http://www.wall-c.com/ Thu, 16 Sep 2021 08:41:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 Study reveals retirement gap between men and women http://www.wall-c.com/study-reveals-retirement-gap-between-men-and-women/ Thu, 16 Sep 2021 08:05:08 +0000 http://www.wall-c.com/study-reveals-retirement-gap-between-men-and-women/

New data has revealed that nearly two-thirds of male workers (64%) are confident they will retire at the age they intend to, compared to one in two women (53%).

Insurance and financial services agency Canada Life surveyed 4,001 working adults in the UK who had received advice from a professional adviser and found that 45% of women did not think they had financial worries in retirement , compared to 58% of men. Men were also more likely than women to think they would stop working altogether when they retire at age 60.% and 55% respectively.

The research further highlighted that one in two men (52%) are likely to gradually retire by reducing their working hours over a number of years, while 40% of women said they would do more. same.

Fewer women (50%) than men (60%) think they will be able to financially support family members if needed after retirement, while 46% of women think they will be able to leave some amount of money to their relatives compared to 54% of men.

Sean Christian, managing director and executive director of the wealth management division of Canada Life, said the gender pension gap is currently estimated to be twice the gender pay gap. He explained that women are more likely to work part-time in low-paid work where they are not automatically enrolled in a pension because they do not meet the criteria.

“This inequality can only be corrected through decisive political action to close the retirement gap between men and women. Relatively simple changes to how auto-enrollment works today would benefit both men and women, but would go a long way to level the playing field.

“Changes such as removing the lower limit on contributions would allow more people to benefit from every pound they earn, while removing the £ 10,000 threshold would make automatic enrollment more inclusive and start leveling pensions for all “, did he declare.


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Global Indemnity LLC (GBLI) drops 0.19% on moderate volume on September 15 http://www.wall-c.com/global-indemnity-llc-gbli-drops-0-19-on-moderate-volume-on-september-15/ Thu, 16 Sep 2021 01:41:00 +0000 http://www.wall-c.com/global-indemnity-llc-gbli-drops-0-19-on-moderate-volume-on-september-15/

Global Indemnity Group LLC – Class A shares (NASDAQ: GBLI) fell 0.19%, or $ 0.05 per share, to close at $ 26.70 on Wednesday. After opening the day at $ 26.85, shares of Global Indemnity LLC have fluctuated between $ 26.98 and $ 26.70. 612 shares traded in hands, down from their 30-day average of 6,985. Wednesday’s activity brought the market cap of Global Indemnity LLC to $ 279,815,973.

Global Indemnity LLC is headquartered in Bala Cynwyd, Pennsylvania.

About Global Indemnity Group LLC – Class A

Global Indemnity Group, LLC, through its several direct and indirect wholly-owned subsidiary insurance companies, provides qualified and non-qualified insurance coverage, as well as individual insured coverage in the United States, as well as reinsurance worldwide.

Visit the Global Indemnity Group LLC – Class A Profile for more information.

About the Nasdaq Stock Market

The Nasdaq Stock Market is a global leader in trading data and services, as well as the listing of stocks and options. The Nasdaq is the world’s largest stock exchange for options volume and is home to the five largest US companies – Apple, Microsoft, Amazon, Alphabet and Facebook.

To get more information on Global Indemnity Group LLC – Class A and keep up with the latest company updates, you can visit the company profile page here: Global Indemnity Group LLC – Class A Profile. For more for financial market information, be sure to visit Equities News. Also, don’t forget to sign up for the Daily Fix to get the best stories delivered to your inbox 5 days a week.

Sources: The chart is provided by TradingView based on 15 minute lag prices. All other data is provided by IEX Cloud as of 8:05 p.m. ET on the day of publication.

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Carefully designate life insurance beneficiaries http://www.wall-c.com/carefully-designate-life-insurance-beneficiaries/ Wed, 15 Sep 2021 23:20:14 +0000 http://www.wall-c.com/carefully-designate-life-insurance-beneficiaries/

Life insurance can play a vital role in an estate plan because the insurance proceeds can be relied on to provide liquidity when needed. With proper planning, insurance money can pay for expenses like inheritance taxes and keep other assets intact.

