiaries an amount of money if the holder dies, and he undertakes to pay an annual premium to the...
Continue reading...
Term life is a temporary insurance…that’s it. The definition of the word “term” means “a time or period which something lasts; an appointment or set time or date, as for payment of rent, interest, etc.” In life insurance, the word “term” is attached to a period of 10, 15, 20 or 30 years. Once your period “term” expires, your insurance coverage goes away. This is also known as RENTAL LIFE INSURANCE. Why Term, and WHY NOT? No one can argue that Life insurance is a good idea in most cases. However, which type of life insurance is the ongoing premise for disagreements among consumers and those agents or advisors who are not REALLY educated on life insurance. Although term life...
Continue reading...
Life insurance, like any other type of insurance policy, is a contract between you and the insurance company where they will pay the chosen beneficiary a pre-decided amount upon your death. This is important if you have a family to look after, as a life insurance policy will ensure they have the necessary finances to go on with their lives when you are not there to provide for them anymore. There are several different types of life insurance policies to choose from. They vary in costs and the period in which you are covered. Permanent life insurance: This policy will cover you for the rest of your life. The advantage of this policy is that it accumulates cash value over time, from which can...
Continue reading...
Life insurance Life insurance terminology Beneficiary: The person or organization designated by a policy holder to receive the proceeds from an insurance policy. Policy proceeds: The money that is paid to a beneficiary as a result of an insurance policy. Term: The period of time for which insurance coverage is provided under a policy, usually 5 to 30 years. Life Insurance: Peace of Mind is Priceless There is nothing more reassuring than knowing your loved ones will be taken care of after you are gone. Often people are uncomfortable acknowledging that they need life insurance simply because they are uneasy thinking about the concept of death — especially in relation to their own. But while...
Continue reading...
