Showing posts with label Insurance. Show all posts
Showing posts with label Insurance. Show all posts

How to Buy The Best Term Life Insurance Policy For Senior Citizens

How to Buy The Best Term Life Insurance Policy For Senior Citizens

Life Insurance


Talking about Term Life Insurance, it is a pure protection plan that is specifically designed to secure a family financially in case of the insured person's sudden death. However, there is a misconception that the Term Life Insurance is ideal for young people only as it has a longer-term. But interestingly, this is becoming prevalent for the senior citizens as well, and they can buy it for the duration of 25 to 30 years. Nowadays, several insurance providers are offering senior citizens term plans, but you need to carefully look into the features and benefits of buying the best term life insurance policy.

Why Is Term Life Insurance important for senior citizens?

There are plenty of reasons which suggest that term life insurance is essential for senior citizens. So, let's have a look at those reasons:

  • Repaying policyholder's debts and liabilities might become a burden for the beneficiary in the absence of the policyholder. Hence, in such a case, the sum assured of the best term life insurance policy can assist the policy nominee in paying off the remaining debts and liabilities of the insured person.
  • The Term Life Insurance coverage will also take care of the nominee's financial needs.
  • The sum assured of a term policy is usually enough for the insured's family members to sustain their regular lifestyle comfortably.
  • Nowadays, working-age for many people has gone beyond 60 years. And in the absence of the earning member, his or her family should keep getting the monthly income. The term insurance cover amount helps with that.
  • In case the insured wants to leave behind a legacy, then Term Life Insurance is the ideal option so that the family members can always remember the person in his or her absence. As under a term policy, the beneficiary receives a lump-sum amount in case of the demise of the insured person within the policy term.

Features of the best term life insurance policy for senior citizens

  • The maximum age limit for purchasing Term Life Insurance for senior citizens might vary depending on the insurer. Generally, in most cases, the age limit is 60 years.
  • Traditional Term Life Insurance policies only offer death benefits in case the insured dies within the policy term. However, if you want to get maturity benefit, then you can buy 'Return of Premium Term Plan'. Under this policy, if you survive the policy term, then you get all the premiums back.
  • The policy premiums depend on the policyholder's age. So, in the case of senior citizens, the premiums will be higher as compared to an insured person who is young.
  • Riders are one of the crucial features of the best term life insurance policy as the riders enhance the spread of the existing coverage while maximizing the benefits.
  • Term Life Insurance providers usually ask for medical tests before approving the insurance. But certain insurers do not require medical tests; they just need your medical history.

Buy Term Life Insurance policy online:

One more very important aspect everyone should think about while buying the best Term Life Insurance policy is, whether you should buy a plan online or offline. Both of these options have their own advantages and disadvantages. When we talk about Online medium, it not only makes buying a policy easier it also helps you compare various policies in one go through web portals, get quotes and buy anyone of your choice from anywhere at any time. There are no agents, other parties involved and the policies are also reasonably priced as compare to the offline channels. Renewing policy online is also one more important feature, you can also pay premiums online and get a receipt instantly.

Therefore a Term Life Insurance policy is equally important for senior citizens as it is for any young individual. You can opt online medium to research and buy term insurance for senior citizens as it is easy and convenient to understand.

You can start by comparing various term policies and check which is the for you. To do this, and even get a free quote for the senior citizen's term plan. After choosing the policy, you can buy it online with just one click.

How to Find the Best Insurance Advisor in Auckland, New Zealand

How to Find the Best Insurance Advisor in Auckland, New Zealand

Insurance Advisor


Among the decisions to make when you wish to invest in life, insurance is what company to select. With countless life insurance advisor competing for your business, you can be tempted to select an Insurance Advisor in Auckland based on the price alone. However, numerous other aspects are just as vital as price. It is often even a lot more vital when you're investing in a long-term product like life and medical cover protection.

The perfect life assurance company can even change depending on what kind of life insurance advisor you're looking for. Here are some of the prominent tips that you should consider when buying life cover protection:

Don't Pick a Company As Per Initial Price Quotes: Undoubtedly, price is an extremely vital factor when purchasing life insurance. But if you settle with a company because of an initial price quote, you may give yourself a bad surprise. You need to know that after the policy has been fully underwritten, which means all your personal and health details have been assessed, you could attain a final and higher price quote from a Life Insurance Advisor Auckland.

