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The importance of life insurance is that it provides financial security for the future of those you name as beneficiary on your life insurance policy. Life insurance is a contract that pays out a life isnruance death benefit in return for the premium payments, subject to the terms, conditions, and exclusions in the contract. The life insurance proceeds can be used by the beneficiary for any reason they choose. That means you can name your family members as beneficiaries to your life insurance policy and they could receive the proceeds upon your death, if the life insurance policy is still "In Force". The proceeds from a life insurance policy may be used for any number of reasons including, paying off a mortgage, paying college tuition for your kids, providing funds for your spouse's retirement, paying for your final expenses, or providing money for your family to continue their current lifestyle. Life insurance provides the financial means for your beneficiaries to have a financially secure future if you are no longer there to provide for them.
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Answer Call a licensed life insurance agent
You can check your local phone book or online to find an agent and get quotes. Independent brokers are best as they represent a multitude of companies and can literally sh…op for the best policy to your specific needs and qualifications. But, here I can help you to mention top insurance company of USA: American General, American National Insurance Company, Rais Insurance, Banner Life and Rais Insurance. They help you to cover best prices and individual commitment to every client.
With a wide range of life insurance policies available in the market today, it is important to know how to select the best option. With rising awareness about financial pr…oducts and its benefits, an increasing number of individuals are investing in different types of life insurance policies. In return for the insurance company's promise to pay, the purchaser of the policy pays a periodic sum of money called a "premium". In most cases, the premium can be paid monthly, quarterly or annually. If premiums are not paid as agreed, the policy may lapse. This quickly occurs in the case of term insurance which does not accumulate "cash value". Cash value accumulates in "whole life" policies but not in "term insurance" policies. Cash value may be thought of as a savings account within the policy. If cash value has accumulated and premiums stop, the accumulated cash value may be used to pay the premiums. Once the cash value has been fully used, the policy will lapse for non-payment of premium. A person can buy insurance on his/her own life. Additionally, another person or entity, such as a business partner or a corporation, can buy insurance on another person provided that that buyer has an "insurable interest" in the life of the person to be insured. An insurable interest essentially means a "stake" in the continued life of the person insured. The stake can be financial, based upon certain family relationships, or other reasons that the insurer permits and State law recognizes.
Some important factors to consider when choosing life insurance, inlcude: How long need life insurance. How much life insurance you need. What type of life insurance to buy. T…he financial rating of the insurance company. The customer service of the insurance company. How much you can afford to pay for life insurance. Your goal for buying the life insurance. Who to name as beneficiary. Anyway, if you are looking for a very affordable life insurance, I recommend you check the site below to get free quotes and compare premiums between different insurance companies in the US. The website will pull up comparable premiums from the database, that would give you the best insurance quote and decide which one is best for you. http://www.goodinsurancepolicy.com
When getting life insurance, it's important to get the right amount of life insurance to meet your needs. One way to find out how much life insurance you need is to… use a life insurance needs calculator to help you decide. These are available online and it only takes a few minutes to find out how much coverage you need. That way, you don't pay for more life insurance than you need, but your family has the protection they need.
Answer 1 Yes i have life insurance that can pay well to my family after my death. At least, they will not depend on some one else. If i will alive that time i would …like to convert it as my pension to secure my further future. Life is so insecure, if something happen to you at least that amount will help your family to live better. Else, you can get the information on Life insurance and about their plan: Rais Insurance. Answer 2 NO. While I would recommend life insurance in order to better protect your loved ones financially after your death (or at minimum pay for your funeral expenses), I am not aware of any legal requirement to have life insurance in any district or any country. (There is a possibility that such a requirement may exist in some esoteric jurisdiction, but it is certainly not common.) So, you do not "have to have life insurance", but, if you are a wage-earner in the family, you should have life insurance.
Where to get Life Insurance There are many fine company web sites that make life insurance quotes available on the internet. The problem with most quotes is they fai…l to ask the right questions or do not know which carriers view certain underwriting issues differently. You are always in a better position to speak with an independent life insurance agent that can give you suggestions on how to make coverage affordable. You may also get our free guide to life insurance at from us at LifeNet Insurance Solutions.
