Many times people are convinced by slick insurance sales people to purchase life insurance policies. But these same slick sales people seldom provide all the details of the policies including benefits, exclusions, and other terms and conditions. What most people aren't aware of is that there are several different types of life insurance policies. Depending on your needs at the time, one type of policy may be more suitable for you than another....more
Homeowners will quickly find out that in order to obtain finance, they will be required to have life insurance. This is for the purposes of repaying the loan back in the event of the homeowner passing away. Past policies were known as decreasing term insurance, this meant that as the value of the loan decreased, so did the value of the life insurance.Nowadays a level term policy seems to be more favored. This is where the insurance amount is the...more
Buying long term care insurance is a serious decision, so be extra careful in deciding the type of policy and what it covers. Insurance companies have different definitions of some terms of services that make it quite confusing and vague for policyholders. For instance, there are companies that define "disability" as a condition that makes an individual unable to perform regular activities, while others define this as serious medical condition. it's important to ask your insurer what those services really mean from their standpoint. Here are other things you should watch out for in your policy:Inflation protection In other insurance, this is referred to as "deductible." This feature allows the price of the policy to remain the same regardless of inflation. The price of the premium is not affected, but the benefit amount of the policy should automatically increase each year to recuperate the costs of long term care. In deciding whether to purchase inflation rider or not, research first on how the cost of nursing home has increased in recent years in the state where you belong. Simple inflation is much cheaper than compound inflation rider, but the type should depend on your needs...more
Most of us secure insurance for house, car and properties, but we oftentimes overlook the most important investment for our retirement: long term care insurance. Only few people care of buying long term care insurance, and the rest are confident of using their lifetime savings at any means. This sparks the question: Who needs long term care...more
For term life insurance-the simplest life insurance product out there-the usual turnaround time from application to offer is 46 weeks. 46 weeks? What are those shirts and ties doing at the office all day? Well, it turns out that while you're waiting to hear from the insurer, the insurer is waiting to hear from other parties. A peek into the...more
When planning your retirement, you may have considered purchasing a long-term care policy to help address any medical expenses you might encounter during retirement. The expenses associated with this purchase could deplete your nest egg in some cases, while it could even augment it in others. Buying a long-term care policy has its advantages and disadvantages, depending on your own personal and financial situation.If you buy long-term insurance, you can help prevent the costs of extensive and intensive long-term healthcare from draining your retirement funds. If you have a chronic disorder or potentially debilitating disease that requires medical attention, you can purchase a good insurance policy to address the expenses, and reduce their strain on your finances and those of friends or family.There are numerous disadvantages to buying this type of medical insurance policy. For starters, plans that are individually purchased can range from a thousand dollars to a few thousand in yearly premiums. The figure will be larger if you start paying shortly before or during retirement, and if you need additional features or coverage. This is one of the main reasons why Americans don't buy...more
What do you understand by the term life insurance? It is all about ensuing a great future of your family. It is a great way to manage funds after your death. Being the right way to protect the interests of your loved ones, the life insurance is a...more
There are several life insurance attainable in the market to the user, out of all term life insurance is normally preferred, as it is considered to be the cheap of all the insurance policies. Generally life insurance renders the...more
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When we speak of Life Insurance we can sub divide it into a cash value or no cash value scale. Policies that have investment options fall into the cash value category. Alternatively, the non cash policies will only have death benefits.To get the life...more
Life Insurance can be seen as falling into a cash value or non cash value scale. Policies that have investment options fall into the cash value category. Alternatively, the non cash policies will only have death benefits.By doing some important...more
Yoga has had a profound impact on human mortals since time immemorial. This five thousand years old phenomenon has been at the heart of the Indian civilization through the ages. Thousands of people worldwide are now practicing this beautiful...more