insurance policy

4 Living Benefits of Life Insurance

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CHICAGO, June 28, 2022 (GLOBE NEWSWIRE) — One advantage of getting a life insurance policy is the death benefit. This helps loved ones replace the policyholder’s income and pay off debts if the policyholder passes away during the policy term.

However, life insurance policies can also offer living benefits while the policy is in force. These benefits can help the policyholder make the most of their premium payments. This article will dive into how life insurance with living benefits can help policyholders while they are alive and the policy is still outstanding.

1. Cash value withdrawals

Cash value is a growth component of permanent life insurance policies. Part of each permanent policy premium goes into this component, which then grows tax-deferred at a certain rate depending on the permanent policy type.

Once the cash value grows large enough, policyholders may be able to withdraw funds from it for any use, such as emergencies, large purchases, or college tuition for their children. Keep in mind that proceeds above the policyholder’s basis, or the amount initially invested, may be taxable.

2. Taking out loans against the cash value

Policyholders can also borrow against their cash value when it grows large

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Do You Have Ransomware Insurance? Look at the Fine Print

Insurance exists to protect the insured party against catastrophe, but the insurer needs protection so that its policies are not abused – and that’s where the fine print comes in. However, in the case of ransomware insurance, the fine print is becoming contentious and arguably undermining the usefulness of ransomware insurance.

In this article, we’ll outline why, particularly given the current climate, war exclusion clauses are increasingly rendering ransomware insurance of reduced value – and why your organization should focus on protecting itself instead.

What is ransomware insurance

In recent years, ransomware insurance has grown as a product field because organizations are trying to buy protection against the catastrophic effects of a successful ransomware attack. Why try to buy insurance? Well, a single, successful attack can just about wipe out a large organization, or lead to crippling costs – NotPetya alone led to a total of $10bn in damages.

Ransomware attacks are notoriously difficult to protect against completely. Like any other potentially catastrophic event, insurers stepped in to offer an insurance product. In exchange for a premium, insurers promise to cover many of the damages resulting from a ransomware attack.

Depending on the policy, a ransomware policy

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California Earthquake Insurance: Requirements, Coverage, Cost

  • While earthquake insurance is optional in California, home insurers must offer it to new homebuyers. 
  • Earthquake insurance covers your dwelling, personal property, and provides loss-of-use coverage.
  • You can purchase earthquake insurance through your homeowners insurance provider. 

California has a well-earned reputation as the earthquake capital of the US. Yet only 10% of California residents have earthquake insurance, according to the Federal Emergency Management Agency (FEMA). Many homeowners are underprepared for financial losses associated with earthquakes, which are not covered by standard


homeowners insurance

policies. If you’re a Californian living near a major fault line, you can protect yourself with earthquake insurance.

Is earthquake insurance required in California?

California homeowners are not legally obligated to buy earthquake insurance, and


mortgage lenders

don’t require it, says Glenn Pomeroy, chief executive officer of the California Earthquake Authority (CEA), the nation’s largest earthquake insurance provider. However, California law makes it mandatory for providers like State Farm and Allstate to proactively offer earthquake insurance in conjunction with a homeowners insurance policy to new homebuyers, according to Pomeroy.

Homeowners insurance will not cover earthquakes. You must purchase a separate policy to get coverage. Given the large number of damage-causing

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Former Eagles RB Jay Ajayi finally gets settlement from insurance policy; report

Nearly four years after suffering an ACL injury that pretty much ended his career, former Eagles running back Jay Ajayi finally got his insurance payout.

NFL Network’s Ian Rapoport on Tuesday morning reported that Ajayi “received a settlement for his $5 million loss-of-value insurance policy.”

Rapoport back in 2018, in the wake of Ajayi’s ACL tear that ended his 2018 season early, ajayi-had-insurance-policy-to-protect-from-injury-0ap3000000972694″reported that Ajayi had purchased a loss-of-value insurance policy as he entered the final year of his rookie contract. That ended up being a wise move.

Ajayi, who had long had knee issues, tore his ACL in October of 2018, not that long after he helped the Eagles win their first-ever Super Bowl championship to cap the 2017 season.

While Ajayi rehabbed and played again in the NFL, he was never the same. In 2019, he played in just three games for the Eagles but had just 30 yards on 10 carries; he had nothing left.

While it’s unclear how much of that $5 million policy Ajayi received in the settlement, it’s worth noting that Ajayi never signed the big second contract so many NFL players yearn to get.

Ajayi was a fifth-round pick and his

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What is an insurance rider in a homeowners insurance policy?

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own.

If you’re worried your homeowners insurance policy doesn’t provide enough protection, you may want to take out an insurance rider for additional coverage. (Shutterstock)

Homeowners insurance can give you peace of mind that your home and financial interests are protected. How much coverage you get from homeowners insurance varies by policy, but you generally get some level of protection when it comes to liability, your home’s structure, your belongings, and additional living expenses. 

That being said, homeowners insurance policies don’t cover everything, and you may need to purchase an insurance rider to get the full coverage you want. 

Here’s what you need to know about insurance riders.  

With Credible, you can easily compare homeowners insurance quotes from top insurance carriers.

What is a homeowners insurance rider?

A homeowners insurance rider acts as an add-on to a homeowners insurance policy. You may also hear riders referred to as endorsements or

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