Life insurance is an important part of your overall financial planning at any age. Buying a policy helps to provide financial stability for your loved ones when you’re gone. Here are some things to consider when looking to purchase life insurance in your 20s, 30s, 40s, 50s, 60s, and beyond. What types of life insurance policies are available to me? There are generally two basic types of life insurance to consider – term and permanent policies. Term life insurance Term life insurance is a policy that lasts for a set number of years (the term) as long as the premium is paid. Once the term expires you are no longer covered under the policy. To continue the coverage you generally have two...
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Buying life insurance is an important thing to do, and picking the right life insurance policy is a big decision. If you’re young, it’s easy to think — I have time for that later. At my age, do I really need life insurance? And what is the best age to buy life insurance, anyway? Should a 21 year-old have life insurance? How much life insurance should a 25 year-old have? And what age is it too late to get life insurance? Naturally, you have questions, and we have answers. In this guide, we’ll tell you the best age to buy life insurance, with some tips and pointers to get the most from your policy, no matter how old you are. What is the Best Age to Buy Life Insurance: The Younger the Better...
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Best Term Plan Claim Settlement Ratio A term insurance plan is bought as an assurance that if anything happens to you, your loved ones will remain financially safe. As a result, you need to choose the best term insurance plan with the best claim settlement ratio. If you do not buy your cover from an insurance company that has a high claim settlement ratio, your family may not receive the death benefit after your demise, and the entire purpose of buying term life insurance would lie defeated. In this article, we tell why it is important to choose a good term life policy from an insurer who has a high and healthy claim settlement ratio. Read on to get more information on this very crucial...
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Exide Life Insurance Company Limited Investing in a life insurance policy is considered as the foundation of your financial planning. A life insurance policy is very helpful in securing the future financial needs of your family in your absence. In a life insurance policy, you are required to pay a certain amount of premium for a specific term and in return, you are offered the benefit of a life cover. Exide Life Insurance Company Limited is one such leading insurance provider offering a wide range of life insurance products carefully curated as per your insurance needs. Company Overview and Profile Exide Life Insurance Company Limited was established in the year 2001 having headquartered...
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SINGAPORE - Market volatility and Singapore's subdued economic growth weighed on insurance sales in the first nine months of 2019. Singapore's life insurance industry saw new business, in terms of total weighted premiums, shrink by 4 per cent to $3 billion for January to September, compared to the year-ago period. This weaker showing is in line with Singapore's economic performance, the Life Insurance Association, Singapore (LIA) said on Thursday (Nov 7). The city-state's gross domestic product looks to have grown by just 0.1 per cent year on year in the July-September period, according to flash estimates released last month. Sales of annual-premium policies grew 4 per cent from a year ago...
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To expand on Aganju's answer, what you are describing is closer to a lifetime mortgage + annuity. With an annuity, you pay an upfront lump sum amount to purchase a guaranteed future income until your death. This is very much the reverse of a typical life insurance contract (term assurance) because it insures you against living too long (i.e. becoming destitute in old age). A lifetime mortgage (also called equity release) is a way to unlock the value in your assets (i.e. your home) which will be repaid on your death (or sometimes when you need long term care). If you take out a lifetime mortgage, the insurer will make a lump sum payout now and will recoup the value (plus interest) from the...
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Life Insurance What would happen to your loved ones in case of your sudden demise? Would be they be kicked from their home for failing to remove the mortgage loan? Or would their medical coverage be withdrawn? And what about your kids, would they still attend at their current school and who would pay for their higher education? These are some of the reasons why you should get a life insurance policy from Hardee Insurance Group, Inc. What is a life insurance? Life insurance provides financial protection that would arise as a result of a premature death of the insured. Most of the financial consultants consider a life insurance policy as the cornerstone of any sound financial plan. A life...
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(MoneyWatch) "Do I still need this whole life insurance policy?" asked a 65-year-old, who was trying to prepare for retirement. The answer is annoying: It depends. Life insurance is a necessary component of a family's financial security. That said, I often take issue with the insurance industry, which seems to recommend insurance as the solution to every financial problem. Not every person needs life insurance at every point in life. Life insurance is critical when your death would cause a financial hardship for your survivor(s). It is also an excellent tool for estate planning. But many retirees continue to pay for coverage that they may not need, simply due to force of habit. Let's start...
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When is the right time to get life insurance? If you are asking yourself, “When is the right time to get life insurance?”, then the chances are that you’re also thinking about what impact the loss of your income would have on those around you. This typically means that the right time to consider life insurance can be at multiple points in your life. It is often recommended to get life insurance when you get a mortgage. However, mortgage lenders cannot insist that life cover is in place for a mortgage, but it could be a good idea to get life insurance to ensure your mortgage debt is paid. Life insurance can also become important to consider when you have children. As you get older, it may...
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If you have had cancer, you should know that life insurance for cancer patients is available. The best way to know whether you can qualify is to learn about the way a life insurance company will evaluate you as a cancer survivor. There are many scenarios where a cancer patient can buy life insurance and at an affordable rate. An excellent approach to finding a cancer life insurance policy is to find an independent agent who does business with numerous life insurance companies. Contact a local agent in the Trusted Choice® network today to learn about the availability of life insurance for cancer patients and get the help you need to plan for the future. Interesting Statistics about Cancer in...
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