Why we take Term Life Insurance?

There are various reasons for why we take term life insurance. Here are few common reasons why people are interested in buying this type of temporary insurance.

• Protection of their Dependents: For the protection of the spouse and the children of the insured is the one reason for getting this kind of insurance. In the time of an untimely loss of life, within the chosen time frame of coverage, the spouse and the children will receive an amount agreed upon, which is given in terms of the coverage. This kind of policy assures the family of financial security and stability even after he or she losses life unexpectedly.


• Education of Children: Other than providing financial aid which is received by the family of the policy holder in time of his or her untimely demise, his/her children are assured the cost of their college education will be covered completely.


• Funereal costs: In case of untimely death, the funereal cost of the policy holder will be covered. The Term Life Insurance gives assurance to the policy holder’s family not to incur additional costs for the funereal of the policy holder.


• Free of Debt: If there occurs untimely death of the policy holder then the insurance assures that the family will not inherit his/her debts. All the debts of the policy holder will be covered by the policy.


• Continuous Mortgage Payments: In case of the Term Life Insurance holder’s untimely death, the mortgage payments left by the policy holder will be covered by the temporary insurance policy, assuring the roof over the plan holder’s family.

These are few reasons why more and more people choose to buy Term Life Insurance to ensure the security and stability of their family.

Do you need a life insurance calculator?

Life insurance may not be an important part of your life but no financial plan could be complete without it. If you are purchasing a life insurance plan then, you must calculate how much you are going to invest. You must know the investment capital that your family will require at the time of your death. How will you know?

Here comes the work of life insurance calculator. If you are having problem calculating how much you should invest in your life, the life insurance calculator will make it easier for you. This is an easy tool that will determine whether you have enough coverage that will meet your expenses.

Life insurance calculator can determine how much amount or life insurance you may need. Many insurance companies offer easy-to-use life insurance calculator to estimate the amount you would like to invest. You only need to provide some basic information on the family resources, current life insurance coverage, debt and expenses and future income needs. The calculator will provide an estimate of the amount of needed for your life insurance coverage. Remember, you must carefully put the information carefully. Even your gender will affect the amount of life insurance so be careful when you put the information.

Calculate your life insurance amount today using a life insurance calculator.

Life Insurance-Why do we need it?

Life is filled with so many unexpected occurrences that you never know what will happen to you next. That doesn’t mean you just wait there for something to happen. If you are the primary wage earner, you must realize that you must do every possible way to protect your family. Have you ever thought about keeping a life insurance? This is perhaps the best way to protect your family against any premature death. Your family can still maintain the same lifestyle and maintain with the help of this financial plan.

If you are still thinking why you need a life insurance then here are some points that can tell you why you need one.

It pays the bill

Many people do have big bills to pay up like mortgages. This big bill can be paid off and no one in your family has to pay or bear the brunt of it.

It pays off later

It is best to insure yourself when you are young. When you are young, ailment is rare but when you grow old, you can make that cover up with the insurance. Your premium will start low and it can be the same till you grow old.

It pays for your family

Often in a family, the husband is the bread earner. Wives often stay behind to look after the household. Your spouse doesn’t have to worry about any unpaid bills or about their life.

Now you know important is life insurance. Act now and get one now!

Why Get a Life Insurance before you die?

Many people in this economic situation do not realize that if their employers force them to retire then they would be left with no Life insurance. Unfortunately, Life insurance is no portable thing; insurance sponsored by your employer will soon expire after you leave your employer.

To give protection to your family, you need to be proactive just if any unfortunate circumstances happen in your life. Many people do not understand that insurance those sponsored by the employer, do not evaluate your health conditions before issuing a life policy. Risk is spread among all the employees who in most of the cases do not have to use the insurance, so the premium is being paid into the policy of employer which does not exceed the insurance companies pay out in death benefits. That is the reason premium being much lower than if you would have purchased it individually.