Consider Financially Stable Companies: When purchasing life insurance, you enter into a contract (the policy) for a long period. As a payout on your policy can be decades away, particularly with permanent life insurances, you should find a company that handles the ups and downs of the economy and financial markets.

Health Conditions Determine the Right Options: Life insurance advisor prices for the same applicant can differ primarily among companies. Some companies have found they can offer much better rates to people with specific medical conditions and still be profitable. For instance, a few insurers offer better rates to individuals who smoke or to those who have cardiac conditions.

Keep in mind that a mix of health conditions can change the equation for which medical insurance advisor is best suited for you. Life insurance advisor prices for any certain condition are not written in stone. Underwriters often have a few spaces to wiggle. That's where a skilled agent can know which companies are most likely to offer desirable options for you.

Benefits of Hiring an Insurance advisor

Save Money: Let's assume you make a good decision and go with the Best Life Insurance advisor you find, you have a lot better chance of saving money. These experts use all their skills, experience, and knowledge as leverage to bring good rates for you. They also help in looking for policies annually for you.

Insurance Made Easy: Avoid making policies more complicated than it already is. To be on top of your insurance policies, there are numerous insurance terms, legal clauses, and coverage restrictions you should know about. Think of your business insurance Advisers NZ like a lawyer. They manage all of these complex, unsatisfying factors of insurance on your behalf, whole offering insight, and advice when needed.

In conclusion, if you are a first-timer and have no clue about life, medical, health or business insurance, or any other policies for that matter, it's essential to understand and be aware of all the features and advantages before purchasing one. Look for a trusted Home Loan Advisory firm and find the best rates for you.

Eureka Financial Services is the award-winning insurance adviser in Auckland, New Zealand. Our experts Sam Khatri and Shilpa Dagar will provide all guidance and support for selecting appropriate advisers whether it is mortgage protection, TPD, Kiwisaver, Life Insurance, Mortgage refinancing, business insurance, etc. Some of these useful tips will genuinely help you figure out and choose the best financial insurance advisory firm in Auckland, New Zealand. Because it's about your money, investment and your family's future!

Before making an insurance advisor done, every individual needs to first check which company is better. He/she must take advice from an where to invest and what are the procedures. In this article, I have shared some important points you must watch on to select the best insurance advisor firm in Auckland, NZ for any kind of insurance like finance, mortgage refinancing, mortgage protection, TPD, Kiwisaver. business, health, and medical insurance.

New stimulus law could save you thousands of COBRA, health insurance, FSA for months

Health insurance plans on The new bill can save you money.

New stimulus law could save you thousands of COBRA, health insurance, FSA for months. With the new stimulus bill, you may be able to save money on health insurance plans this year.

The $1.9 trillion stimulus law from March authorized a lot of checks to go directly to hundreds of millions of Americans: Those $1,400 stimulus checks and plus-up payments arriving now, $300 extra per week in unemployment insurance and the upcoming monthly child tax credit payments for up to $3,600 total per kid. But did you also know that the bill provides five ways you can save money on health care costs? 

In 2021, the average cost of health insurance in the US is nearly $500 per person per month, according to Value Penguin, and associated costs can add up incrementally or all at once, including expensive premiums and taxes when you buy medication and other personal health items. The stimulus law provides new options for people who need health insurance and resources to help lower costs for those who are already insured.

Read on for details on how to save you money this year. Plus, take two minutes to see if your state owes you money. Here's what we know about a potential fourth stimulus check, nine weird stimulus check facts and where the situation currently stands with student loan debt forgiveness. This story was recently updated.

Free COBRA insurance premiums through September

Typically, if you lose your job, you can buy insurance coverage through your former employer under the government COBRA (Consolidated Omnibus Budget Reconciliation Act) program. However, you typically have to pay the full price for that insurance, which can be very costly. Under the March law, the government will pay the entire COBRA premium from April 1 through Sept. 30 for laid-off employees and family members. (However, you're not eligible if you have Medicare, if you left your job voluntarily, or if you qualify for new, employer-based health insurance somewhere else before that date.) 

