Life insurance is nothing but the protection against financial loss resulting from death. The chief objective of life insurance is to provide a means of financial security to the family of a person, after his death. There are three parties in a life insurance transaction, namely the insurer, the insured and the owner of the policy or the policyholder.
It is easy to obtain life insurance quotes, with the help of the technology of online search engines. These search engines look for insurance providers, to get the best possible rates and the coverage that people look for. There are various companies that offer low premiums. Basically, there are three types of life insurance quotes. They are Term life insurance, Whole life insurance and Universal life insurance. Quotes are available for special risks, such as Health Risks, Hazardous Activities and Legal Circumstances.
Term insurance is the simplest form of life insurance. It provides financial security for a definite time. These policies are comparatively inexpensive and are suitable for insurance protection while paying off a mortgage. However, it is a short-term insurance and it does not offer cash savings.
Universal life insurance and whole life insurance are types of permanent life insurance. These provide long-term
The ultimate reason for buying life insurance is for paying a benefit (i.e. a dollar amount) to a beneficiary when you die. It can also help you save money. Life insurance policies take one of several basic types. This article summarizes each type and some of the benefits it offers to your situation.
Life insurance is priced by the insurance companies based on your age and health. Life insurance companies expect you to live statistically so many years more at a given age and health status and gear their costs accordingly. Because of this, your acceptance by the insurance company depends on how the condition of your health fits into their costing scheme.
The types of insurance available may offer additional living benefits such as a savings vehicle. Choosing the policy type that best addresses your needs is the name of the game. Here are the classic policy types to choose from.
It offers no savings component to it which leaves no ‘cash value’ associated with the policy. Therefore its premiums (i.e. the payment you make to own the policy) covers only the risk of death during that year. I.e. you’re paying for what is called ‘pure’ insurance.
Many insurance companies offer level
When looking for the best rate for life insurance in the state of Illinois, first make sure the insurance company is licensed to do business in the state by contacting the Illinois Division of Insurance. Secondly make sure the company is financially stable. If you have purchased a life insurance policy and the insurance company you purchase your policy from goes out of business you are protected up to $300,000 in life benefits per insured life. In other words, if you have 5 life insurance policies totaling $1,000,000, you will only be guaranteed $300,000 in benefits.
If your insurance company is no longer in business, contact the Illinois Division of Insurance to track down the original policy. They will do this by forwarding the name and address of the succeeding insurance company to you. If that information is inadequate to enable you to determine if the new insurance company has your policy, contact the Illinois Division of Insurance in writing. They will investigate and respond.
To avoid such an unfortunate situation, make sure you know the financial stability of your life insurance company before signing on the dotted line. You can find out their
No one likes to think that they are going to die one day – but, as the old saying goes, there are only two things certain in this life, death and taxes. There isn’t much we can do about taxes, but we can make life easier for our loved ones after our death by purchasing a life insurance policy now.
There are several factors which determine how much you will pay for your life insurance in Missouri. The size of the policy you take out, your age at the time you take out the policy, your health, your lifestyle, whether you buy a term insurance policy or a whole life policy…even your credit rating affects the amount you pay for your life insurance.
Let’s start by discussing the two basic types of life insurance – term and whole life.
A term policy is good for a certain time period (the term of the policy). At the end of that time period your insurance lapses and if you want more coverage you will have to purchase a new policy – at a higher premium.
A whole life policy covers you for your…whole life. Whatever premium you pay when you buy the
A study by Legal and General has found that Britons think it is more important to protect their mobile phone from loss or theft than it is to insure themselves against critical illness, accident or death.
The most surprising result from the survey highlights the fact that possessions are more likely to be insured than the person owning them. Most people surveyed, over 54%, had no protection policies whatsoever, while 22% had their phone insured compared to 17% who had critical illness and life assurance. Income protection was considered important by only 14% of those questioned.
Furthermore the survey finds that significantly more people have insured their home contents than their life, with over two-thirds of those questioned saying they have insured their home against 41% who say they have insured their life. Time and again the insurance industry reports that there is a huge gap between the amount of cover that UK citizens have taken out and estimates how much should actually be taken out to cover everyone, and this survey suggests that gap is in no danger of closing.
Legal and General’s protection sector Marketing Director Bonnie Burn’s thinks it is a worrying trend. She said:
“The priorities of the nation seem