Insurance is a quintessential financial product that everyone needs to have. There are various types of insurance, from life, health to general insurance. Each type of insurance protects you against the negative consequences of a low-likelihood event like death, illnesses or accidents. Unfortunately, despite its importance, many of us delay getting one due to the perception of it being complicated. Read on as we demystify life insurance. What is life insurance? Life insurance may be categorised into four major types: Term life, whole life, investment linked and endowment plan. Term life policy is the most fundamental type among the four. The other three types of insurance build upon the...
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Discover. Learn. Teach. Find the information you need to educate yourself, your prospects and clients. Planning approaches for your clients: simple to advanced Innovative ways to use life insurance for individuals and businesses. FOR THE GOALS THEY HAVE IN LIFE Learn more about the different life insurance policies available from AXA Equitable and MLOA. Variable Universal Life COIL Institutional Series Variable Universal Life Variable Universal Survivorship Life are trademarks of Standard & Poor’s and have been licensed for use by AXA Equitable. All guarantees are based on the claims-paying ability of the issuing life insurance company. Guarantees do not apply to the variable...
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What is Life Insurance? You are on track to reaching your goals in life. You may have landed your first full-time job, moved out of your parents’ home and purchased your own home, be thinking of getting married or just landed a big promotion. You might also be thinking of getting life insurance to protect yourself, your loved ones or your assets. Life insurance can help you protect your family and dependants from financial hardship and debt when you are no longer there to provide for them. How does it work? Life insurance, like all types of insurance, works by spreading financial risk among a large group of people, who pay into a pool or fund. This minimizes costs for an unexpected...
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For many people, the benefits provided by their employer can be nearly as important as their wages. Aside from vacation and sick time, many full-time employees are also able to take advantage of a 401(k) match or pension, health, dental and vision care, and maybe even a few employee discount opportunities. Another common benefit employees may partake in is employer-paid life insurance, or group life insurance. So What is Group Life Insurance? Group life insurance is one type of life insurance where a single agreement, or contract, covers an entire group of people, like the employees of a company. Typically with an employer-paid life insurance policy, the owner of the life insurance policy...
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Whole Life Insurance (WL), along with its cousins Variable Life Insurance (VL) and various types of Universal Life Insurance (UL) including Variable Universal Life (VUL) and Index Universal Life (IUL), are frequently sold inappropriately to doctors and other high income professionals. In today’s post, we’re going to answer the Top 10 Questions About Whole Life Insurance These are questions I get by email, by blog post comment, on the WCI Forum, and in real life. It will also summarize the many posts on the subject that I have done over the years. # 1 Should I Buy Whole Life Insurance? Probably not. WL does four things: WL provides a death benefit in case you die while someone...
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White Paper: Everything Charities Need to Know About Life Insurance Gifts Richard M. Weber, MBA, CLU, AEP® President, The Ethical Edge, Inc. Founding Principal, Two Hawks Consulting, LLC Purpose of this paper: Life insurance is often proposed as an appropriate gifting vehicle for charity. Some of the time it is the gift of an existing policy or policies that are offered directly by a donor. At other times charities are ideal prospects for agents seeking to promote life insurance policies that may add value to a charity’s or foundation’s investment portfolio, and which may also provides substantial financial motivation to the agent. This paper seeks to describe the legitimate attributes of...
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Do you consider yourself well-versed in all matters life insurance, or have you avoided the topic altogether? If so, you're not alone. In fact, just 16 per cent of surveyed Canadians feel like they have a strong understanding of how life insurance works . What's worse, there are several myths floating out there that people believe to be true. We're setting the record straight by debunking six key myths. Myth No. 1: Life insurance is too complicated. Thinking of the future ― in particular your own death ― can be depressing. On top of that, the various types of life insurance may seem confusing. Again, you're not alone in this: A whopping 88 per cent of surveyed Canadians aren't familiar with...
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Life insurance: Everyone should have it. Insurance provides protection. It helps manage financial risk and creates a safety-net. We all die; life insurance leaves resources for those dealing with the aftermath of our departure. And while you’re planning your exit, take time for the present, too. We’ve included some common sense steps – a sort of DIY insurance – that will help you enjoy your life. Term or whole life insurance: What’s the difference? Whole life insurance combines life coverage with an investment fund. This policy pays a stated, fixed amount on your death. The value of the policy builds -- tax-deferred -- each year that you keep the policy. You...
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Why you Need Life Insurance When Buying a Home It’s said that buying a house is one of the most stressful life events, and if you’ve recently entered the property market, you’re probably vigorously nodding your head. It’s said that buying a house is one of the most stressful life events, and if you’ve recently entered the property market, you’re probably vigorously nodding your head. Other than the dodgy seller and the ruthless agent, there’s another potential obstacle to your white-picket-fence of homeowner bliss that’s lurking in the neighbourhood. It may surprise you to learn that, if you have a home loan and something bad happens to you, you could lose your home. If you can no longer...
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Is Permanent Life Insurance? Does Permanent Life Insurance Cover? Does Permanent Life Insurance Work? Much Does Permanent Life Insurance Cost? Permanent Life Insurance Taxable? to Buy Permanent Life Insurance to Get Permanent Life Insurance Permanent Life Insurance an Asset? Is Permanent Life Insurance Important? Permanent life insurance is a form of life insurance that covers you for life and offers your family protection from financial hardship. Additionally, a permanent life insurance policy has a cash value accumulation feature that grows steadily over time. In some cases, you can borrow or withdraw a portion of the cash value and use those funds for living expenses or to pay...
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