While buying insurance on your own, your health will be evaluated. It is said that the best time to buy insurance is when you are healthy; it will help keeping your premiums lower. The less healthy you are there are chances of you pay more premium. Important rule to purchase your life insurance is when you are at your beast health condition. Purchasing life insurance in emergency and you are sick then it is hard to find any affordable coverage. Age plays an important factor on the premium’s affordability. As you grow older the premium will also be high.

These reasons mentioned above tell you the importance of being proactive on buying insurance even if you are part of employer group plan. Insurance plan sponsored by an employer in most of the cases are not guaranteed by life time coverage. So it is better to be proactive and purchase insurance on your own to ensure protection to your family.

Life insurance is the key to tension free life

Who doesn’t want to have a secure life, all human being love their life. With passing time, technologies around us have become powerful and made our lives easy. People have a general notion that life insurance policy is for those with families. It is true that life insurance policies are very important for the families but it is also true that it is also important for an individual. Term Insurance policies save our financial resources against any mishaps of our life to protect the future of our family.

Benefits of having a Life insurance:
• By having a life insurance policy you can pass equal assets to your children who are not working in your family business.
• Life insurance policy helps in securing the future of your child’s educational purpose as the value of insurance policy increases if something happens to the your life.
• Policy holder doesn’t have to pay tax on the cash-value accumulation till the policy holder withdraws the amount from the policy.
• Life insurance can also be used for paying your estate taxes and other estate settlement amount.
• In case of business transfers, life insurance provides ready amount which can be financed for transaction among the business parties who are willing to buy the share of deceased person from his/her estate.
• In case of home mortgage, you can pass your family residence to your spouse or children if you have a life insurance policy for the house.
• Life insurance policy is the way to retain your business from sudden loss of any important employee. Any untimely loss of an important employee can cause heavy loss to the company.
• There are certain life policies that provide liquidity from which you can pay for your business or personal loan.
• Certain policy companies give good returns to its customer which is indeed a helpful way to save funds for retirement years.

• A benefit through life insurance policy is available immediately to your family if there is a sudden loss of life of the policy holder.
With the growing competition of the number of insurance companies it is hard to select the best one. There are different types of policies which are designed differently. You will have much choice to select the appropriate life insurance plans for yourself. These types of benefits are given to the one who has partner or family or children.

It is mainly to protect them. But there are also other companies who provide benefits of life insurance different for different family conditions.
Like with time, price of things increases, so the life insurance policy companies are also getting costlier. People want to have guarantee of life in reasonable price. So you have to be careful enough to choose the right plan for yourself and your family. There are generally two type of life insurance; Term insurance policy and Permanent policy. Before you buy an insurance policy, you need to understand it properly and also know the difference between two. You will always want to get best of deals for your family so it is better to do good research before settling for any of the life insurance policies.

Life Insurers Being Reinvigorated By Tax Relief

The removal of 5 percent premium tax and 0.25% documentary stamp tax on life insurance policies means continued survival of country’s life insurance industry. The life insurance premium companies from Malaysia, Thailand, Indonesia are stronger better capitalized than Philippine counterpart. The country’s ratio for direct premiums has increased to 0.71 percent. The penetration rate has reached to 1.86 percent in Thailand, 3.38 percent in Malaysia & 8.85 percent in Japan.

Still we are competing with insurers who have found creative ways to sell policies to high value, which deprive government of tax revenues & premiums to insurers. Most nations do not charge premium taxes, with others charging a slap for one time rate.
The removal of 2 tax forms would result in better sales for private insurers with more tax revenues to the government for improved sales. Only 13% of country’s population has 1 form of life insurance, of which 3-5 percent of insurers hold privately issued policies with majority of policyholders relying on government agencies which includes SSS & Insurance systems.

Half of privately issued policies are group insurance agents which are lower than individual policies making them available in terms of protection. Two congressional bills have been passed in 2 chambers of Congress, which the industry is hopeful to be signed by the end of October.
The premium rates have been increased several times which would reduce the tax burden & poor investment climate. At one time, life insurance industry is a negative rating which is due to weak capitalization & low profitability for tax burdens.