A factor to determine of how much life insurance to purchase is your age and the age of the survivors.
The amount of life insurance you purchase counts largely on your personal situation, what is your lifestyle, how much your dependents /survivors need, and what your future needs and circumstance for your beneficiaries. (more…)
Unlike most acute health care insurance, almost all long-term care insurance is sold on an individual rather than on a group basis. Moreover, those insured must pay all the premiums themselves. By contrast, most acute care group insurance is employment based and largely paid by the employer. Only about 10 percent of the elderly, however, are still working, and only a minority have any employer-sponsored health benefits. (more…)
As we dig further into the area of insurance, let me make a statement that will help guide you through the fundamentals. You should have assets insurance, not liabilities. This can sometimes be a difficult and emotional pill to swallow. I know a lot of parents who have fallen prey to the misguided statement that you need to insure your children. Let me be clear on this: You do not need (more…)
Hedging risk:
The main purpose of insurance is the hedge the risk of loss. The risk-bearing onus is shifted from the owner of the insured item also referred to as the insured to the insurer. A premium is paid to the insurer and in return you get a guarantee against larger losses. If a quantity can be attached to a risk, it can normally be insured. (more…)
When the owner of an annuity enters into an annuity insurance agreement they must always understand all of the terms to the best of their ability. If there are additions, withdrawals, or a complete liquidation to be made, there may be restrictions or penalties.
The contract owner can be an individual, couple, trust, corporation, or partnership. The only requirement is that the owner must be an adult or legal entity. (more…)
Insurance riders are valuable options that you can choose as additional to basic insurance contract you have. By having insurance riders, you as the insurance holder will get more benefits as extra to you basic policy. Some of insurance riders are so common that they are naturally inserted as part of the policy. Additional premium are quoted as component of the whole insurance policy premium. This give the policy holder less total premium compare of buying a separate stand alone insurance policy. Below are some several insurance riders that can be found on most insurance providers to give additional benefits for you: (more…)
Today, people not only look at life insurance merely as life protection, it is become a combination of protection and investment as well. More than ever, people use life insurance as investment or to complement their retirement planning. It is expected that most of us will never maintain our current lifestyle form our saving or current pension plan during retirement years. You should consider life insurance as investment, if you are serious about accumulate some money for your retirement. This article will highlight some important aspect of life insurance as investment choices for your retirement planning. (more…)
For some people, life insurance is not simple and cheap product. So many elements must be taking into consideration before choosing the right one. Do you know that technical aspects and jargons in life insurance are easy to understand for most people? This article will briefly suggest why you must buy life insurance and examine top 7 myth and misconceptions regarding life insurance. (more…)