Suppose, for example, that Bill Smith dies and leaves a large estate to his daughter Julia. A significant property tax is due. However, most of Bill’s assets are tied to real estate and an IRA. Julia might not want to rush into a forced sale of real estate. However, if she uses the legacy IRA to raise funds, she will have to pay income tax on the withdrawal and lose a valuable extended tax deferral opportunity.

Anticipating such an outcome, Bill could purchase insurance on his own life. The proceeds can be used to pay the inheritance tax bill. Then Julia can keep the real estate while taking only the minimum distributions required from the inherited IRA. If the insurance policy is owned by Julia or a trust, the proceeds likely will not be included in Bill’s estate and will not increase the estate tax liability.

However, some common life insurance mistakes can ruin your estate plan:

* Designation of your estate as beneficiary. This places the policy proceeds in your estate, where the money will be exposed to estate tax and your creditors. Plus, your executor will face more paperwork if your estate is the beneficiary. So you need to make sure you name the right people or charities.

* Name a single beneficiary. You should name at least two “secondary” beneficiaries, to reduce confusion in case the primary beneficiary dies before you do.

* Put your life insurance in the “file and forget” drawer. You should check your policies at least once every three years. If the beneficiary is an ex-spouse or a deceased person, you must make the appropriate change and get written confirmation from the insurance company.

* Carry inadequate insurance. If you have a young child, you will likely need hundreds of thousands of dollars to pay for all of their expenses, including college bills, in the event of an untimely death. Slightly over insurance can penalize your survivors and such savings are probably not needed today with term insurance costs so low.

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Insurers will offer a new title insurance policy: Irdai http://www.wall-c.com/insurers-will-offer-a-new-title-insurance-policy-irdai/ Mon, 13 Sep 2021 06:37:29 +0000 http://www.wall-c.com/insurers-will-offer-a-new-title-insurance-policy-irdai/

NEW DELHI: When transferring ownership, there may be gaps. That is why the Indian Insurance Regulatory and Development Authority (Irdai) has put in place a title insurance policy to overcome them.

Title insurance is a form of indemnity insurance that protects a potential homeowner against financial loss resulting from defect in title to real estate. The policy is a retrospective policy where the insured is protected against losses resulting from events that occurred before the date of issue of the policy.

Irdai had introduced title insurance products a few years ago to protect a potential owner of a property against financial loss caused for just cause. And now the regulator has introduced another beneficial clause for customers in the latest circular.

The Irdai circular stated: “Considering the legal protection requirements of promoters in the early stages of project development during financial appraisal, registration and approval with RERA authorities and safeguarding of interests of individual buyers after taking physical possession of the property, the regulator should expand current title insurance products suitable for developers / developers and buyers of commercial properties. “

According to the new notification, title insurance covers the “promoter’s legal costs policy (defense cost): this cover will compensate the insured for legal defense costs only against lawsuits contesting the title of the project”.

Naval Goel, Founder and CEO of PolicyX.com, said: “The developer’s legal fees (defense costs) policy means expenses incurred by the potential owner of the property in connection with legal proceedings such as filing of legal action, legal documentation and an appointed attorney’s fees filed against the developer, developer or any other beneficiary will now be handled by insurance. This is further designed to strengthen the position of the potential owner and support them in any way possible to gain possession of their property.

Adding to this, TA Ramalingam, Technical Director of Bajaj Allianz General Insurance, said: “Irdai recommended introducing a policy of promoter’s legal expenses (defense cost), which will compensate legal defense costs only against disputing lawsuits. the title of the project. Currently, existing products on the market offer title insurance for the duration of the project. Through this, clients can opt for the term of the policy as per their requirement. “

As mentioned above, currently title insurance provides indemnity coverage to developers, beneficiaries and homebuyers against losses due to defects / defects in title resulting from third party disputes.

Another important change is that now this coverage, i.e. title insurance, can be purchased individually by clients for the desired duration, which was previously available for the entire duration.

Ramalingam said: “Currently, this product is only available to promoters / developers in the Indian market; in this circular, the regulator suggested to introduce a retail policy for individual beneficiaries / buyers.” He said: “Individual buyers and financiers of property can choose it at the time of possession, and they can be indemnified against a default in title to the property.”

The regulator has asked general insurance companies (in addition to independent health insurers and specialist insurers) to launch new title insurance products for developers / developers, beneficiaries and buyers of commercial buildings.

