Association of Personal Injury Lawyers (APIL)’s Post

The Income Insurance Gap https://bit.ly/3Klt41I

There are two types of beneficiaries that you need to be aware of: primary and contingent. A primary would be an entity or person that receives the death benefit payment after the policyholder's death. A contingent is a person or entity that replaces a primary designated beneficiary in the event they die before the policyholder. There are other designations to consider when dealing with these beneficiaries. Know which beneficiary to place as revocable (can be changed) or irrevocable (can’t change without the beneficiary’s consent). The irrevocable protects the beneficiary legally, so choose wisely. #LifeInsurance #Beneficiary #Insurance

What to Do If Your LTD Is Denied in Ontario If you become seriously ill or injured, long-term disability (LTD) insurance offers financial protection during recovery. However, claims are not always approved on the first try, even when valid. Understanding what steps to take if your LTD claim is denied in Ontario can help you avoid common mistakes that prevent people from receiving their benefits - http://surl.li/cweyyn #longtermdisability #disabilityclaim #injurylawyers

💟 Scenario: 👴🏻👵🏻 Robert (72) and Lucy (68) have designated each other as primary beneficiaries on their respective life insurance policies and updated these nominations regularly. They have life insurance policies with clear nominations. Robert passes away peacefully from natural causes. Outcomes Due to Proper Nominations: 🤎 📝 Smooth Claim Process: Lucy, as the nominated beneficiary, is able to file a claim quickly with the insurance company. The process is straightforward because the beneficiary designation is clear. 💰 Immediate Financial Support: Lucy receives the insurance payout promptly, helping cover funeral costs and any immediate expenses without financial strain. 🗝️ No Legal Complications: Since the beneficiaries were clearly named, there are no probate issues or disputes among family members. The insurance payout goes directly to Lucy as intended. 👼🏻 Emotional Ease: The smooth process and financial support reduce stress during a difficult time, allowing Helen to focus on grieving and managing her affairs. 💟 Properly naming beneficiaries for insurance policies ensures that financial support is available promptly and without complications, providing peace of mind and financial stability during challenging times. 👼🏻😇 #insurance #insurancenomination #willplanning #trustplanning #assetprotection #financialsupport #stability #wealthprotection Disclaimer: The content above is provided by the person or company mentioned. The information or service is not provided by or related to AIA Singapore.

TPD insurance is an insurance product that is often (but not always) held in your super account. This leads many people to be concerned that claiming a TPD benefit will impact on their superannuation money. However, claiming a TPD benefit will not usually impact your superannuation account balance. This article explains why this is the case. https://bit.ly/3RdPDcG #supertpdclaims #tpdlawyers #nowinnofee

Income protection insurance provides a source of replacement income to people that get sick or injured and are unable to work. However, sometimes, insurers decide to reject income protection claims or pay you less than your full entitlement. This blog gives some guidance on what steps can be taken if your income protection claim is denied or the full benefit is not paid to you. https://bit.ly/3MgKzT3 #incomeprotectionclaims #incomeprotectionclaimrejected #nowinnofee #insurancelawyers

Insurance rates are surging. Why is this happening? Insurance companies are forcing state regulators to raise rates, basically saying, "We'll leave your state if you don't give us what we want." Because of this, rates have increased over 20%, with some as high as 45.5% in the U.S. During the pandemic, insurance companies made huge profits with fewer accidents. Now, post-pandemic, they're dealing with more claims and passing the burden onto consumers. Get the full story here: https://lnkd.in/g_ZYJFvF

Insurance doesn't payout❗ Really⁉️ Funny that, as LV= paid individual protection claims totalling £127m during 2022. LV= supported more than 8,000 claimants and their families paying 95% of all individual protection claims including life, critical illness and income protection. #LifeInsurance #Trusts #IncomeProtection #CriticalIllness #Protection #LifeCover #ProtectYourFamily #FinancialPlanning #Insurance #FinancialFreedom #TermLifeInsurance #WholeLifeInsurance #InsurancePolicy #FamilyProtection

Insurance doesn't payout❗ Really⁉️ Funny that, as LV= paid individual protection claims totalling £127m during 2022. LV= supported more than 8,000 claimants and their families paying 95% of all individual protection claims including life, critical illness and income protection. #LifeInsurance #Trusts #IncomeProtection #CriticalIllness #Protection #LifeCover #ProtectYourFamily #FinancialPlanning #Insurance #FinancialFreedom #TermLifeInsurance #WholeLifeInsurance #InsurancePolicy #FamilyProtection

Overinsurance affects 20% of UK properties' meaning your clients could be paying more than they need to for insurance. Over the years, this unnecessary expense can seriously add up. Find out more here https://ow.ly/Xeob50TzZfh #overinsurance #property #insurance #rebuildcost #reinstatementcost #costofliving