It is important to ensure that your personal information always remains updated with the insurance company. This includes your address. An individual is free to appoint anyone he/she desires as the nominee in the life insurance policy. The nominee receives all the money in the event of the policyholder’s death. 1. I am planning to purchase a term plan for life cover and to save tax. What should be the duration of the cover? I am 25 years old and have just joined work. Ans: It is important to be aware that a term plan is a pure protection cover, which works best as an income replacement tool, offering financial protection to life’s uncertainties. The policy term or the duration of such...
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Employer-provided life insurance benefits, 2011 In March 2011, 58 percent of private industry workers were offered life insurance benefits by their employers; of these, 97 percent chose to enroll in this benefit. Among full-time workers, 73 percent were offered life insurance and 97 percent participated in the benefit; among part-time workers, by contrast, 14 percent were offered life insurance and 91 percent participated. When participation rates of workers in the lowest and the highest quartiles of earnings are compared, the difference is also significant, with 22-percent and 80-percent participation rates, respectively, in the two categories. The workers' earnings also affect the...
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LIC recently raised over Rs 1,000 crore at a rate of 5.90 per cent, one of the best in the market The sovereign or the central government raises money at around this rate from banks and institutions. Interest rates are expected to reduce further, which offers opportunity to raise additional resources. Other stable source for LIC is the mobilisation of fixed deposits from the market, especially retail investors. At a time when the non-banking finance companies are running helter-skelter to raise resources and manage their loan portfolio, the housing finance arm of Life Insurance Corporation (LIC) has come out with an all-time low home loan interest rate of 6.9 per cent for loans up to Rs 60...
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LOS ANGELES, CA / ACCESSWIRE / June 17, 2020 / ( https://compare-autoinsurance.org/ ) has launched a new blog post that presents the most common and easiest methods drivers can follow to get affordable car insurance rates. Nowadays, getting cheap car insurance that offers a lot of coverage is essential. Luckily, even in these tough times, there are many ways to get cheap car insurance. By doing proper research, drivers can find an auto insurance policy that is at the right price. To find cheaper car insurance policies, drivers can follow the next steps: Compare multiple quotes. It's crucial to compare car insurance quotes from multiple companies. Comparison shopping can help drivers uncover...
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Life insurance is a contract between you and an insurer. The life insurance premium varies by locations, insurance companies and, more importantly, a person's own health, age and life styles. In this article, we will go through the factors of the life insurance premium and what types of life insurance you can purchase. What factors impact the cost of Life Insurance? Bundling of auto and home policies The common types of life insurance As you may have heard lots of types of Life Insurance, there are primarily two major types of life insurance: term and whole life. Usually, life insurance sold to individuals are different than those for groups. Below we can find more information about those...
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Life insurance companies work with actuaries and underwriters to calculate the risk of insuring your life. There are several factors they consider that influence the rates they charge for your term life insurance policy. You may find that you can make positive changes to some of these items. To get better rates, all you have to do is work on those factors you can control. Mortality rates are tools that underwriters use to determine the risk of insuring your life. For this reason, those who are young usually get the best term life insurance rates. The older you are, the more likely you are to have health concerns. A 20-something-year old will probably pay a lower rate than a 60-something-...
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While many companies don’t provide smoker’s life insurance policies, AIG Direct may be able to help you find coverage at affordable life insurance rates for smokers. If you smoke, you may not be offered the lowest rates, in comparison to applicants who do not smoke. However, if you are shopping for life insurance for smokers, there is affordable coverage out there. Be Honest About Your Habit If you are a smoker, it's important that you share this information up front. Your life insurance medical exam, which is required as part of your application for term life insurance for smokers, will detect the presence of nicotine in your system as part of the life insurance nicotine test....
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All about Average Life Insurance Cost Life insurance rates are influenced by a number of factors. But the most basic criteria based on which the average life insurance cost is calculated are the state of health and age of the person being insured. To be even more specific, life insurance quotes are hugely dependent upon the health risk an individual may pose to the insurance company. Riskier the health of an individual, greater is the chance for insurance claims and consequently greater will be the average life insurance cost for such people. For instance, a person who smokes will have to pay 3 times more premiums than a non-smoker of similar age. Average Life Insurance Cost quotes by just...
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Health News Why Life Expectancy in the United States Is Lower Than Cuba or Slovenia Researchers say economic disparity, obesity, opioids, and suicide are all factors in the United States’ relatively low life expectancy rate. Getty Images The average life expectancy rate in the United States has declined slightly the past three years to 78.6 years old. The average is five years lower than Japan or Switzerland. The rate is also lower than Cuba and Slovenia’s average life expectancy. Experts say economic disparity is a chief reason for the U.S. decline. Experts add that the opioid epidemic, a rising suicide rate, and the obesity crisis are also factors. Life expectancy rates around the world...
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It is fair to conclude that cheap life insurance is desired by us all. We want a the cheapest policy from a highly rated carrier. If we take the time to examine life insurance company ratings we will find that there are very few that cannot stand up to serious scrutiny, the fact is they are all pretty safe. We should therefore find a solid carrier that will provide a cheap life insurance premium. As most policies sold today are term life insurance policies close attention is paid to cost, actual premium outlay. Whole life and universal life should be examined differently. We should look at actual premium outlay with close attention paid to net cost or return. The cash values of these...
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