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SCC offers reminders of National Life Insurance Awareness Month http://www.wall-c.com/scc-offers-reminders-of-national-life-insurance-awareness-month/ Sat, 11 Sep 2021 13:38:17 +0000 http://www.wall-c.com/scc-offers-reminders-of-national-life-insurance-awareness-month/

Virginie SCCMany Americans would face financial hardship if an employee died unexpectedly. Life Insurance Awareness Month, celebrated in September each year, is a reminder that life insurance can help protect your loved ones financially, now and in the future.

The State Corporation Commission Bureau of Insurance reminds Virginians that there are many factors to consider when determining if life insurance is right for you and your family.

“When considering your family’s financial future, take a look at your existing financial resources, debts and other liabilities, and your family’s needs and goals,” Virginia Insurance Commissioner Scott White said. “Understand the different types of life insurance and shop around to compare prices and coverage. “

White encourages Virginians who already have life insurance to regularly review their policies and update their policies and beneficiaries so that their coverage adapts to their changing circumstances. Life events such as birth, divorce, remarriage, or other changes affecting your finances (such as a new mortgage or a new job) may require an update to your life insurance policy.

If you don’t have life insurance, shop around and understand the different types of policies available and the costs.

“Think about your family situation if you were to die tomorrow,” White said. Review your existing resources and consider the following: Does your spouse work? Do you have other sources of income than wages? Do you have life insurance as part of your work?

Also consider financial obligations that may fall on family members if you die, such as a mortgage, business expenses, medical bills, car loans, or student loans. Also consider short- and long-term goals such as retiring your spouse, supporting a loved one, or raising your children.

White encourages Virginians to understand the types of life insurance available – term or permanent life – and how benefits are paid when you die. Term life insurance provides protection against death for a specified period. Benefits are only paid if the policyholder dies during the term of the policy. Term policies generally have lower premiums, but premiums can increase with age or at the end of a specific “term”. Term policies do not create cash value, but some permanent life insurance policies such as whole life, adjustable / universal life insurance, or variable life insurance create cash value at cash flow. over time. Permanent policies cover the insured for life as long as premiums are paid when due.

Life insurance can do more than protect your spouse and your dependents after you die. Some policies contain benefits that can be used during your lifetime. For example, a policyholder might be able to use the cash value accumulated in a permanent life insurance policy to pay for expenses related to education, retirement or emergencies.

What you pay for life insurance largely depends on the type of policy you choose, your health, age, gender, profession, family history, and lifestyle. The following factors may affect your ability to obtain life insurance coverage or the premium you have to pay: pre-existing conditions and chronic health problems such as diabetes, heart disease or cancer; bad health habits such as smoking or drinking; your driving record and if you engage in activities considered risky by the insurer, such as rock climbing, motorcycling, parachuting, horseback riding or skiing.

Compare premiums, coverage, and claims service when considering life insurance options. Contact the Richmond Bureau of Insurance at 804-371-9741 or toll free at 1-877-310-6560 with any questions or to ensure the company or person providing coverage is authorized and in good standing. The Bureau offers a free Virginia life insurance consumer guide with answers to many life insurance questions on its website at scc.virginia.gov/pages/Tips,-Guides-Publications.

The National Association of Insurance Commissioners offers a free life insurance policy locator service that can help consumers find lost life insurance policies and annuity contracts. From January 2017 to June 2021, the tracking service matched 4,616 policies for Virginians with a total face value of $ 117,052,464. Nationally, from November 2016 to June 2021, there were 147,140 policies with a total face value of $ 3,775,837,551.

To learn more about the location service, visit eapps.naic.org/life-policy-locator/#/welcome.


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Contributions from retirees of health and social services will not allow building the state pension | Personal Finances | Finance http://www.wall-c.com/contributions-from-retirees-of-health-and-social-services-will-not-allow-building-the-state-pension-personal-finances-finance/ Sat, 11 Sep 2021 06:05:59 +0000 http://www.wall-c.com/contributions-from-retirees-of-health-and-social-services-will-not-allow-building-the-state-pension-personal-finances-finance/

This will dismay those who reach state retirement age without having made enough contributions to the NA to qualify for the new maximum basic state pension. If they continue to work after retirement age from 2023, they will pay the 1.25% levy on their income, but this will not cover their shortfall.

Retirees who make NI contributions under 35 during their working life are not entitled to the State Basic Full Pension of £ 179.60 per week and will receive a reduced sum instead. Those who contribute less than 10 years receive nothing at all.

