Life insurance is chiefly a risk-management tool meant to offer financial protection to your dependents in the event of your death. If you are adequately insured, your life insurance should enable your dependents - spouse, children or parents - to maintain their current lifestyle and pursue their financial goals. ASPECTS OF LIFE INSURANCE Features of life insurance Eligibility: All citizens of India and persons of Indian origin (PIOs). Entry age: 18 years and above. This limit varies across insurers and policy types. Tenure: Typically up to the age of 80 years, depending on the policy type and insurer. Sum assured: Depends on the policy type, tenure, premium, your health and income. Premium...
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(Credit: Karin Jaehne/Shutterstock) We are all familiar with the fable. It’s about a frog being slowly boiled alive. For financial professionals, the way I see it is that, if the life and annuity industry were suddenly put into a pot of boiling water (diminished product guarantees), it would seek to offer consumers other product solutions or create new product offerings very quickly. On the other hand, if the industry is put in tepid water (bearable but consistent product downgrades and changes), which is then brought to a boil slowly, it will not perceive the danger. Customers needing these guarantees to protect their financial futures will be cooked. (In other words: They will not be able...
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How the COVID-19 crisis has highlighted the need for life insurance benefits These unprecedented times have left many in a state of financial insecurity and concerned for their financial futures. Unpreparedness for sudden unemployment or the loss of a family’s primary wage earner has people scrambling to protect themselves and their families should they be directly affected by this pandemic. COVID-19 has underscored the importance of protecting one’s family with life insurance. For many Americans, the easiest way of obtaining life insurance is through an employer benefit package. An employer’s insurance offerings are a core consideration when choosing a job, so it’s critical that in...
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New eligible AIA policies come with the option to gift life insurance to a loved one New independent research commissioned by life, health and wellbeing insurer AIA New Zealand highlights some of the reasons why New Zealand ranks near the bottom of OECD countries 1 when it comes to insurance protection. The research reveals more than a third of Kiwis 2 don’t want to think about the idea of dying and haven’t considered the financial impact it would have on their family. Two thirds of those surveyed 3 said that they’d never had a conversation with family about life insurance when they were growing up and one third 4 said that they don’t understand the benefits of life insurance. More than...
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Life insurance for Diabetics According to the American Diabetes Association, 34.3 million people are living with diabetes as of 2018. This means that 10.5% of the population has some form of diabetes. Due to the high numbers, life insurance providers are starting to offer more affordable life insurance to those who have diabetes with rates being at an all-time low. There are many factors that can determine the premium you will pay for life insurance as someone with diabetes. Can I Get Life Insurance With Diabetes? Yes, as a diabetic, you can get life insurance, as long as your diabetes has been under control for the past 6 to 12 months. Just like there are different types of diabetes, there...
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How Much Life Insurance Do I Need? Life insurance can help policyholders look after their loved ones once they are gone. There are many things to take into consideration if you want to ensure you make the best decision possible. In this article, we will be covering everything you need to consider when asking yourself how much life insurance do I need? What’s the perfect amount of life insurance for you? When trying to figure out actually how much life insurance you should purchase, there are a few key factors that you need to keep in mind. 1. Your Assets It is very important to calculate all your assets. This will help you find out what you have and what you would be leaving behind....
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Kiwis love their homes… most nights on TV you can find a show about home design, renovating or gardening. But these days the ‘Kiwi dream’ seems to come with a hefty mortgage. When you buy your first home it’s exciting to start planning all those BBQ’s, new paint colours, and stylish renovations. In reality there are some more serious issues to highlight, like what insurance you should get and whether you are in fact under-insured. Scarily, Kiwis are typically under-insured or not insured at all. A 2018 survey from TradeMe confirmed little has changed since 2013 when the survey was first run, with only 51% of respondents saying they have Life Insurance. In 2011 Massey University and the NZ...
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If you don't have life insurance, your loved ones might be left in the lurch financially if you pass away unexpectedly. But despite the importance of having life insurance, many Americans go without it, and for reasons that really read more like excuses. Here are the top reasons Americans don't have life insurance, according to a survey by Ladder and OnePoll -- and why they just don't hold water. 1. It's too expensive For 52% of Americans, the decision not to buy life insurance boils down to money. Meanwhile, the aforementioned survey also found that the typical American spends nearly $1,500 a month on non-essentials like restaurant meals and entertainment. Depending on the policy you buy,...
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HOUSTON, TX / ACCESSWIRE / September 6, 2019 / Edward Karram has taken the corporate world by storm. As an entrepreneur, public speaker and business coach, he has successfully run restaurants, construction companies, and martial arts studios. Eager to explore new opportunities, Karram stumbled into the financial realm and it was here that he found his true calling. Today, Karram is the Founder and CEO of SELL-U; a step-by-step training program that walks registered life insurance agents through all aspects of business, sales training and social media. With personal mentorship from Edward Karram himself, agents are able to grow their business and earn a seven-figure income. To date, the...
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Debra Gillispie lost her son Kirk Bickham Jr. in 2004 after he and two of his friends were shot and killed by a felon. Not only did she have to deal with his loss, she also had to deal with the fact that he had no life insurance. At that time Gillispie, who founded Mothers Against Gun Violence in 2004, thought it was her life’s goal to educate others about the importance of life insurance as a private insurance agent. However, she quickly learned that this would be a hard task. That’s why she started a free and public event to inform citizens on Milwaukee’s north side about the benefits of life insurance. “I wouldn’t know all of these things if it wasn't for Jr.,” explained Gillispie. "I...
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