We purchase a variety of insurance plans during our lives, whether it is a life insurance policy, health insurance or Insurance for automobile. We take these policies as we understand their importance for tackling emergencies, such as a sudden and unfortunate accident, death or a medical contingency. But what we miss out mostly is reading the insurance policy document, which has all the details with respect to benefits, conditions and terms of the policy. What most of us don’t know is that reading the term insurance policy document is just as important as purchasing the right plan. Always read your policy document to conduct an insurance policy check and determine whether it is in line with...
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Report: Chiefs add insurance policy on QB Patrick Mahomes' contract extension After making QB Patrick Mahomes the highest-paid player in sports this offseason, the Kansas City Chiefs have made another unprecedented move to protect their investment before the start of the 2020 season. According to a report from ESPN’s Field Yates, the Chiefs have attached an insurance policy to Mahomes’ record-setting contract extension. What exactly would this insurance policy protect the team from? If Patrick Mahomes suffers an injury that would prevent him from playing out the life of his contract, Kansas City would be able to recoup some of the money attached to his deal. Specifically, the...
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Due to travel restrictions, plans are only available with travel dates on or after Due to travel restrictions, plans are only available with effective start dates on or after Are you a jet-setter, always flying here and there? Or a snowbird who makes just one or two trips a year? Are you a spontaneous traveler who leaps at last-minute deals? Or a careful planner who books vacations a year in advance? Allianz Global Assistance offers insurance plans for all types of travelers: both single-trip plans that cover just one trip and annual travel plans, which can protect multiple trips in a 365-day span. Which plan is right for you: multi-trip or single-trip? That depends on your travel style and...
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Every year thousands of people trust life insurance brokers to help them find the right policy. In this article, we highlight the 10 benefits of using a broker. What is a life insurance broker? A life insurance broker works on your behalf to find the best life insurance policy for your circumstances. Most often, a broker will start by doing what’s called a fact find, gathering information from you about your requirements, history and health before finding the right policy for you. Life insurance brokers are paid by the insurer and therefore there’s usually no direct cost to use one. What does a life insurance broker do? A life insurance broker assists in every step of your life insurance...
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Multi-year insurance deals – do they make sense? Locking into two- or three-year deals with insurers has its advantages – and its downsides You’ve probably heard of multi-trip travel insurance, whereby one policy will cover you for a number of trips throughout a year. But what about multi-year insurance? It’s a concept which has only recently been introduced into the Irish market, but, in a time of plummeting deposit rates, an argument could be made for paying several years of insurance in advance. After all, if you’re earning just 0.5 per cent on deposit, a better use of your money could be covering your insurance needs for the coming years, thereby avoiding some nasty price...
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People facing job loss or salary cuts may be in financial distress and need funds urgently to meet their day-to-day expenses. Many people have lost their jobs as economic activities have almost stalled due to the nationwide loackdown that has been imposed to contain the spread of highly contagious Novel Coronavirus COVID-19. People facing job loss or salary cuts may be in financial distress and need funds urgently to meet their day-to-day expenses. Unless you have large savings, sustaining would get tougher each passing day without a regular source of income. Once savings dry up, you may break your investments, unless you lose a substantial amount by doing so. In absence of adequate savings...
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Best LIC Policy for 10 Years Life Insurance Corporation is the oldest insurance provider India and was established by the Government of India. LIC offers a wide and variant range of products which include term life plans, endowment plans, savings as well as investment plans, child plans, retirement plans, etc. LIC is a state-owned insurance company and has a large customer base in India. LIC offers Insurance plans for different terms. Best LIC Policy for 10 years LIC of India offers various Insurance policies to serve the variant needs and requirements of its customers. Some of the best LIC policies for 10 years offered are discussed below. 1. LIC single premium endowment plan This LIC...
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Actual return you get is not the ARR of 8% or 4% shown in the benefit illustration but net of various charges such as fund management, premium allocation, admin and mortality When you purchase a life insurance policy, you are given a benefit illustration which shows the amounts of money you are paying (premiums) and the amount of money you get (return). Since the return you get is a function of the underlying market which is under nobody’s control, it is calculated at two assumed rates of return (ARR) of 8% and 4%. It may sound very basic, but for those who are not aware, the ARR of 8% or 4% is not the return you get. The ARR is the assumed return from the underlying market whereas the...
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Collision Hub CEO Kristen Felder said “distinct policy language changes” were underway. Automotive Education and Policy Institute founder and collision industry attorney Erica Eversman said she thought repairers would see “a lot of changes in insurance policies coming up.” She said some insurers might start “really playing with the idea” of creating “really HMO-style networks.” In states where an insurer can demand a consumer use a particular shop, “they may starting moving in that direction,” Eversman said. P&L Consultants Larry Montanez III noted the absurdity of an insurer claiming, “‘We’re not the repair...
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While lawmakers were making history on the first floor of the Maryland State House Wednesday, an ugly contract fight with potential legal implications for the state was unfolding one floor above. “This is probably the worst way to handle a procurement and a lease negotiation since I’ve been governor,” said Gov. Lawrence J. Hogan Jr. (R) — who knows a thing or two about real estate. “I don’t think this process has been fair to anyone.” Wednesday was the opening day for the three-month General Assembly session, full of history and ceremony. But coincidentally, the Board of Public Works was also meeting in the State House — just the second time...
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