Long-Term Care Insurance Association Releases Linked-Benefit Price Index

A 55-year-old male should expect to pay around $5,300 annually for an average linked-benefit long-term care insurance policy according to the just-published Price Index.  The first price analysis comparing leading linked-benefit insurance costs and benefits was recently published by the American Association for Long-Term Care Insurance. “Linked-benefit long-term care insurance combines the benefits of a life insurance policy with a rider that can provide long-term care benefits,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance.  “These policies now outsell traditional long-term care insurance making it time for us to…

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5 Great Reasons to Buy Life Insurance

If you are young, healthy, and single, do you need life insurance? Maybe not, but as soon as you are in a relationship with someone else or have a child, things change. Purchasing a life insurance policy can be one of the most important things that you do for your loved ones. Protect Your Dependents One of the main reasons to get life insurance is to protect your dependents. If anything happens to you, a life insurance policy is one of the considerations for end of life planning and can…

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Life Insurance Myths – Debunked

When it comes to financial planning for your future, life insurance should be a key part of the process. Having a life insurance policy suited to your individual needs can mean that your loved ones will have financial protection when you pass away, and secure in the knowledge that future expenses can be covered.  However, just as much as you are made aware of the benefits of life insurance, so do rumours and myths appear, especially across the web. With this in mind, we are going to debunk the top…

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Does Life Insurance Cover Motorbike Riding

Are you a keen motorcyclist and want to get life insurance? Are you wondering whether your family will receive a payout if you have an accident and the worst happens?  According to the Insurance Information Institute, in the event of a traffic accident, fatality in motorbike riders is 29 times higher than for passenger car occupants. It is both a worrying statistic and a solid reason to doubt that insurance companies might turn down your application for life coverage.  So, do insurance companies offer life coverage to motorbike riders? The…

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Life insurance shopping trends rise and fall with local COVID-19 cases

Life insurance shopping - dollar sign - virus

A new NerdWallet survey found that Americans gain and lose interest in coverage based on case numbers. This year, there has been a substantial rise in life insurance shopping behaviors among Americans. Many studies indicate that it is a response to the COVID-19 pandemic, and people’s increased awareness of their own mortality. The study showed that as coronavirus cases fall in an area, so does interest in this type of policy. The research, conducted by NerdWallet, found that 35 percent of American consumers who had been life insurance shopping during…

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American life insurance policy trends have shifted since the pandemic crisis began

Life insurance policy trends - man looking thoughtful at laptop

US adults are taking this coverage more seriously and have been considering it more frequently. The pandemic crisis has forced millions of Americans to consider their finances and their mortality, creating a striking shift in life insurance policy trends across the country. This changing direction has been particularly strong among younger adults, parents and minorities. American young adults, those with kids and minorities have all been taking a closer look at their finance management. Among those examinations has been a boost to life insurance policy trends, suggests a new Unum…

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Life insurance policy availability for coronavirus coverage may soon shrink

Life insurance policy - person wearing mask using computer

Insurers feel the COVID-19 pandemic comes with too many uncertainties to offer cover. Life insurance policy sales have been spiking since the start of the COVID-19 pandemic, but the availability of this coverage may not continue as it has been. Insurers have been faced with a sudden and dramatic amount of unknown coverage data. Life insurance policy sales are based on the answers to several questions and the use of actuarial tables to determine each applicant’s rates. However, with the addition of the coronavirus pandemic, the factors influencing what an…

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