Many of those who turn 66 without touching the full amount will have to keep working to make ends meet. They might not want to pay the new 1.25% levy on their much-needed income because it won’t help close their state pension deficit, said Sandra Wrench, pension expert.

Sandra, 69, has worked for the Department of Work and Pensions for more than 40 years, including two decades retired from the state, and helps her friends and family to get a fair deal with the DWP .

Many of those who continue to work after 66 are forced to do so because they are not entitled to the basic full state pension.

Now they will pay the new national insurance levy, but unlike the standard National Inspector contributions, this will not help them build up an additional state pension, Sandra said. “NI contributions have always been associated with benefits and contributions to your state pension, but the new levy for active retirees breaks that link. “

Currently, once you have reached retirement age, you no longer have to contribute to national insurance.

This rule will continue to apply to state pension income and to any income from an occupational pension, personal pension or savings.

However, starting in April 2023, people over 66 who continue to work will have to pay the new NI tax for health care and social benefits on any income they earn from employment, to help solve the social care crisis.

It’s part of a program designed to raise £ 36bn over three years for the NHS and the healthcare system.

READ MORE: Retirees, beware! Starmer supports “wealth tax” to pay for social care

Employees below state retirement age will also pay the 1.25% levy, which will cost someone with an average salary of £ 30,000 per year an additional £ 255 in contributions to national insurance.

The highest earners with £ 50,000 will pay an additional £ 505, while those earning £ 75,000 will pay an additional £ 818 per year.

This is in addition to the NI they already pay, which is billed at a punitive rate of 12% on income between £ 9,568 and £ 50,270. However, this creates the right to state pension.

Sandra Wrench said the new levy will be separate from NI’s, so active retirees will only pay 1.25%. “However, it won’t count towards their state pension, even if they have a deficit.”

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Once you reach state retirement age, it is no longer possible to build up other state retirement benefits, Sandra said. “This is why people are no longer billed for NI dues from this age on.”

The tax on health care and social benefits is separate from national insurance, so it will not be used to increase the state pension. “It will be a blow to those who have not reached the new state full basic pension, because of the way it is calculated.”

She said the government had no incentive to change this. “He could then end up paying more in additional state pension than the NI contributions he collects from active retirees.”

Sandra added: “The only way to increase the amount of state pension owed to you after age 66 is to defer it.”


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Inzurly Expands Offering With Professional Compensation And Commercial Insurance Plans For Businesses Of All Sizes http://www.wall-c.com/inzurly-expands-offering-with-professional-compensation-and-commercial-insurance-plans-for-businesses-of-all-sizes/ Fri, 10 Sep 2021 16:30:00 +0000 http://www.wall-c.com/inzurly-expands-offering-with-professional-compensation-and-commercial-insurance-plans-for-businesses-of-all-sizes/

WATFORD, HERTFORDSHIRE, UK, September 10, 2021 /EINPresswire.com/ – There is no certainty in business and companies looking to step away from that reality a bit often look to the insurance industry for professional liability insurance and insurance solutions for businesses. Intended to smooth the unknown and uneven road ahead, these bespoke commercial policies from Inzurly meet all the needs of modern business without exceeding costs or providing unnecessary and unnecessary coverage.

This is often the case when companies are looking for one-size-fits-all solutions or trying to get personalized customer service from a large insurance conglomerate. Inzurly has taken this often complex process and reduced it to its simplest parts in order to make its business solutions accessible, affordable, and most importantly, immediately available to businesses that need them.

How does Inzurly work? It’s really not that different from getting personal insurance, except for the level of complexity and the numbers involved.

Like personal or medical insurance, business insurance policies are there when you need them and can be tailored to meet a range of immediate needs. The policies include liability, professional, employer, commercial property, business interruption, business emergency, legal fees, employer practices, and cyber insurance coverage. In essence, if you can imagine the business crisis, Inzurly is here to help businesses get through it.

The past year has particularly highlighted the need for businesses to purchase business interruption insurance, as these policies are intended to help businesses recover quickly from economic downturns. Yet other policies, such as cyber insurance and legal protection policies, are also signs of the times when it comes to the multi-layered aspects that businesses need to consider when purchasing insurance. For internet-connected businesses in particular, cybersecurity is a particularly tricky issue that could potentially cost businesses thousands of dollars if not addressed properly.

