It is no secret that people who are considered seniors pay more in life insurance rates than someone how is, say, 20-years-old. However, it is important to note that while seniors pay higher premiums, it is balanced by lessor needs. Someone who is 50-years-old has fewer life insurance needs than someone his is just starting out in life.For the majority of life insurance policy owners, the purpose of the coverage is to protect our loved ones, in...more
Over the past couple of years, we have met with hundreds of individuals here in Asia that thought they had the most appropriate life insurance coverage while living abroad. The operative word here being "thought"! When reading through the details of their policy, we found that nearly 20% of all policyholders would have experienced complications when filing a claim in the event that anything were to happen to them while living...more
Having proper life insurance is of high importance if you want to make sure that your families future is well secured after you have gone. Many families are left with endless bills and a decreased incoming income and are faced with many financial troubles and stress. Its an extremely difficult time for the families, and no one wants to think about such dark future, however, eventually the time does come, and the better you are prepared, the more secure your family will be, at least financially. Its vital however, that you make sure that you shop for life insurance properly and get the most adequate life insurance for you. There are two main types of life insurance, term life insurance and whole life insurance. Once you have decided which type of insurance you want to invest in you need to shop for the right insurance company. Term life insurance is for a specific length of time, usually around 10 years. This means, that if you are in excellent health and will most likely pass the 10 year mark, you should not invest in term life insurance. Its far less expensive than whole life insurance, however, should you pass the term, you loose all investments. While with whole...more
A lifestyle insurance coverage coverage is really a commitment entered among an insurer as well as the insured or the coverage operator. This agreement stipulates that a benefit need to be paid towards beneficiaries or even the insured if one thing takes place towards the insured. This event or happening can either be an accident,...more
Elimination period in long term care insurance is commonly referred to as deductible, or "waiting period" that the coverage starts to pay out the benefits. These are the number of days that the policyholder must pay out of his or her own money before the insurance takes over. This so-called deductible works the same as major medical insurance...more
Elimination period in its simplest definition is the period when a person has to pay long-term care services out of his or her personal resources and assets before the insurance takes over. The period for most policies ranges from 0 to 100 days. It has been said that shorter elimination period can give higher long term care premiums. Otherwise, choosing longer elimination period for cheaper premiums could mean costly out-of-pocket expenses to cover the elimination period. If you go either for longer or shorter elimination period, you must have enough reserves aside from your insurance to prevent future dilemmas.The Tricky PartMany insurance companies use this scheme to save on the days they have to pay for claims. You can buy zero-day elimination, but most agents will ask you to purchase a 90 day elimination period. The 90 day elimination is derived from the 100 day period of Medicaid coverage. Elimination period is tricky in a sense that it is defined differently in most policies. Some financial experts surmised that elimination period system is designed to shun claims. Here are some of the conflicting definitions of elimination period:1.Most policies describe a day of elimination...more
Ask this question of a person and they are in all likelihood going to answer in the negative. They hold the viewpoint that joint life insurance policies aren't helpful at all. These are people that feel single policies are better. They literally hold...more
We have a lot of practice at making purchase decisions. We may get so good at the purchases that we are accustomed to that we have extra difficulty when presented with an unfamiliar purchase, like shopping for life insurance. Where do I start? How...more
What does whole life coverage assume?As you can guess from the name, whole life coverage is designed to keep you protected for your entire life in contrast to term insurance where there's a specific period of time for this. With most whole life...more
Getting the ideal auto insurance for your teenager ward can be bit tough experience for majority of parents. Here you should remain prepared to pay hefty amounts for getting a suitable insurance cover. But remember this is a reality and...more
Usually when you set up a life insurance plan you can choose the amount of cover that you wish to set up and this life insurance sum can be used for whatever youd like (covering a mortgage or debt, providing for family, etc). However another...more
I can honestly say that Bob Proctor and the ideas he teaches in The 11 Forgotten Laws have changed my life. Before March 2010, I didn't know anything about the Law of Attraction, although I was aware of the physical effect that our...more