What’s the main reason why you should purchase life insurance? Because life insurance provides your family financial confidence and stability in the event of your death. If you have more life insurance, the more your family will be able to benefit from it. As an example, if your work offers $20,000 in life insurance, that certainly isn’t much. After all, the average cost of a funeral is between $7,000 and $12,000. So, that might cover funeral expenses and maybe a couple of mortgage payments. However, if with a larger coverage amount, you and your loved ones can experience the following advantages; Replacement of lost income if you lose your job or salary Repaying other debts, such as credit...
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After reviewing several options, Noel's City Council approved a life insurance and accidental death and dismemberment plan for eight employees during its meeting on Tuesday. The council heard from a representative of the HIC Agency Inc. who presented a plan from The Hartford that would give the city a much higher benefit without compromising its budget. The approved plan will cost $122.40 monthly with a $40,000 death benefit, which comes in at half the price Sun Life was offering with a lower benefit. "With a better benefit, you're likely to keep good people around," South Ward Alderman Terry Lance said. Next, street superintendent Christopher Craig pressed the council for a raise for one...
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With an estimated 70% of independent financial advisers operating without a formal succession plan in place, you have to give LPL Financial credit for its new Assurance Plan, which essentially checks the box for those advisers who can’t seem to move succession planning off the back burner. The Assurance Plan is simple and straight forward enough to get the attention of any LPL adviser currently working without a safety net, and LPL estimates that about 60% of its 16,700 advisers do not have a succession plan. For LPL, this is a no-lose situation. The company isn’t making public the cost of the plan beyond describing it as a “nominal monthly fee,” which one should assume they researched...
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Bharti Airtel is offering life insurance on its Rs 179 and Rs 279 prepaid recharge plans. (Image: Bloomberg) Bharti Airtel currently has two recharge plans for its prepaid customers that come with Life insurance benefits. The telecom operator first launched a Rs 279 pack with Rs 4 lakh term life insurance from HDFC Life and recently it unveiled the Rs 179 pack that offers Rs 2 lakh term life insurance from Bharti AXA Life. We are listing down the plan benefits as well as how the life insurance will work for the subscribers. Airtel’s Rs 179 prepaid pack benefits Apart from Rs 2 Lakh worth of Bharti AXA life insurance, Airtel’s Rs 179 prepaid recharge plan offers 2GB data as well...
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Life insurance is one of the foundation of a strong financial plan, whether the insurance is used for a family plan, individual or a business arrangement, there are many life insurance option to consider today to protect the value of those needs. Life insurance can assist in stopping the domino effect of the loss of a family way of life, or a business arrangement, and because of the large selection of life insurance programs available in the insurance marketplace, this is where an Insurance Corner consultant can assist you with the selection process. Whole Life, Term Life, Universal Life, or Final Expense, we are here to simplify the process. Leave them more than just memory. Term insurance...
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Support Staff Policies & Procedures Support Staff Policy & Procedure for Optional Employee-Paid Life Insurance Plan Policy Applies to: Regular 50% time or more faculty and academic staff, University support staff, flexible appointees, and official MSU retirees The University offers an Optional Employee-Paid Life Insurance Plan to eligible employees. The benefit is payable in the event of death. Eight levels of life insurance are available. Dependent options are available also. See charts below for life insurance coverage levels and monthly rates: Optional Employee-Paid Life Insurance Coverage Levels Optional Employee-Paid Life Insurance Monthly Rates (eff. 1/1/2019) The benefit...
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Joins Hands With Max Life to Launch Group Term Insurance Plan The plan comes with a myriad of benefits, including paperless transactions, one-time premium, requiring no medical test for prospects with an income of less than Rs 3 lakh. IndianMoney.com, India’s largest free financial education company, has announced its group term insurance plan — Max Life Group Term Life Platinum Assurance. The plan comes with a myriad of benefits, including paperless transactions, one-time premium, requiring no medical test for prospects with an income of less than Rs 3 lakh. Speaking about the plan, CS Sudheer, founder of IndianMoney Group, said: “The reach of insurance in India is low owing to the dearth...
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Have you ever tried to put your finger on a ball of liquid mercury? Good luck! It will elude you every time. Life insurance can feel very similar. The more information you gather, the more confusing it can become. I hope this short article will help you understand the simplicity of life insurance as a concept. By understanding the concept you’ll be in a much stronger position to make a wise product choice. People (especially life insurance professionals) find many different ways to describe life insurance. If you have spent any time looking into the subject, you’ve likely discovered that life insurance comes in many forms. This article is not about that. Whew!! Life insurance is simple....
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Using a Life Insurance Plan to fund for Gift Tax Using a life assurance savings plan to fund for Gift Tax Planning for your financial future will give you peace of mind today. This week, our Expert Qualified Financial Adviser, Philip Sicat, Premier Financial Services, discusses how you can fund for gift tax through a savings Policy. Relief is given in Section 73 of Capital Acquisitions Tax (CAT) Consolidation Act 2003 to allow people to plan for the payment of gift tax (Section 73) in a tax efficient way. If a life assurance savings plan is put in place to provide for the ‘relevant’ tax, Revenue will not charge Capital Acquisitions Tax on the plan proceeds if the money is actually used to...
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The lump sum ‘Death Benefit' is payable immediately on the death of the life insured and is defined as the higher of: 10 times the Annualised Premium*, 105% of all premiums paid as on the date of death of life insured Guaranteed Sum Assured at Maturity Any absolute amount assured to be paid on death Absolute amount assured to be paid on death is equal to zero under this product. The policy gets terminated after payment of Death Benefit. Please look at some examples below. Below listed scenarios are assumed for a healthy male (without loading and all applicable taxes, cesses and levies as imposed by the Government). This is assuming that the premium has been paid for the entire Premium...
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