The insurance industry is a powerful kingpin, with a total of $1.22 trillion net premiums in 2018, per an Insurance Information Institute (III) post of S&P’s Global Market Intelligence report. The Insurtech business model is an initiative for using smart technology in the insurance industry to streamline sales and customer experience. Insurance is one of the oldest industries and are not always adept to change. The dawn of Insurtech in 2010, a subset of Fintech…Read More
But by its design an annuity works a little differently. An annuity offers guaranteed income for life, if you choose it to work that way. And you invest money into it same as you would any other money market account, like a 401k.
This is particularly likely for women, according to a recent report by New York Life Insurance Company, who traditionally endure a significantly longer retirement than men despite weathering the same economic conditions beforehand. The company said that women accounted for 64 percent of customers with fixed immediate annuities in 2009.
Recently, the CDC announced that accident was now the #1 leading cause of death for Americans age 1-44.Read More
The members of Generation Y – also called Millennials – who were born from 1980-2000 offer a different perspective than most generations. But one key difference with Gen Y according to LIMRA, is that their parents are key buyers of term life insurance so as to cover college expenses.Read More
Choosing the right type of life insurance can be confusing, but it’s also an important decision. Here are some guidelines that can help you narrow down your best life insurance options. Consider term life insurance if… You need life insurance for a specific period of time. Term life insurance enables you to match the length of the term policy to the length of the need. For example, if you have young children and want to…Read More
Buying the wrong benefits for a low premium does not add up to savings There are ways to save money when buying life insurance, but they don’t always entail paying a lower premium immediately. As your top priority, look for a policy that meets your needs. Buying the wrong benefits for a low premium is a waste, not a saving. Beyond that, here are some ways to maximize your life insurance dollars. Before you buy…Read More
You can buy life insurance either as an “individual” or as part of a “group” plan. Individual Policy When you buy an individual policy, you choose the company, the plan, and the benefits and features that are right for you and your family. You might be able to buy the policy from the same agent or company representative who sells you property and liability insurance for your home, auto or business. And although you won’t…Read More
How to find coverage that meets your needs and budget Life insurance can form a vital part of your family’s financial stability and well-being but, if you’re like most people, you may find the thought of shopping for the right type of coverage a little daunting. Fortunately, these eight simple steps can guide you along the way. 1. Determine whether you actually need life insurance Most people do, but not everyone. If no one depends…Read More
Technically, if something happened, the insurance company has to pay the death benefit during that 30 day period.Read More
Seventy five percent indicate the service by their agent is vary good and excellent. Unfortunately, the public still has a negative image of the industry. The following offers tips of a good agent.Read More