Asia Insurance Blog :: Health & Life Insurance » Life Insurance

Do I need life insurance?

Admin — Tue, 26 Jul 2011 09:18:55 +0000

Single people often think they don’t need life insurance, and in many cases, they are right. However, there are many factors that determine your need for life insurance; marital status is just one.First of all, do you have any dependents? If you have children, or if you provide support for a parent or grandparent, your death could create a serious financial hardship for these dependents. Life insurance can provide a continued stream of income for your loved ones if you die prematurely. It can also provide peace of mind for you, knowing that they will be taken care of when you’re gone.Do you have a mortgage or other loans that are jointly held with a cosigner? If so, your death would leave the cosigner responsible for the entire debt. You might want to consider purchasing at least enough life insurance to cover these debts in the event of your death. If you have debts for which you alone are responsible, your creditors can make a claim for payment against any assets in your estate.Are you at risk for any serious medical conditions? If, for example, your family medical history includes certain genetic conditions (diabetes, certain types of cancer, etc.) it may make sense to purchase life insurance while you are young and healthy. Purchasing life insurance after you develop such a condition could be difficult, or even impossible. If you choose to buy insurance for this reason, consider adding a guaranteed insurability rider to your policy. This rider guarantees you the right to purchase additional insurance at specified times, without having to provide proof of insurability.If you died tomorrow, would you leave enough to cover your funeral expenses? If not, who would be responsible for paying? For many families, even a relatively simple funeral can create a major financial burden. For this reason alone, you might consider purchasing a small life insurance policy, or even a simple burial policy. As an alternative, you could invest the premiums you would spend on such a policy, and make sure your family knows this investment is earmarked for your final expenses, should the need arise.Even if you determine that you don’t need life insurance, make sure your other insurance needs are covered. You may not realize it, but disability insurance is just as important as life insurance. Statistically speaking, you are much more likely to become disabled than to die prematurely. Disability insurance can replace lost income if you are unable to work due to serious illness or injury.

Life Insurance Company

Admin — Mon, 10 Jan 2011 04:15:29 +0000

You have many choices when you are trying to find a good life insurance company, so it can sometimes be difficult to find the one that is best for you. By seeking the advice of an experienced financial advisor you can save yourself hours of research and a lot of effort. At AdvisorWorld.com we offer a free service where we can use the power of the Internet to match customers just like you with qualified members of the finance and accounting professions. In addition, we offer a vast assortment of articles on various investments to help broaden your understanding of your options.

.Reference resource: Click Here

6 Things You Should Know About Term Life Insurance

Admin — Sat, 08 Jan 2011 04:21:17 +0000

Term life insurance is a type of life insurance for a specific period of time and is the cheapest type of life insurance you can buy.
Here is a list of 6 things you should know about term life insurance:
It is not permanent.
Unlike permanent life insurance, term insurance has an expiry date. It is purchased for a specific period of time. The most commonly available terms are 1, 5, 10, 15, 20, 25, and 30 year terms.

.Reference resource: Click Here.

A Look at Life Insurance

Admin — Mon, 02 Feb 2009 09:22:57 +0000

In today’s world, families are buying more life insurance that ever before. The demand for insurance has really made the cost for insurance to skyrocket. Since life insurance is needed by almost every family, the demand for life insurance will continue to increase. Obviously, to some individuals, live insurance is a priority over other insurance like auto insurance, property insurance, etc. But what surprises me most is that the average insurance holder is not aware of how the insurance policy works. Probably, because insurance policies uses terms that are not familiar to the average person who needs insurance. This not withstanding, millions of people keep on buying insurance. Many are aware of the importance of life insurance. We all need life insurance because of the uncertainty of life. We can not really predict what will happen in the next moment.

The basic truth about life insurance is that it can not insure a person against death but it can protect dependents of a death person against some economic losses resulting from the death of a bread winner in a family. Life insurance will ensure that the dependents of a dead person don’t suffer much loss. The term life insurance doesn’t warrant that the insurance will cover one for a life time. Life insurance is similar to car insurance. The usual term policy can be five or ten years or more depending on the choice of an individual. If the insured person dies after the term is up, his family gets nothing

In Need of Life Insurance Advice?

Admin — Thu, 25 Dec 2008 07:23:03 +0000

You’ve finally made the decision to purchase a life insurance policy. Good for you! And good for your family, too. There isn’t just one kind of life insurance policy available. Purchasing a life insurance policy can be much different from purchasing, say, an auto insurance policy in which case you can decide on purchasing simple liability coverage, or full coverage, and a high enough amount of auto insurance to cover damages resulting from everything from car accidents to theft.

