Life Insurance Roundup, May 30, 2016

Life insurance helps with retirement planning, but beware of the pitfalls

Cash-value life insurance could prove to be a valuable asset for clients looking to couple an insurance need with tax and portfolio diversification in retirement. But there are some major caveats involved — namely, product considerations are complex and numerous, and using this strategy inappropriately in a retirement income plan can trigger major pitfalls for clients. 

Never too late to buy a term life insurance | Business Standard News

Today, if you want to buy a term plan online, you can do so till the age of 60 years or more-something very difficult to do only a few years back. The coverage will be given till the age of 75 years to 80 years. No wonder, a number of elderly citizens are buying term plans though they are a tad expensive. 

Insurance sector’s tax structure to change – The Express Tribune

The government may bring drastic changes in the income tax structure of the insurance sector, while levying a new tax on insurance premium that could adversely affect the growth of an industry still in its infancy. 

Bill of rights to protect insurance policyholders issued | Inquirer Business

THE INSURANCE Commission has come out with a bill of rights detailing an insurer’s obligations to consumers to better protect policyholders, specifying sanctions for noncompliance. 

Should you buy annuity for regular income? – Livemint

When you retire, you want a worry-free way of getting a regular income from investing the corpus you have accumulated over your working lifetime. In the absence of social security, or sufficient pension, you need a financial instrument that will give you the income you seek for the rest of your life. 

LIC tops loyalty charts, but lead narrows | Business Standard News

Private insurers snap at the heels of the public sector behemoth, closing the gap with the lead insurer according to a survey by IMRB. 

The scary switch that happens to investors over age 60

Aging adults beware: The faith you have in your financial skills might be deceiving. 

Profit-taking caps stock market weekly gain to 1.71 per cent – The Himalayan Times

While bullish investor sentiment caused Nepal Stock Exchange (Nepse) index to advance by double digits in the beginning of the week, profit-booking in mid-week resulted in capping weekly gain to 25.77 points or 1.71 per cent in trading week of May 22 to 26. 

‘Invest For Who You Are’ And More Advice For Millenials’ Financial Future : NPR

Economists say the recession officially ended years ago. But people across the U.S. are still feeling its effects. What a lot of people had been saving and working toward for their whole lives disappeared. 


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