zTermLifeInsurance Blog
Sunday, March 14, 2010
- 12
Mar
2010 -
Term Life Insurance - As Essential As a 401K
Filed Under: Blogging
0 comments, add yours
Term life insurance offers financial compensation to your family in the event that you pass away. Paying mortgages, car payments, and other monthly bills can be an extreme burden without your income, especially if you were the sole provider in your family. Term life insurance will provide necessary funds to handle monthly expenses and protect your family from financial peril.
As you buy term life insurance, you'll want to take inventory of all your expenses. You'll also want to consider what assets you have on hand that can help lessen the financial strain, such as life insurance policies offered by your employer. Then you'll have a good idea of what your total debt is, what portion your family will already be able to handle, and how much term life coverage will be needed to make up the difference.
From there you can buy term life insurance online. It's easy to get estimates and plan details online, and if you already have a rough idea of how much coverage you need it will be even simpler. With an Internet search and a few clicks of the mouse you can provide your family the strongest level of financial security available, in the form of term life insurance.
- 11
Mar
2010 -
Term Life Cover Around the World
Filed Under: Blogging
0 comments, add yours
International term life insurance comes as a boon to those expatriates looking for suitable life insurance for periods up to 10 years. Term life insurance is pure life insurance, which means that there is no savings component attached to it, and when the term ends, so does coverage.
Expatriates are often in a fix when it comes to term life insurance, because many companies in the United States state that the term life insurance ceases to be valid after 12 months of living outside the U.S. The reasons for this are varied, but prime among them is the fact that U.S. term life insurance is cheaper than insurance in other parts of the world.
International plans such as IC+ Term Life Insurance offer coverage throughout the world. This is not just useful for expatriates, but also for those whose work and life takes them around the globe. Coverage with IC+ Term Life Insurance is valid if the plan holder lives in most parts of the world.
However, most international term life insurance excludes war or war-like operations. Some plans also exclude certain countries from coverage, and it is best to read the fine print before signing on.
- 09
Mar
2010 -
Nothing Lost in Translation with Right Term Life Cover
Filed Under: Blogging
0 comments, add yours
Susan Mosher is an expatriate posted in Turkey. She wanted this assignment, even if it meant spending time without her family for a couple of years. She purchased term life insurance through the IC+ Term Life Insurance plan.
Until now, Susan has had a smooth transition to her new home, as she only needed to communicate with folks from her office, who all spoke English. On one of her out-of-town travels which took her away from Istanbul, Susan noticed that her passport was lost. She now desperately needs assistance to get her documents back, as also translation and interpretation help.
Fortunately, the IC+ Term Life Insurance plan offers these travel-related services along with the plan. To utilize these services, the plan must be valid, and the plan holder must contact the company’s customer service numbers to avail of the benefits. Remember that the numbers may not be local for your current country of residence.
Some of the other related travel assistance services provided by IC+ Term Life Insurance include medical referrals, assistance with prescription drug replacement, emergency travel arrangements for family, embassy referrals, and bail bond assistance. With just the right kind of international term life insurance, Susan was able to insure her peace of mind in a foreign land, as well as her family’s, after her passing away!
- 08
Mar
2010 -
Be Calculative: How Much Term Insurance?
Filed Under: Blogging
0 comments, add yours
Term life insurance is usually only a part of an individual’s life insurance mix. How much term life insurance is required by a person is answered by many questions, important among them being, “After my passing, how much money per year will my family need to maintain the same standard of living that they enjoy now?”
There are several online calculators that can help you figure out the amount of term insurance you will need. Online calculators usually take into account inflation, the interest rate, and your annual income, in addition to your spouse’s income, to arrive at the ideal term life insurance that you will require.
As a rough guideline, life insurance is suggested to be pegged at about ten times the annual income, although this amount can vary greatly depending on the other investment/insurance options, and outstanding mortgages/debts.
When it comes to expatriates, the calculation becomes a bit more complicated, as the salary may not be strictly proportional to the costs of living, and the expatriate may be able to save more than his/her colleague living in the United States. The problem is sometimes compounded by the fact that expatriates will find it difficult to get reliable life insurance. Special international term life plans such as IC+ Term Life Insurance can be just the solution.
- 05
Mar
2010 -
Do I Need Term Life Insurance?
Filed Under: Blogging
0 comments, add yours
Do I have debt? If you have any kind of debt, whether it's a mortgage, a credit card, or an auto loan, someone will have to pay the balance of it if you pass away unexpectedly. With term life insurance, you can buy enough coverage to pay for all of your outstanding debt, and you can designate a beneficiary who can take care of these expenses in the event something happens to you. So no loved ones will be stuck with debt they're unprepared to pay.
Do you have a family? If you have a spouse and/or children, they will have enough to worry about in terms of grieving and moving forward psychologically after losing you. Don't leave them to figure out how to address financial problems too. Purchase a term life insurance policy that will help pay off your largest debts and preferably account for the lost income of your salary as well, so that your spouse doesn't suddenly have to worry about stretching their salary wide enough to cover all of your family's weekly or monthly expenses.
It sounds almost too simple, but it's true. If you are at the stage of your life where you have debt, a family, or both, then you're at the stage where you should be considering the purchase of term life insurance. It's a product you hope you'll never have to use, but you don't want to be without.
- 04
Mar
2010 -
Term Insurance Also for Terminal Illness
Filed Under: Blogging
0 comments, add yours
Max Rubens is a troubled man. A U.S. citizen, he was stationed in Spain for five years, with no term life insurance. He was 30 years old and healthy, and the companies that he approached for life insurance denied his application because he would not be living in the United States.
Max also had purchased international travel insurance for one year—surely that would cover all the basic expenses? His wife, who still lived in the U.S., was financially independent, and looking for insurance seemed like a waste of time for Max.
A year later, Max finds himself with terminal cancer. Shattered, he knows that treatment for the cancer will soak up his and his wife’s savings, and will increase their debt as well. If only Max had looked a bit more, he might have found the IC+ Term Life Insurance plan to be very useful at this difficult time.
Term life insurance plans such as IC+ Term Life Insurance often come with a terminal illness benefit, which pays half the insured amount when a terminal illness is diagnosed. The condition is that there must be medical cause to believe that the plan holder has less than 12 months to live. It is worthwhile to take a look at term life insurance benefits even if you are healthy.