With life insurance policies, while there are also two main kinds – term life insurance policies and whole life insurance policies – the two are very different in what kind of coverage and extra benefits they offer. Term life insurance policies cover you for a certain period of time, while whole life insurance policies cover you for the duration of your life – and that’s just the tip of the iceberg when it comes to the differences between term life insurance policies and whole life insurance policies.

The bottom line is, once you’re ready to choose the kind of life insurance policy you want to purchase, you’re probably going to need some advice.

There are a few ways to get good advice when it comes to purchasing a life insurance policy. First, do some research on both term and life insurance. Find out exactly what each kind of policy offers and make notes.

Next, talk to friends and family members about which kinds of life insurance policies they’ve purchased. They’ll tell you what works for them and why, and this will help you determine what might work for you.

Finally, talk with insurance agents who specialize in selling both types of policies. Agents are trained professionals who can offer advice based on the coverage you need.

The Development and Results of Critical Illness Insurance in East Asia

Admin — Fri, 19 Dec 2008 08:11:48 +0000

Since Critical cover appeared in East Asia during the year 1988, it may have been a success for the market. Besides, countries such as Malaysia, Hong Kong, Singapore and Taiwan all form part of the East Asian insurance industry. Companies in nearly all these countries may have been marketing critical illness cover successfully. Let’s have a look at the development of critical illness cover in East Asia.
According to Pakshong CS and Nieder D, Nov1997, probably all insurance companies may have already launched their first critical illness policy during the mid 1990’s. Critical illness cover may not have been offered only by life insurers but by health insurers also. Health insurers offered critical illness cover with the aim to provide additional benefits on top of their original policies. Moreover, around 40 percent of work carried out in connection with critical illness insurance from 1994-1995 may have stemmed out from policies in force for a year. As a result, critical illness cover started to become successful. In the year 1996, more than one million critical illness policies could already be counted in East Asia.

Critical illness claims rates may have also been recorded for both men and women. Let’s have a glance. Around 42 critical illness claims were made by men aged 20-24 followed by 82 aged 25-29, 95 aged 30-34, 146 aged 35-39 and 215 aged 40-44. Further analysis carried out showed around 160 critical illness claims had been made by men aged 45-49, 99 aged 50-54, 44 aged 50-59 and finally 8 aged 60-64. As for women, the critical illness claim rates varied as compared to that of men. About 48 claims had been made by women age 20-24 followed by 82 aged 25-29, 162 aged 30-34, 219 aged 35-39 and 214 aged 40-44. additional research showed that around 274 critical illness claims had been made by women aged 40-44, 220 aged 45-49, 100 aged 50-54, 55 aged 55-59 and finally 12 aged 60-64.

If the results are analysed carefully it could be noted that critical illness claims among women may be much higher in contrast to that of men. For example, 73 more critical illness claims for women could be noted if the age group 35-39 is compared for both men and women. Furthermore, The Life Insurance Association of the Republic of China conducted the “Dread Disease Experience Study 1996”. This research aimed most at studying the Taiwanese experience of critical illness cover. Results may have been positive. Around 2.4 million critical illness policies may have been sold in a year with more than 2,108 critical illness claims successfully paid. The total sum insured may have been around TWD 1.24 billion. The East Asian insurance market had been more prolific than markets like Canada and USA. Though introduced during 1995, the progress of critical illness insurance in the East Asian market had been remarkable. The 4 countries that constitute the East Asian market may have also led to the success of critical illness cover collectively.

Child Life Insurance Is Very Important

Admin — Sat, 04 Oct 2008 08:38:36 +0000

Usually we buy life insurance to be sure that the future of our dependants is secured upon our death. Basically, this is the solid reason why we buy life insurance. Then, this would really confuse you why an insurance agent would try to convince you to buy child life insurance. I mean your child has no dependants. You would appropriately wonder why they would need child life insurance. This article will help you broaden your thinking when it comes to the issue of child life insurance and appropriately make wise decisions.

Information about child life insurance will make you conclude that really life insurance is not about death alone. You will realize that like child life insurance, other life insurances are about future and preparation as well. Basically, insurance ensures that you plan for your future when you still have the capacity to do so. If you take your time to listen to an insurance agent, you will realize that child life insurance is what you also need for your child.

