When buying life insurance, most good advisors recommend that you go in for a pure term plan. A pure term plan is an insurance policy that offers life cover (with no investment component, bells or whistles – we’ll tell you why you don’t need those in a later article) for a specific ‘term’ or period of your life. So, one of the key questions that insurers ask you when choosing a term plan is the length of coverage you seek. Would you like the plan to cover your life until you turn 60, 70 or 80? How about getting covered until the age of 99? The latter are called whole life plans. Most folks, when offered the choice of stretching the term of their life insurance policy are quite tempted to...
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latest Content Whole of life or term insurance? Term insurance is often the default cover for clients but when would whole of life cover be better? The UK’s shifting demographics, market competition, lower premiums, product innovation and optional add-ons are making for an interesting debate, writes Stephanie Spicer A term plan has often been touted as a best first buy or an ‘if you buy nothing else buy this’ product because it is cheap compared to other protection policies and relatively simple. There is a lot to be said for some protection being better than nothing, but when the same reasoning is used for selecting term over whole of life (WOL) there is a risk that best advice could be...
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Purchasing a term life insurance plan is the best way to ensure high cover for your family at a low cost. A term insurance policy gives the buyer an option to modify or customize policy features and benefits to suit personal requirements. You have a number of options to choose from. It’s best to avail term life insurance at young age. Once you have a good job and stable income, you can avail a term insurance policy as it provides your family with security and financial stability in your absence. If you have dependents, don’t forget term life insurance. Want to know more on Term Life Insurance? will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our...
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HHS says in the blueprint that it wants to… By now, you probably know that clients who no longer want or need their life insurance policy have the opportunity to sell their policy for a lump-sum in cash through a life insurance settlement. But, what if getting a lump sum of cash is not in the best interest of the client? How can life insurance settlements be creative in these cases? Allow me to demonstrate with a look at one couple’s situation: The husband is in his late 50s. He has a $500,000 term policy. He was diagnosed with brain cancer almost 10 years ago and went into remission. The cancer recently came back very aggressively. His doctor had written a letter stating that he had six...
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Term life insurance websites tend to throw the words ‘term life insurance quote’ around pretty loosely. Yes – including us. Even we sometimes fall into the trap of assuming everyone knows what a quote is. We should all remember what our mother taught us about assuming. But isn’t a quote a relatively simple thing to understand? After all, it’s just an estimated price for something. How confusing can that be? Well, actually, it can be quite confusing when it’s a quote for term life insurance. There are a whole bunch of factors that come into play. Let’s take a look at them. Demographic Information Your quote starts with some basic information. Gender – Female rates are lower than...
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Term insurance is a type of life insurance policy ; availed to secure the financial future of loved ones. You do not want your family to suffer or face any financial difficulty on an untimely demise. So, to offer your family the best financial support and protection, it is very important to avail a term life insurance plan. Term insurance is a back-up plan which offers financial protection to your family in case of any eventuality. This article aims to identify the right term life plan; by identifying the most important aspects of term insurance. Want to know more on Term Insurance? We at will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free...
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Millennials are in no rush to get married. In fact, according to a study from the Federal Reserve Bank of St. Louis, fewer than 40 percent of millennials were married in 2016, versus nearly 60 percent of young adults who came of age in the 1980s. That means more people are single when they start preparing for major financial milestones. After all, being single doesn’t mean you have to put off big goals like buying a home, planning for retirement or even having kids. You just have to plan a little more strategically for them. “Having less income can be a challenge,” says Matt Shapiro, CFP®, a member of the Advice Practice team with Northwestern Mutual. “But being single also introduces more...
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Experience improved navigation and ease of buying insurance on our new health insurance section. Bajaj Allianz Health Insurance Plans A good health insurance policy should do three things: Ensure that you and your family get the best medical care possible when you need it. Cover you financially against the costs of treatment and hospitalization. Give you complete peace of mind. Bajaj Allianz's medical insurance plans have everything mentioned above. Our health insurance policies ensure that you and your loved ones get access to immediate care at the best hospitals without wiping out your hard-earned savings on these medical expenses. Bajaj Allianz offers a wide range of affordable policies...
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Life, health, and disability insurance protect you, your body, your wellness, and your livelihood. This range of coverage includes some of the most essential protections. Too often, people ask the wrong questions. This leads them to draw the wrong conclusions about life, health, and disability insurance. As a result, many remain drastically underinsured or forgo the protection altogether. Without maximum life, health, and disability insurance, you leave the things that matter most, exposed to the highest risk. Asking how to save money on your life, health, and disability insurance is the wrong place to start. First, you want to best protect what’s most important to you. You get the...
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A well-chosen insurance policy is indispensable for financial health as well as mental peace. A good policy serves three different purposes. It protects the policy holders and their families from the effects of unforeseen circumstances. It serves as a medium for long-term investment. It also serves as an instrument for saving income tax. What is Term Insurance? In recent years, term insurance plans have become increasingly popular among investors. To put forward in simple English, a term insurance is a type of insurance policy that stays in place for a mutually agreed fixed period called term, usually expressed as a number of years. During the term of insurance, the policy holder pays a...
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