The stimulus law requires employers to send former workers who qualify for COBRA a notice of eligibility. But if you haven't gotten that, you can call your former employer to make sure you are signed up for coverage. 

To get the new benefits, you need to sign up for plans at HealthCare.gov, or, for some states, their own insurance marketplace websites. The changes will be retroactive to Jan. 1, 2021. So if you're already on a medical plan through the Affordable Care Act, you'll get money back as a refund when you file your 2021 tax return next year.

The American Rescue Plan Act funds these new subsidies for two years. 

You might be eligible for free COBRA insurance coverage for the next six months.

Deduct more medical expenses on your taxes

Some medical expenses are tax-deductible -- and Congress passed a more generous allowance for what you can deduct as part of the December stimulus law

Instead of capping expenses that exceed 10% of your adjusted gross income, as was originally planned, you can now deduct medical expenses that exceed 7.5% of your AGI. You can find the full list of medical expenses you can deduct on the IRS's website, including doctor's fees and inpatient hospital care.

. That means you can contribute more money to your account without getting taxed on it.

Use open insurance enrollment through August this year

While you usually need to wait for the six-week open enrollment period each fall to sign up for health insurance, the American Rescue Plan Act created a special enrollment period that runs through mid-August. 

Most state marketplaces have done the same. That means you can go to HealthCare.gov or your state option and sign up for insurance now if you need to and can take advantage of the new subsidies and changes. This can save you money by letting you sign up for a lower-cost plan sooner.

For more, check out who qualifies for the expanded child tax credit, and seven other ways you could get more money back on your tax refund this year


The Best Way for You to Insure an Older Florida Home

The best way to get old Florida home insurance for you

Owners of older Florida homes face a special challenge as the Florida home insurance crisis continues. Depending on the building codes when they were constructed older homes can be subject to more damage in Florida hurricanes. They may also have outdated electrical, plumbing, and heating systems that make them more susceptible to fire water damage and other perils. Finally, the age, condition, and construction materials of the roof can result in larger claims for these older homes after a Florida hurricane.

With all of that said, it is still possible for many owners of older Florida homes to find private homeowners home insurance in Florida - and at an affordable price.

As Florida home insurance companies consider the age of a home, they generally group homes into the following categories:

Built 2004 and prior

Built 1994 and prior

20, 30, or 40 years old or newer

Up to 75 years old

The first two categories take into consideration the Florida Building Code modifications of the early 2000's and the mid 1990's. Homes built after each of the building code updates are considered to be more resistant to damage, especially from hurricanes.

The third group above varies by the home insurance company, but the main theme is this: As homes reach 20, 30, or 40 years old, a 4 point inspection is generally required by home insurance companies prior to issuing coverage. These inspections take into consideration the roof age and condition, along with the plumbing, electrical, and HVAC systems. Depending on what these inspections uncover, you might be required to update or improve one or more of these items.

Finally, once your home reaches 75 years of age, homeowners' home insurance companies in Florida will rarely agree to offer coverage for it - regardless of the outcome of the inspections and home upgrades that are present.

Ignoring for a moment the distance your Florida home is from the coast, here is how home insurance companies generally look at the age of your home:

Homes built in 1995 and later will be the easiest to find home insurance coverage for and you will have more company options to consider.

As your home reaches 20, 30, and 40 years old, there will be fewer home insurance company options for you to consider as each of these levels is achieved.

If your home is 75 years old or older, the chances that it will be covered by a private Florida home insurance company are slim.

Here are some actions you can take to have the best chance at obtaining low-cost Florida home insurance on your older Florida home:

Get a Florida wind mitigation inspection on your home at your own expense.

Take immediate corrective action on the deficiencies identified in the wind inspection report. There might be certain improvements that can be made to things like wall to roof connectors that don't require a new roof or there might be other low coast mitigation steps that you can take.

Find out how old your roof, plumbing, electrical, and HVAC systems are. Find out how much it will cost to address each of these items and make the improvements that you can afford to make now.

