What Is An Insured Annuity?
Are you looking for a way to provide for your family and protect your assets?
An insured annuity is the perfect solution. It provides guaranteed income, while also providing protection against inflation and market fluctuations. In the end, your assets pass on to your loved ones in an efficient way.
With an insured annuity, you can rest assured that no matter what happens in the future, your loved ones will be taken care of.
Read on to learn more about how an insured annuity works.
Life Insurance Application: What You Need To Know
You’ve decided to buy life insurance. Now what?
The life insurance application process can seem daunting at first glance, but it doesn’t have to be!
In this guide, we’ll show you how easy it is to apply for life insurance. When you’re finished reading, you’ll know how the step-by-step process from the moment you sign up to the day you receive your life insurance policy.
Life Insurance Underwriting: What You Need To Know
What happens after you apply for life insurance? An employee of the insurance company—called the underwriter—reviews it in a process called life insurance underwriting.
What is underwriting, why is it so important, and how does it affect your pricing?
We’re here to break down the basics of underwriting for life insurance. You’ll learn:
Why underwriting exists, and what are the most critical risk factors that affect it
What kind of tests you have to go through when you apply for life insurance coverage
Why your policy might be more expensive than what you were quoted (or why you were declined coverage)
So if you want to know what happens after you send your life insurance application, this guide is for you.
Let’s get started.
Five signs you are being “purely sold” insurance
Recently there was a post on Know Your Insurance about five signs you are being “purely sold” insurance. They were five quick warning signs that you’re talking to a insurance salesperson who doesn’t really care about you. While it was quick and to the point, we would like to expand on some of the points. Here are five warning signs that you are not working with an insurance salesperson with your best interest in mind, who instead is looking for a quick sale.
7 Common Life Insurance Riders You Should Consider
Life insurance riders are optional benefits that you can buy and add to your basic policy. They allow you to customize your policy to your liking.
But with so many riders to choose from, how do you know which one to get?
In this post, we uncover the most common life insurance riders and explain the pros and cons of them. By the end, you’ll know which ones are worth it and which ones you should avoid.
Do you need to insure your children?
Last week we looked at if insurance was necessary for the elderly, so we’ll follow it up this week with the same question applied to children. Children are the pride of our lives. They bring joy and smiles to their parents’ faces. But they’re obviously not the breadwinner of the family – that role belongs to the parents. Still, as we explained last week, that is not the only qualifier for whether or not to have insurance placed on a family member. Are there other reasons for you to insure your children?
Insurance for the elderly: What you need to know
When people talk about life insurance, they immediately think of the working class with a family that depends on them for their income. The loss of their lives would have a devastating effect on their families’ finances, and life insurance on their lives is common to prevent such a loss. While that may be the most common demographic that requires insurance, the elderly segment of the population should not be neglected. In this post, we will discuss the types of insurance seniors need.
15 Reasons Why You Should Avoid Mortgage Life Insurance
Mortgage life insurance is sold by your lender to pay off the mortgage in case you pass away.
But is it a good deal?
It is for the bank.
In this post, I will show you exactly why that is. I’ll also show you an alternative to mortgage life insurance that gives you better coverage. Oh, it can also save you 30%.
Let’s get started.
Should you buy individual life insurance if you already have group coverage?
If you are one of the millions of Canadians whose employer offers a group benefits plan with life insurance coverage, you may be thinking if individual life insurance is still needed to protect your family. In this post I’ll outline some of the basic differences between the two products so that you will have a clearer picture on whether or not you should buy individual life insurance.
Life Insurance: How much do you need?
Most people with a family dependent on their income know that life insurance is an important part of their overall financial plan, but few know how much coverage they actually need. Some life insurance agents swear by a formula, such as 8 times of salary, or a flat rate of half a million for everybody. But it’s most likely that these ‘methods’ of determining your life insurance needs are inaccurate. Instead, they are fabricated by the agent to simplify his life by not having to perform the calculations manually. So what is the right amount? Thanks to software provided by the life insurance companies, all it takes is a few minutes to determine the life insurance coverage that you need. They are typically all very similar, prompting you to input cash and income needs at death, and sources of cash at death. It then adds these amounts together to output your total coverage required.
