There are four major types of life insurance from which clients can freely choose. Prior to considering a particular policy, it's essential to understand the requirements and advantages of all four.The first type is the Term Life cover, which is a clear-cut type of insurance. Whenever you go for this type of insurance, you always end up paying for specific time durations. Within that period, your selection or list of beneficiaries will receive...more
The recent economic crisis has caused a lot of people to lose their jobs and their life savings. While it is important to cut down on your expenses during an economic recession, there are some things that people cannot do without. One of these things is life insurance.Getting yourself insured is one of the best assurances your family can get. The financial crisis has been hard for a lot of people, and some of them have decided to do away with...more
Life Insurance is a sort of policy that people buy from the insurance companies that can be the source of safety and financial stability of the family after his death. Usually, Life insurance is the security for the earning member of the family. That means if anything happens to the person on whom the entire family relies, and if his earning stops, then his family should not suffer from any financial problem. Does best life insurance necessarily mean the cheapest Life Insurance? Best life insurance definitely does not mean the cheapest Life Insurance policy in the industry. This is so because Life Insurance has 2 distinct components, namely Protection and Investment. Depending on the requirements of a person, a combination of the two will be the answer to his needs. The correct mix of the Protection and Investment portfolio actually provides for the best life insurance according to his needs. Thus, cheapest Life Insurance might not provide for the best combination according to his requirements and hence it might not be the best insurance for him. Why do we need to compare insurance plan before purchasing one? Insurance comparison would give him a number of policies from different...more
When one pay for insurance, it means that you are buying something that you would never use it, but in case you want to file an insurance claim, you would come to know how important it is to have right kind of coverage. Follow the below given instructions in case you are a first time buyer for life insurance.Pay less by life form healthyIt is a...more
Thinking about getting a life insurance policy may not be on the top of everyone's list of things to do, but it is nevertheless an extremely important thing to do for everyone who has loved ones.Of course, it is unsurprising some people don't like to think about what may happen after they have gone. But the truth is that it is not a morbid thought,...more
Long term insurance is mainly intended to protect the impact of a possible disability through a much longer period of time. The insurance company has to cover a percentage of the monthly salary for a much longer period of time, when you qualify as a disable individual.As with various types of insurance, there are multiple factors that will affect and change the terms of this insurance. The policy duration is not the only thing that you need to care about. Thus, it becomes utmost important for you to read the terms and conditions of the policy carefully. There might be some conditions on which you may not agree, thus, you have to go through the contract wisely.You have to also see that not all the insurance policy covers the same percentage of your salary. These percentages can vary a lot, 40-70%. You should not neglect this important detail. It is perhaps the most important factor that will give you information on your income, in case you become disabled.Since it is a serious thing, thus you need to search for some good insurance service providers. Enquire about your obligation towards the insurance company. A little bit of research becomes essential, after all it has got serious...more
Long term disability insurance companies provide you with wider scope of benefits ad options. This insurance plays a bigger role in case of policyholders and investors, who plan to work together along with the company to achieve their financial...more
Does the amount of alcohol you drink affect your life insurance rates? While life insurance companies may not be primarily concerned with how much alcohol you drink, they are definitely concerned about any adverse effects your drinking may have on...more
So, it is a well known fact that improving your health can improve your life insurance rates. A few chronic health conditions that can prevent you from getting a good rate on life insurance are high blood pressure, diabetes, cancer and heart disease....more
Being overweight is usually a cause of concern when applying for a life insurance policy. Some people who have challenging health issues related to being overweight think they cannot get any insurance at all and therefore, may not even try applying...more
Another way you can save on premium payments is by making annual payments. Most life insurance companies offer several payment options. You can pay monthly, annually or even quarterly or semi-annually. However, life insurance consumers may not know...more
It is fairly obvious that your life insurance policy should name a beneficiary since the sole purpose of a policy is to ensure that your loved ones will be financially supported after your death. Most life insurance policies bequeath their...more