Insurance doesn’t always work for young people, especially children. Some say, “The premiums are low, so why not insure?”
Neil Armstrong is on many people’s minds after his recent passing. His walk on the moon was a dangerous mission indeed. At the time, he wanted to make sure his family was taken care of in case he didn’t return. Unsurprisingly, a life-insurance policy for someone about to get on a rocket cost a fortune, […]
Olympia Financial Group has filed a patent application in Canada and the U.S. for an owner-directed universal life insurance product. The new product comprises a universal life insurance policy, which lets the owner of the insurance manage the assets in their account. The policyholder’s account will also have safeguards against lapses for non-payment of premiums, […]
Participating in risky activities outside of the workplace can be costly, with the non-medical underwriting procedure requires the insured to disclose any potentially dangerous hobbies or sports.
How accounting standards affect insurers
When completing insurance applications for clients, it’s often necessary to address touchy subjects—sometimes hitting on potentially embarrassing issues such as clients’ spending habits, their medical histories and even the quality of their marriages. But it’s a process that’s critical if we are to help people effectively plan for their financial futures.
In matters of life, death and life insurance, you don't bend the rules.
Since the last quarter of 2010, most insurers have increased their prices; with some hinting at a third round of rate hikes. And the product itself may actually be heading for extinction, since some providers are removing their permanent products and focusing on adjustable insurance rates or term insurance.
Few insurance advisors pay attention to the settlement options in their clients’ policies. But you should. Policyholders can actually choose if beneficiaries are paid a settlement with an annuity or in a lump sum.
Whether clients are approaching retirement and are cognizant of the realities of aging, or are young professionals just beginning to save for the future, life insurance is a crucial part of a comprehensive plan.