Jonathan Chua

Single people with no children often don't need life insurance because no one is relying on their income. But there are some reasons why you might need life insurance if you're single. If you died, who would pay for your funeral? Even a simple ceremony could be costly. If you don't have life insurance, someone else (e.g., your relatives) may have to foot these bills. Even if you have only a small policy, the death benefits could be used to cover these expenses. Do you have debts in excess of your assets, or do you owe money together with someone else? Perhaps you're a joint debtor with your sister on her mortgage. If you died, she'd be responsible for the entire debt. Would she be able to make the monthly payments on her own? A life insurance policy naming her as your beneficiary could give her enough funds to cover your share of the mortgage, or perhaps to pay off the entire debt. Finally, is it possible that your health will deteriorate? Maybe you have a fam...

Whatever your insurance needs, focus on your desired financial outcomes "no matter what happens," not on the specific routes to those outcomes. Insurance companies and their salespeople are very effective at tugging on your heartstrings, but does it actually matter whether you cannot work (and cannot generate an income to support yourself and your dependents) because a bus ran you over or because you suffer from dementia? No, it doesn't, yet insurance policies vary in whether they will cover "all risks" or not. (By the way, dementia is a much more statistically common risk than accidents.) Read the policy documents very carefully to understand what is included and what is not. Then buy only the insurance you need in your personal circumstances. Term life insurance Payout in the event of death (or "total and permanent disability," narrowly defined) within a specified period, for example before age 65. Life insurance is intended to support the lifesty...

The simple answer is as much as you can. Everyone makes a different amount each month. They also have different financial obligations each month. It is important to realize that one set dollar amount is not going to work for everyone. Here are some basic guidelines you should follow when determining how much you should save each month. Start With 10 percent of Your Income The standard that many experts set is at least 10 percent of your income . This is a good starting point, to save 10 percent of your salary. It is an easy way to start because it is a set amount of money each month. It should not be that difficult to save 10 percent of your income, but you may want to increase this amount over time . Eventually, you can work up to 20 or even 30 percent to increase your savings and plan for your future. Save Beyond Retirement Savings It is important that you are saving in addition to the money you are putting in your retirement savings account. If you do not, you will never sa...

If you’ve been in an accident and/or your vehicle has recently been severely damaged (or at least damaged in a way that will cost more than your deductible to repair), one of the first things you did in the days that followed was probably filing a claim with your car insurance company. While you should pat yourself on the back for being a responsible adult and getting through this tough situation, unfortunately, the process of what comes next can be somewhat of a hassle. After you file an insurance claim , you’re hoping to receive enough money from the insurance you’ve paid for to cover the costs of the accident or damage — sounds simple enough, right? Well, the insurance company is also trying to save as much money as possible and not pay you any more than they absolutely have to. What Happens After You File Once you’ve completed the process of filing a claim with your insurance company, a claims adjuster is usually assigned to your case. This person is an employee of the in...

There are various risks that we may face during our life time. Accidents, illness or diseases or even death will lead to financial problems and insuring oneself will make the ones financially dependent feel secure. Insurance is something that helps us stay risk free. Even if disaster strikes we would have the financial stability to survive. There are several insurance companies from around the world that provide insurance coverage to the people who are dependent on the insurance holder. Here we present the list of the Top 10 best insurance companies of the world in recent times: 10. Allianz SE 9. Japan Post Holding Co., Ltd. 8. Assicurazioni Generali S.p.A. 7. Munich Re Group 6. United Heath Group 5. Prudential plc. 4. Berkshire Hathaway 3. China Life Insurance 2. Zurich Insurance Group 1. AXA related  Top 10 Largest Insurance Companies in The World source>>