Like most insurance companies, Inzurly uses a range of competitive metrics to determine the scope of a policy and how much it will cost the business in question. Typically, the things that will affect the cost of a professional liability insurance policy and commercial insurance are characteristics such as the nature of the business itself, the rate of firm turnover, the total number of employees, where you do business, how much coverage is needed, and the age of the company requesting the insurance.

Niraz Buhari, Founder of C&C Insurance Group said: “Everyone at C&C, which is established in 4 countries, is very excited about the launch of Inzurly. One of the companies in the Smart Cover group has experienced strong growth during the pandemic and we believe that we should also be able to achieve similar growth in the area of ​​commercial insurance. We have already acquired companies in this sector this year and we are looking to increase our presence in the commercial insurance sector in the coming months. You can expect disruptive insurtech products to launch in the business insurance arena soon.

Inzurly prides itself on providing truly convenient customer service and to that end. Finding the policy your business needs is as easy as a few clicks on the web portal or calling our commercial insurance experts. If they need help finding the right policy for their current needs, businesses can count on the guided assistance of a dedicated Inzurly insurance expert whenever they need it. For new businesses, Inzurly offers a range of incentives to purchase new policies, including a discount.

Chetan Mankar
Inzurly
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Four things to know about China’s new national pension insurance company http://www.wall-c.com/four-things-to-know-about-chinas-new-national-pension-insurance-company/ Thu, 09 Sep 2021 00:32:33 +0000 http://www.wall-c.com/four-things-to-know-about-chinas-new-national-pension-insurance-company/

China’s new national pension company got regulatory approval on Wednesday, and a seasoned banker and senior forex official were appointed to manage the 11.15 billion yuan ($ 1.72 billion) retirement fund.

The state-owned pension institution was established to fill a huge funding gap as China’s rapidly aging population and shrinking workforce put increased pressure on the finances of the pension system. of State.

Here are four things to know about the creation of the National Pension Insurance Co. and the role it will play in China’s three-pillar pension system.

Why did China create the new pension company?

China operates a three-pillar pension system that relies heavily on the first pillar, a basic public pension program for urban and rural residents and employees. It is managed by the provincial governments. The state pension system held a reserve of 7.8 trillion yuan at the end of 2018, representing about 80% of total pension funds in China.

As in many countries, the public pension system is slowly but surely moving towards a funding crisis, a concern exacerbated by recent census data. The state pension fund will run out of cash by 2035 amid a shrinking workforce, according to a government-backed think tank.

The second pillar is made up of funds that employers pay into company and occupational pensions. Since companies and individuals already make large contributions to the government program, employers have little incentive to develop company annuity benefits.

Third pillar funds are private and personal insurance policies, which are still in their infancy. Recourse to the third pillar is extremely low, since it represents 1.25% of total pension assets. The enlargement of the third pillar is an important objective to alleviate the pressure on the public pension fund.

The new national pension company will be an important part of China’s third pillar project. It aims to convert large sums of short-term savings into long-term retirement products that are relatively safe and generate higher returns.

As part of the 14th Five-Year Plan, the government has undertaken to expand coverage of the state’s basic pension insurance system, encourage the growth of the occupational and private pension sectors, and delay the legal retirement age.

Who will finance the new pension company?

The company has a registered capital of 11.15 billion yuan and will be based in Beijing.

Seventeen the financial institutions will take stakes in the pension company. The wealth management units of China’s five big banks are each investing 1 billion yuan for an 8.97% stake, the China Insurance Association announced last month.

Eleven asset management units will hold 71.3% together. Two investment firms reporting to the Beijing State-Owned Assets Administration and Supervision Commission will participate, Beijing Infrastructure Investment Co. Ltd. taking an 8.97% stake and Beijing Xicheng Capital Holdings Co., a 4.48% stake. State-owned investment company China Reform Holdings Corp. Ltd. will hold 8.97%.

Zhongjin Pucheng Investment, a unit of China International Capital Corp., China’s largest brokerage firm Citic Securities Co. (600030.SH) and Taikang Life Insurance will also participate.

Who will run the business?

Ye Haisheng, director of the capital account management department of the State Foreign Exchange Administration (SAFE), has been proposed as chairman of the new pension company, according to the China Banking and Insurance Regulatory Commission (CBIRC ). He previously held positions in the Economic Restructuring Office of the State Council.