Travel Insurance: Road Safety and Travel Insurance

Admin — Fri, 23 May 2008 07:03:55 +0000

Poor street lighting, unfamiliar traffic regulations (most obviously cars driving on the other side of the road or different rules governing the traverse of a pedestrian crossing) besides downright woeful driving on the part of locals account for many accidents. Doing away with the distinction between that part of the roadway meant for walkers and that part intended for vehicles can only increase the numbers making claims on their travel insurance.

To cut down the risk of this happening, the traveller should firstly avoid drinking before getting behind the wheel. In South-East Asia this is widely tolerated but is as foolish here as anywhere else. Mopeds or motorbikes should only be driven by those qualified to drive them (often this is not the case) and helmets should be worn. In the event of an accident where these conditions have not been met, there may be complications involved in claiming from the travel insurance provider. The market for cheap travel insurance is intensely competitive and should be researched properly before the trip in order to identify the most suitable package.

How To Choose A Term Life Insurance Company

Admin — Mon, 10 Mar 2008 06:47:43 +0000

In general, choosing term life insurancecoverage for any purpose can be frightening and a little overwhelming. It would be tragic to have to receive a check from your term life insurance company because a loved one has passed away. Because of events like this, a lot of people tend to put off the act of choosing the term life insurance company that will offer them the security they need. This may also occur because people are unsure of how to choose a company, which can make matters even worse, or at least more trying.

In reality, choosing a term life insurance company is actually really simple and painless if you know what to do. There are really only a couple of things that you need to know when it comes to looking at and comparing term life insurance rates. Keep these things in mind when you finally put your search into motion, because finding the right company to protect your family and your assets is absolutely necessary.

How to Get a Proper Life Insurance Quote

Admin — Tue, 04 Sep 2007 04:22:03 +0000

It is, however, of vital importance that we take a little time to get an in depth understanding of what life insurance was designed for and what it can really do for you and your family or business before you look at any life insurance quotes at all.

Let us take a few minutes to examine why you may need to scrutinize life insurance quotes and may be buy some life insurance. Looking at a few good life insurance quotes will help you decide how much you can afford to earmark for life insurance.

When you go out to get your life insurance quote, make sure that you have taken some time to be prepared. Know which type of insurance, weather it be whole life or term life, that you are looking for. Also know the amount that you want to insure for. Doing this will help make sure that you get the best life insurance quote available.

Agents Can Help – What is Your Financial Situation?

If you happen to get a good life insurance agent, they can be the better person to assess your situation. They will need to know what your financial situation is and then will be able to advise you of the best options. If you know what type of insurance you want will help in getting a life insurance rate quote. Just as in anything, you will want to shop around for the best life insurance quote that you can find.

You must realize a few things before you start your search for a life insurance quote: You are going to be asked questions online or the agent is going to ask you some questions prior to give you a life insurance rate quote:

1. Inquire about your income
2. What is your net worth?
3. What are your financial goal?
4. Sending the children to college?
5. How is your health?
6. What is your age?
7. Medical conditions
8. Family medical history
9. Smoker
10. You may be required to take a medical exam

These are just some of the questions that you may be asked prior to getting the best life insurance quote.

As mentioned earlier, you need to familiarize yourself with the different types of life insurance coverage, and that is whole life and term life insurance. Learn a little about what an annuity is and how it can work into your financial situation. This will help you get an accurate life insurance quote.

A few good life insurance quotes and subsequent purchase of sufficient life insurance would go a long way towards alleviating some of these problems. Get life insurance quotes and see how that would work for you. New insurance quotes are often needed to reflect your changing circumstances.

And when these changes do occur (eg house move, marriage etc) you need to shop around for the best insurance quotes. Don’t hesitate to seek premium quotes from several different companies.

Some of the factors that will quantify the coverage you will require can be the:

Number of dependents
Monthly expenses
Monthly debts
Projected family expenses

There are also various factors that will help you get the best life insurance quote, like your employer life insurance coverage. Do you have any credit card life insurance and more.

A key factor in comparing whole and term life insurance quotes is the company backing the policy. Getting term life insurance quotes online has become common practice with people in search of life insurance protection for their families and in many cases for their business.

The Web has also driven rates down, with dozens of sites delivering real-time quotes in a matter of clicks. Term life insurance may be one of the best deals in town, but it pays to shop around when looking for a term insurance quote.