Common mistakes to avoid while choosing a term insurance policy This piece looks at some common mistakes one should avoid while choosing a term insurance plan. The objective behind buying a term insurance policy is that if the insured passes away, his/her family can continue to live well without worrying about finances. What if the insurance proceeds may not last long after the insured person’s demise? This situation can happen if the sum assured is not carefully appraised based on the family’s future needs. Naval Goel, founder and CEO, said, “The prevalent mistake that the majority of people tend to make is to take a vague term insurance cover that fails to meet their future financial...
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We may receive payment from affiliate links included within this content. Our affiliate partners do not influence our editorial opinions or analysis. To learn more, see our Advertiser Disclosure. Term life is often a good choice for people who want an affordable life insurance option to cover specific financial obligations. For example, you might want term life insurance to cover the years left on a mortgage or the years until your children have graduated from college. But prices are only one component of a good term life policy. You’ll want to consider the benefits within the policy that could become important many years after you purchase the coverage. We used data provided by Life...
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ATLANTA, Aug. 17, 2020 /PRNewswire/ -- As COVID-19 takes its toll, people are thinking about life insurance in a new light. Only about half of U.S. adults have this coverage, which provides cash payments to survivors. About a third of those have life insurance through their employers, another concern as companies downsize or close their doors. Most Americans have never purchased life insurance on their own and may not know how underwriting typically works, says Michael Baratta, CLU ChFC CAP, president of Fortress Brokerage Solutions in Atlanta. "Traditionally an application can be 25 pages long," he says. "You meet with an agent who submits it to an insurance carrier. Next comes in-person...
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CMFG Life Insurance Company, through CUNA Mutual Group, uses its TruStage brand to sell life insurance to the public and credit union members. I’m often asked, ‘What does CMFG life insurance stand for?’ Well, the acronym CMFG does not stand for anything. CMFG Life Insurance Company issues the life insurance policies sold through TruStage Life Insurance Agency. CMFG Life Insurance Company has been around for over 80 years and maintains an “A” (Excellent) from the financial rating review done by A.M. Best Agency. The “A” rating is the third-highest rating of 16 categories of ratings A.M. Best issues and means that you can trust that CMFG is...
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HDFC Life Insurance is opening its branches with skeleton staff, despite the rise in covid-19 cases, as a confidence-building measure for its customers. The company is also working on getting customers to use its digital platform. (Photo: Pradeep Gaur/Mint) HDFC Life pins hopes on Wise to thrive in a post-covid world 3 min read . Updated: 27 May 2020, 01:38 AM IST Disha Sanghvi As the government eased restrictions, the insurer is gradually opening its branches, though its headquarters in a Mumbai red zone remains shut As the government eased restrictions, the insurer is gradually opening its branches, though its headquarters in a Mumbai red zone remains shut. As of now, 236 out of the...
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LOS ANGELES, Calif., May 15, 2020 /PRNewswire-PRWeb/ -- One of the most important and expensive parts of owning a car is car insurance. Finding a good insurance plan that covers all the needs, and at an affordable price, can be quite challenging for most drivers. Drivers who are not content to pay for expensive premiums should follow the next tips to get more affordable insurance plans: Shop the market for better policies. Shopping around has several advantages. First, drivers can check the prices of policies sold in their areas and they can compare different plans from different insurers to get a sense of insurance costs. Secondly, drivers can discover local, small insurers that offer the...
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The insurance company launched media campaign ‘Rakshakaran Heroes’ promoting both greenery and life insurance Tata AIA Life Insurance has rolled out a new television commercial to promote its Rakshakaran Hero campaign that addresses the growing concern of green cover depletion along with lack of Life Insurance penetration in the country. The campaign TVC urges consumers to protect the future of their families as well as that of the planet. The campaign aims to highlight the pledge that the company has made towards planting a tree for every Tata AIA term policy bought. In extension of the brand promise of Tata AIA, Rakshakaran Ki Reet, the TVC highlights the larger purpose that buying a term...
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I put off getting life insurance until I got pregnant, but for $35 a month, it's the best gift I can give my daughter Three evenly spaced dots forming an ellipsis: "...". Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Buying life insurance was always on my life to-do list, but I didn't get around to it until I got pregnant. My husband and I looked at options from a few different insurance companies and were surprised to find that our regular insurance provider wasn't the company we ultimately chose. Yet, I always managed to put it off — until I found out I was pregnant. Suddenly, getting life insurance felt...
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SBLI of Massachusetts launches online life insurance app SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has introduced an online application that enables shoppers to apply for term life insurance twenty-four hours a day without having to speak with an SBLI sales agent. Embedded in SBLI.com, the online application ( apply.sbli.com ) extends the company’s 112-year history of providing straightforward, low-cost family protection, this time to consumers who prefer to engage with SBLI online. With the launch of the online application, consumers now have more choice in how they purchase SBLI life insurance — through its many partners, on the phone with an SBLI life...
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Insurance is here in order to make sure an accident doesn’t destroy you. The insurance will sometimes charge a little deductible based on the kind of accident that has occurred, but the price is minimal in comparison to what it would cost to resolve a vehicle all on your own. So you need renters insurance to shield your possessions and liability inside your house. In every situation, renters insurance creates a lot of sense for a way to safeguard your assets for the price of only two small pizzas a month. Some people believe that having insurance is an extra expense for the business. Encourage Savings Insurance is a good investment channel also. Type of Why Insurance Is Important In...
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