Huang Tao, currently vice president of Bank of Shanghai, will be appointed general manager. Huang, 50, is a seasoned banker who has held various management positions at China Construction Bank. He obtained an MBA from the University of Oxford.

What to watch out for next?

The market is carefully monitoring what type of products the company will offer and what their advantages are over existing retirement products. For example, do its investment products offer a higher return? Will there be a mandatory policy to force people to invest?

All companies offering commercial pension insurance products participate in the third pillar market. But only those approved by the CBIRC can benefit from certain preferential treatments such as deferred taxes. The market is also hoping that the new company will fill in the gaps in the market instead of competing with existing players. The preferential policies and tax arrangements that the new pension company will benefit from are also closely watched by the market.

The new pension company potentially faces competition from foreign insurers. Huang Hong, vice chairman of CBIRC, said the commission supports foreign investors in establishing pension insurance companies in China. Heng An Standard, a joint venture of Standard Life Aberdeen and Tianjin TEDA International, received the CBIRC approval to create a pension insurance company, but there is no word of approval from the Ministry of Human Resources and Social Security, which is responsible for regulating the investment scope of annuity funds.

Contact journalist Denise Jia (huijuanjia@caixin.com) and editor Bob Simison (bobsimison@caixin.com)

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Common Mistakes You Should Avoid When Buying Life Insurance: South Florida Caribbean News http://www.wall-c.com/common-mistakes-you-should-avoid-when-buying-life-insurance-south-florida-caribbean-news/ Wed, 08 Sep 2021 21:38:10 +0000 http://www.wall-c.com/common-mistakes-you-should-avoid-when-buying-life-insurance-south-florida-caribbean-news/

For many families, the consequences of the death of a single breadwinner can be devastating. Life insurance is a useful tool that provides financial security for loved ones of an insured in the event of a tragedy. Whether it’s paying off the mortgage or paying for a children’s college education, a life insurance plan can ensure that they remain financially stable and maintain their current standard of living. And when it comes to protecting the financial interests of your loved ones, there is little room for blunders.

It is essential to make an informed decision avoiding any costly mistakes, big or small. So how can you make a foolproof purchase and avoid some common pitfalls to getting the coverage your dependents might need while you were away? We will take a look.

Not buying at the right time

It is common for young people to delay purchasing life insurance or not considering it due to competing financial priorities or a lack of awareness of having life insurance as part of a strong financial plan. Your age and general health are two of the most important factors that determine the cost of premiums.

While it’s never too late to purchase a life insurance policy, buying it at a young age will work in your favor if you want to purchase a policy at the lowest possible rates. Premiums continue to rise as you get older and your health deteriorates. A serious medical condition can also make you ineligible for coverage.

Choosing the wrong type of font

Before you take the plunge, it’s in your best interest to learn and research the two most common types of insurance policies, and determine which one best meets your financial goals. And The annuity expert can help you gain a comprehensive understanding of term life insurance and whole life insurance and their characteristics. Remember, choosing the wrong one can leave your family vulnerable to financial hardship during tough times.

Simply put, a term life insurance policy covers the policyholder for a set period, typically 10 to 40 years, after which it expires. They are cheaper because the probability of their payment is low. In contrast, a whole life insurance policy offers lifetime coverage and can be used as an investment tool because it creates cash value over time.

Your specific situation and the financial goals you want to achieve with the policy will dictate the type of insurance policy you should choose.

Obtain insufficient coverage

Accurately estimating how much of a death benefit you need is essential to ensure that your dependents can meet their financial needs when there is no stable income stream. Plan your expenses and don’t pick a number out of the blue to avoid being underinsured. Consider a variety of factors to calculate the amount of life insurance you would need to cover all of your current and future needs. These include loss of income, mortgage, and long term goals like children’s school fees, marriage, etc.

This needs-based approach is even more essential if you are the sole breadwinner and your spouse is a stay-at-home parent. You will need sufficient coverage to support their long-term financial needs.

Focus only on the price

Of course, the cost of life insurance, or premium, is an important aspect to consider when shopping for a policy. Often, this is enough to scare many people or cause them to reduce their coverage amount in order to secure a lower premium. But life insurance is one of the last things you want to be frugal on. After all, it’s your family’s financial security and standard of living that are at stake.

