COVID-19 Update In light of the ongoing Coronavirus (COVID-19) situation, the PAX team is working hard to offer you the best service we can whilst also safeguarding our colleagues. All PAX colleagues are working from home until further notice, and are using the latest technology to connect with our customers, ensuring we are open for business as usual. Please note, you may experience delays in receiving renewal documentation from us, however rest assured we are still here to keep you covered. If you need any assistance please contact us on 0800 2124 800. PAX Personal Accident and Optional Life and Critical Illness Policy: Q Is there cover for death as a result of Covid19 under this...
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There are different types of life insurance that can help protect your family. Here, we take a look at some of the various stages of life where a family life insurance plan could help protect your nearest and dearest. Who needs family life insurance? Getting married and having children tend to be the biggest triggers in making life insurance decisions, so it’s not uncommon for people to only seriously consider life insurance once they have a family. But which product is right for you? There are countless UK family life insurance policies, but rather than wade through different policies, you should start by considering your own life situation. We've profiled some examples of family set...
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Protect the ones you love. You buy life insurance because it’s the best way to protect your loved ones. It’s a financial decision…kind of. It’s an emotional decision…sort of. It’s about love and caring and the future…most definitely. Still, millions of people buy life insurance every year for reasons that are often difficult to express. At the same time, the reasons are simple and obvious. That’s the thing about life insurance. The idea may be simple, but the reasons behind it cut deep, to our very core—almost to an instinctive level. At the heart of it, if you're like most people, you buy life insurance for six very good reasons. Life insurance is about taking care of loved ones. It’s ...
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Life today is changing. People are living longer and working longer — well into what was once considered the traditional retirement years. At the same time, family and friends remain a top priority. This changing dynamic may mean you are in for more of life's surprises. So, how can you prepare for the unexpected events that come with life's inevitable changes and help look out for your loved ones? Disability, life, and long-term care insurance can help provide financial security in hard times 1. Disability income insurance Your income may be your largest asset, so it's important to consider protecting it. If you are approaching retirement, it's also important to keep in mind that any loss...
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September is life insurance awareness month. While we don’t sell life insurance, we do analyze the type of coverage and the amount needed based on your age, income, assets, and family size. By not selling life insurance, we are able to give our clients unbiased advice to obtain necessary and adequate coverage. Especially for young families, life insurance is an important part of the overall financial plan. A common rule of thumb is to obtain life insurance coverage for 10x your income. However, the amount of coverage a young earner with a family needs is 15-20x their income. For example, if your annual income is $150,000, then you would obtain $3,000,000 in coverage. The idea is that the...
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Life insurance is something that everyone should have. Why? Because this policy will help take care of things after you pass. For example, your burial expenses and debts can be paid; your family can have extra income to help them financially; and the money can even be used to pay for your kid’s college tuition, wedding, or whatever is needed. If you don’t already have a life insurance policy in Niles, OH, you’re thinking about acquiring a new one, or you want to add to an existing one, here are three tips to help you choose the right policy and save money in the process. 1. Work with a Reputable Agent To guarantee you purchase the right life insurance policy for you or...
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As far as estate planning goes, if you have loved ones in your life, putting together a life insurance policy is up there in importance, right along with creating a will and saving for retirement. When we found out I was pregnant with our first child, my husband and I decided it was time to put together a policy. We were still relatively young — the younger and healthier you are when you set one up, the more likely you are to find the best deals — and we both knew we wanted to make sure the other was looked after should something happen to one of us. The first part of signing up for life insurance was relatively easy — a couple of quick forms (the family health history did require a couple...
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The author is not pictured. SDI Productions/Getty Images I’m a freelance writer and my wife’s a nurse, which means we rely completely on her employer-provided health insurance. Usually, it’s great. But when my wife switched jobs? Not so nice. The Cadillac coverage we normally got from her work translated to COBRA payments in excess of $2,700 per month – for two people in their 30s. But when we needed it, COBRA was still worth it because my wife has a chronic illness that requires regular care. I’m no expert at this whole freelance writing thing. But if I could give one piece of advice to my colleagues, it’s this: find and marry someone with excellent...
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3 Instances When Life Insurance Makes Sense Many people think they don’t need life insurance for one reason or another. A lot of these same people also think life insurance is too expensive (it’s not). Add these two together, and you get a population that simply doesn’t prioritize life insurance. Even if that’s you, the following scenarios can make life insurance a priority, and a policy should be strongly considered. You own a business. If you’re a business owner, a life insurance policy can be used in several ways. You can use it to fund succession planning, or you can provide an inheritance to your heirs who won’t be a part of the business once you’re gone. Not to mention, it can keep...
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By Insurance Specialists, Inc. With new commitments, having children, and buying their first home, young families often overlook purchasing the life insurance they need. However, if a family member dies unexpectedly, life insurance is there to ensure their family can maintain their standard of living, remain in the home, and keep their plans on track. The following are common misconceptions that prevent young people from buying the life insurance necessary to protect their loved ones in the event of a tragedy. Myth #1: Only Primary Breadwinners of the Family Need Life Insurance No matter the amount of the paycheck, your families relies on everyone doing their fair share to contribute. Even...
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