| Life Insurance policies..... |
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jiten702
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| Life Insurance policies..... |
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Life insurance comes in many shapes and sizes, but the different types of life insurance policies can be broadly classified into two categories:
1.Term life insurance and
2.Permanent life insurance
Term life insurance is the insurance policy under which the death benefit is payable only if the insured dies during a specified period & this policy does not have any investment component. It is the most affordable type of life insurance available. It is designed to meet temporary life insurance needs; providing protection for a specified period of time, the term. This type of life insurance makes sense if you have financial needs that will diminish over time, such as a home mortgage or a child's tuition.
Permanent life insurance is the insurance policy that provides coverage throughout the insured's lifetime and may include an element that builds cash value. This type of policy provides lifelong protection. It also provides a savings element that accumulates a cash value over a long period of time. In other words, this type of policy, combine life coverage with an investment fund. Here, you're buying a policy that pays a stated, fixed amount on your death, and part of your premium goes toward building cash value from investments made by the insurance company.
Mutual funds |
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Mon Oct 25, 2010 7:03 am |
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debedwards
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Universal insurance falls under a much broader category known as permanent or cash-value insurance.
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Fri Aug 19, 2011 2:07 pm |
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littleroc02us
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| Re: Life Insurance policies..... |
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quote:
Originally posted by jiten702
Life insurance comes in many shapes and sizes, but the different types of life insurance policies can be broadly classified into two categories:
1.Term life insurance and
2.Permanent life insurance
[b
Permanent life insurance is the insurance policy that provides coverage throughout the insured's lifetime and may include an element that builds cash value. This type of policy provides lifelong protection. It also provides a savings element that accumulates a cash value over a long period of time. In other words, this type of policy, combine life coverage with an investment fund. Here, you're buying a policy that pays a stated, fixed amount on your death, and part of your premium goes toward building cash value from investments made by the insurance company.
Yes and when you die no one gets the cash value. The insurance company pockets the money.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Fri Aug 19, 2011 2:26 pm |
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keshavmish
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Six Basic Kinds of Life Insurance
Regardless of how fancy the policy title or sales presentation might appear, all life insurance policies contain benefits derived from one or more of the three basic kinds shown below. Some policies due combine more than one kind of life insurance and can be confusing.
Term Life Insurance
Endowment Life Insurance
Whole Life Insurance
Variable Life Insurance
Universal Life Insurance
Variable Universal Life Insurance
Term Life Insurance
Term life insurance is death protection for a term of one or more years. Some companies are offering policies with terms up to thirty years. Premiums on term insurance remain level during the life of the policy. Term Life Insurance has no cash value account. Death benefits will be paid only if you die within that term of years. Term insurance generally provides the largest immediate death protection for your premium dollar.
Some term life insurance policies are renewable for one or more additional terms even if your health has changed. Each time you renew the policy for a new term, premiums will be higher. You should check the premiums at older ages and the length of time the policy can be continued.
http://www.youtube.com/watch?v=6AIstoTbGCI
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Sat Aug 20, 2011 1:01 pm |
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