Some of the upgrades that you need might qualify for Federal energy tax credits or utility company credits for improved efficiency. Find out if either of these sources is willing to give you some financial assistance.

Let your local Florida legislators know about your situation and encourage them to extend the My Safe Florida Home program - and to expand the pool of homes that qualify for matching grants to harden Florida homes.

Finally, when it comes to shopping for Florida home insurance, it is essential that you work with more than one independent home insurance agent - not just one. Why? Because at this point in time, there are about 40 Florida home insurance companies still writing new business. However, as the age of your home increases, many of these companies won't cover your home. Working with more than one agent will give you the best chance to get quotes from all of the Florida home insurance companies that are still covering older homes. If you are unaware of even one of these companies, you could overpay for Florida home insurance by thousands of dollars.

Don't rely on misinformation or word of mouth when it comes to finding affordable Florida home insurance on an older home. Follow these steps to give you the most options for insuring your older Florida home.

Top 4 Travel and Life Insurance Companies in Nigeria

Top 4 Travel and Life Insurance Companies in Nigeria

Let's take a tour through some top travel companies. This makes for a smoother, relaxed, and secure voyage. There are these cold feet Nigerians have generally towards insurance. Everyone feels like they can "use their money to do better things" just like my very good friend... Well, there's much more to that.

"There is nothing like a travel insurance plan in Nigeria. Who will spend their money on that?"

It took me time but eventually, I convinced my friend of the top travel Ins. companies in Nigeria offering quality service to their customers.

List of Travel Insurance Companies in Nigeria

1. AIICO Travel Ins.

AIICO offers a plan in partnership with AIG South Africa. The plan covers the following:

a. Emergency medical expenses

b. Repatriation on medical reasons

c. Evacuation

d. Repatriation of mortal remains (corpse)

This plan is for corporate organizations, individuals, and HNIs.

2. AXA Mansard Travel Ins.

AXA Mansard Travel Insuranc. is designed to provide cover for risks associated with traveling. They provide covers for:

a. Loss of property

b. Flight delays

c. Medical expenses arising from illness or accident

d. Emergency medical evacuation

3. LEADWAY Travel Ins.

LEADWAY is one of the top travel INS. companies in Nigeria that provide cover on medical, financial, and other losses incurred while traveling outside your country of residence. Their plan covers all travelers for holiday and business in the event of accidents, sickness, or loss of baggage.

4. Mutual Benefit Travel Ins.

They have a plan which provides cover for accidental death, medical expenses incurred and repatriation costs of persons whilst on an international journey.

Here are the top life assurance companies in Nigeria that you can walk into any time:

1. AXA Mansard Ins. Plc:

Mansard Insurance PLC is one of the most popular life assurance. companies in Nigeria and is duly registered by NAICOM. They offer all types of Insurance plans ranging from Car insurance to Life, House, Accident, and so on.

2. Industrial and General Ins. Plc (IGI):

Also known as IGI, it was first incorporated as a private limited liability company in 1991 and then later as a PLC in 1992. They offer; Motor Ins., Life ins., Engineering/contractor risk, Marine, Travel, and Health ins. and Fire Insurance.

Also read: Easy way to register for life assurance in Nigeria

3. Custodian and Allied Insurance PLC:

The company started operation in1997 and they provide both life (personal) and general insurance among many others.

4. AIICO Insurance PLC:

AIICO (American International Insurance Company) was founded in 1963. Some of their offerings include life assurance and annuity, general insurance, health insurance, property insurance, E-insurance, and so on.

5. Leadway Assurance PLC:

The evolution of Leadway since 1970 has mirrored the dramatic expansion of indigenous insurance service providers.

AXA Mansard, Leadway Assurance PLC, AIICO Insurance PLC, Custodian & Allied, and IGI, as above listed. These companies, in my humble opinion, offer one of the best and premium insurance services as far as travel insurance and life assurance are concerned; however not for the low budget.

AIICO, AXA, and Leadway also lead the line as far as travel insurance is concerned. These are the top life insurance companies in Nigeria that you can walk into any time:

To find out more about how to get insured, we have a handful of