What is a Term Insurance Plan? Why is Term Plan Important? What is a Term Insurance Plan? An Overview In this era of investment, we look for opportunities to accumulate wealth as well as earn the maximum potential returns by parking our money. We are often advised to start investing from an early age to have a sustainable income by the time we retire. While taking risks and investing in the stock market or mutual funds is the common advice that we usually receive at that age. This blog, however, explores one of the most underrated pieces of advice for people in their 20’s i.e. starting on with an insurance premium. Buying insurance for your health or life per se ensures to relieve you from...
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Taking out an insurance policy Employers must take out workers’ compensation insurance for employees. The contents of the insurance and to whom it applies are specified in the Workers’ Compensation Act. Companies, private traders and private individuals that employ employees whose combined wages or salaries in a calendar year exceed 1,300 euros are considered employers. Households that employ employees are also deemed to be employers with a duty to take out insurance. The insurance covers employees working for the employer in an employment or public-service employment relationship and is valid without separate notice. Unlike with pension insurance, individual employment...
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What is Term Insurance Plan and How Does It Work? As finances play a crucial role in all of our lives, making adequate arrangement to at least secure the financial future of your family is one of your biggest responsibilities. An affordable and highly effective way to provide this financial security to your family in case of your death is through a term insurance plan. But what is term insurance plan and how does it work? If this is the first time that you are searching for term insurance, here are a few essential things that you should know about them: What is Term Insurance? Term insurance is a type of life insurance which offers life coverage for a fixed duration or ‘term...
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While Corona Kavach has a cap of ₹ 5 lakh on the sum insured, Corona Rakshak has a cap of ₹ 2.5 lakh. Photo: iStockphoto 60 lakh lives covered under covid-19 health policies, says Irdai chairman 2 min read . Updated: 18 Sep 2020, 07:20 AM IST Disha Sanghvi Insurers have sold around 28 lakh Corona Kavach policies with a total sum insured of ₹ 1.02 lakh crore and 32 lakh Rakshak policies with a total sum assured of ₹ 1.1 lakh crore since July. He was addressing the 22nd Insurance and Pensions Summit organized by the Confederation of Indian Industry (CII). Corona Kavach is a standard indemnity policy offered by all general and health insurance companies, while Corona Rakshak is a fixed-...
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How to choose the right family life insurance Updated 03 September 2020 ‘Family life insurance’ is really just another name for life insurance. It’s not a special type of insurance, but is a very good description of the main benefit of life insurance: protecting your family. That’s why people often talk about ‘family life insurance’ when referring to life cover taken out by people with children. Here we explain why this may require a bit more thought and professional advice than taking out a basic life insurance policy. What is family life insurance? When people take out family life insurance, they are trying to ensure that their children and/or partner...
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The Dos and Don’ts of Life Insurance in the UAE As a UK expat, it is likely you have spotted the excitement in the UAE life insurance sector. We at Holborn Assets report that “the Dubai life insurance sector is lifting off at a growth rate of 10% a year and is crammed with over 60 competing insurers, offering great deals.” So we’ve taken in the bigger picture, and it is looking good. But what about the details? How can you, as a UK expat, ensure you get the right life insurance deal? Here we present 5 DOs and 5 DON’Ts in the UAE life insurance sector: DO #1 – Check Out your Three Basic Options There are three main types of life insurance: Level Term – which pays out a lump sum...
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Term Life Insurance Definition The basis for term life premiums is on a person’s age, health, and life expectancy, which is set by the insurer. If the person should die within the specified policy term, the insurer will pay the face value of the policy. Should the policy expire before the policyholder’s death, there is no payout. Policyholders may be able to renew a term policy at its expiration, but their premiums will be recalculated for their age at the time of renewal. Because it offers a benefit for a restricted time and provides only a death benefit, term life is usually the least costly life insurance available. A healthy 35-year-old non-smoker can typically obtain a 20-year...
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Highlighting Sustainable Development Goal #3—Good Health and Well-Being The Inter-American Development Bank (“IDB” or “IADB”), rated Aaa/AAA (Moody’s/S&P), priced a new 10-year fixed rate Sustainable Development Bond (“SDB”) focused on SDG#3 (Good Health and Well Being) in Australian Dollar (AUD) valued in 350 million, equivalent to $226 million. Japan Post Insurance Co., Ltd. is the sole investor of the bond with Wells Fargo Securities LLC being the arranger. This issuance follows IDB’s March announcement that it would direct up to $12 billion of additional lending to support countries in their response to the COVID-19 pandemic and its consequences. The IDB will concentrate support in...
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Midland Retirement Distributors Launches Summit Navigate WEST DES MOINES, Iowa, May 26, 2020 (GLOBE NEWSWIRE) -- Investors are well aware that in planning for retirement, few guarantees exist. The challenge has always been finding an ideal balance between growing money earmarked for retirement and simultaneously protecting it from volatility inherent in the market over a span of years. To address this growing concern, Midland Retirement Distributors – a distribution business of Sammons Institutional Group – is introducing a new fixed index annuity, or FIA, called Summit Navigate. This annuity is designed as an option for those nearing retirement and layers two interest-crediting...
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There are many term insurance benefits that make it an excellent investment to secure the financial safety of your family. One of the major benefits of a term insurance plan is the affordability of premium. It is possible to get a cover of Rs. 1 crore without spending a huge amount. Term insurance premiums purely reflect the risk of covering the life of the policyholder. For Non-smokers, premiums are lesser. Insurance companies also charge lesser premiums for healthy policyholders. Women policyholders typically enjoy lesser premiums than men. All these factors make it possible for people to opt for higher covers without it breaking the bank. The tenure for a term insurance plan lasts from...
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