Buying a term policy can be cheaper than permanent insurance. But that’s only for a set period of time and it could backfire by not giving your family the coverage when they need it most. As a result, it can lead your beneficiaries to endure financial hardship and not live comfortably for years after your death.

Non-disclosure of information

Withholding certain information or not accurately telling the truth about your health, family medical history, risky lifestyle choices, or profession can lower your insurance costs. But it can put your family’s financial security at risk.

If you provide misleading information, the insurance company may deny coverage for your family if your death is related to a health condition that you have chosen not to disclose. This can put them in a serious financial crisis, which makes it crucial to keep your loved one’s best interests in mind at all times and to be completely honest with your request.

Believe that you are ineligible because of a health problem

A pre-existing medical condition may mean you have fewer coverage options and higher premiums, but that doesn’t stop you from purchasing life insurance. Life insurance companies have different policies as to how they perceive particular health problems and the rates they award to such people.

An insurance agent who knows the underwriting guidelines various companies can help you find the best deal for an insurance policy based on your condition.

Rely only on group life insurance

Even if you take advantage of free coverage offered by your employer as part of the benefits package, it is a viable idea to purchase an individual life insurance policy to enhance your coverage.

Group life insurance may not provide sufficient life insurance protection for your beneficiaries and cover all of their needs in the event of the unexpected. In addition, group coverage is not transferable, which means that it ends when you leave the company.

Do not compare insurance rates

Don’t limit your search to one company when looking to buy a life insurance policy. Prices vary widely, which is why you should shop around to make sure you are getting the best rate. Entering into a policy without getting quotes from a few different companies can end up costing you money unnecessarily. An independent insurance agent may be able to get you the best rates by comparing a variety of life insurance products from several different companies.

Buy life insurance

Life insurance is an essential part of a comprehensive long-term financial plan. It serves as a crucial safety net to protect your loved ones from financial hardship while you are away. By knowing the fine details of each policy and a few common mistakes to avoid, you can get adequate protection when needed by committing to a policy that meets your unique circumstances and secures your family’s financial future.


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Erie Indemnity: 5 tips for getting on the bus safely http://www.wall-c.com/erie-indemnity-5-tips-for-getting-on-the-bus-safely/ Wed, 08 Sep 2021 15:08:30 +0000 http://www.wall-c.com/erie-indemnity-5-tips-for-getting-on-the-bus-safely/

When the big yellow bus turns around the corner and approaches the local bus stop, it can be an exciting time for kids and parents alike.

Every year, school buses transport 25 million children to and from school across the country, according to the American School Bus Council. School buses also have an impressive safety record: Accidents involving school busesaccount for less than one percent of all fatal crashes in the United States, according to the National Highway Traffic Safety Administration (NHTSA).

In fact, NHTSA says the biggest risk to student safety is not getting on the bus, but getting on and off the bus.

As the school year progresses, this is a good time to quickly go over bus safety tips with your children.

Safety instructions for boarding the bus

  • Be aware of cars.Morning is a busy time of day in the neighborhood, with heavy traffic heading to work or school. Teach children to stay on the sidewalk and never cross an intersection until the car is stopped, no other car is approaching, and they make eye contact with the driver.
  • Keep your distance.While waiting for the bus, children should stay at least three giant steps back from the sidewalk. Due to the proximity of the bus stop to the street, discourage children from heckling and running too close to the street.
  • Arrive early.When young children are late, they can quickly forget about safety rules and run around the streets without looking for cars. Children should be used to being at the stop five minutes before the bus is due to arrive. In fact, during the first week of school, it doesn’t hurt to give them a bigger time cushion as schedules may vary until the driver has completed the route.
  • Embark in complete safety.Everyone likes to take their favorite place. But it is more important to board the bus safely. The safest way to do this is to stay on the sidewalk and stay away from the bus until it comes to a complete stop and the door opens.
  • Find a place quickly.It is important to get up quickly and stay seated. This practice ensures that everyone has time to locate themselves and that no one is standing when the bus begins to move.

There is no better start to the school year than a safe year.

At Erie Insurance, we value the safety of your family and always think about ways to protect yourself, your loved ones and the things that matter to you. Talk to a local agent near youfor a free quote or schedule a review of your policy to make sure your auto insurance coverage is up to date.

Disclaimer

Erie Indemnity Company published this content on September 07, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 08 September 2021 03:01:08 PM UTC.


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