Insurable interest refers to when someone (called Person A) wants to buy life insurance on another person (Person B). In order for Person A to buy life insurance on Person B, …there must be an emotional and financial loss to Person A if Person B dies. You can't buy life insurance on some random person. Insurable interest does not apply to beneficiaries. You can name anyone as beneficiaries, whether they are related to you or not. If you are planning to get an affordable life insurance, i recommend you visit the site below and get insurance quotes. The site will pull up comparable premiums between different insurance companies and show you the best quote. http://www.goodinsurancepolicy.com
with spouse, children, or others who depends on their income.
There is no webpage online that will give you any kind of essay on Importance Of life insurance. You will have to refer books from some libraries or translate an essay from En…glish to Hindi
Life Insurance - in the event the insured dies the policy pays out a tax free amount to the beneficiary. There are three types: Term Insurance - Insurance coverage for a stat…ed term. This a great way to cover temporary insurance needs.Whole Life - provides permanent coverage with a guaranteed death benefit and level premiums. Plan gains value over time and is subject to investment gains and loses.Universal Life - provides permanent insurance with an optional tax sheltered investment component. Death Benefit can be level or increasing making this an excellent option for estate preservation and maximization.
There are many life insurance policies available in the market which offers you impressive features at reasonable premium. I would suggest you to get quotes from various life …insurance providers and accordingly select a best plan which offers you good savings and features. I have purchased a life insurance policy from Bajaj Allianz and I am quite satisfied with the offerings and it is significantly cheaper than other offline term plans.
Life insurance, as the name suggests, is insurance on human lives. Life insurance policies are considered to be "valued policies" because they are purchased in finite amounts,… rather than designed to pay damages or the then-current value such as property insurance does. Life insurance comes in several varieties, the main categories being term life and whole life. Term life insurance remains in force as long as premiums are paid, but has a definite termination date (such as 20-years). If the insured does not die during that period, the insurance expires and there is no remaining value. Stated otherwise, it may be said to represent "pure protection". In contrast, there is "whole life". A part of the periodic premium is applied to pay for the death benefit, and another part of it is applied to a savings element. The savings element accumulates slowly at first, and depending upon the nature of the policy, may be used to invest in an array of income-earning assets, such as mutual funds, that the insurer offers as "investment" options. The earnings of the policy is referred to as "cash value", and depending upon the terms of the policy, may be used by the insured or the owner of the policy for a variety of purposes, including borrowing it. If left untouched, the cash value may reach a point where it fully supports ongoing premiums such that the insured has to pay nothing more. "General insurance" is the term often used to refer to non-life policies, such as homeowners, auto, and other forms of property and casualty coverage
It's not something you were naturally born with. Unless you took out a plan with your bank or job or somewhere and are paying into it my guess is no.
There are 2 primary types of life insurance. Neither is "best" because they serve different purposes and may be more appropriate at different times in one's life. On…e type is "whole life", if which there are several varieties. This provides both insurance protection and within the policy is an element which may be called "savings". It is referred tyo as "cash value". Each premium paid is allocated between the actuarially determined amount (based on age, health history, and other factors) to provide insurance protection. Another portion of the premium goes into the "cash value" which may VERY generally be thought of as a savings account. Different companies and different policies do different things with the savings element-such as give the insured an option to invest it, at different degrees of risks, into investment vehicles that the company offers. Generally, the premium paid for whole life insurance remains stable and predictable, but it is a higher cost insurance than term life insurance. The cash value can be borrowed from the policy as a "policy loan" at an interest rate stated in the policy. The other main type of life insurance is "term life". It is often called "pure protection" because premiums go strictly to the payment of the death benefit (and administrative costs). There are varieties of term life such that the premium can remain level for a period of years, after which it increases, sometimes very substantially--so substantially, in fact, that there may be a point when the insured is unable to continue the premiums at the new level and has to allow the policy to lapse. The additional danger then is if there has been an intervening medical issue, one may be rendered effectively uninsurable despite the premium. Many people start a portfolio of life insurance that combines some whole life and a great deal of term life (because it is relatively inexpensive) to provide adequate coverage while their family is young and financial needs are greatest. As financial responsibilities decline, the need for great amounts of life insurance (and perhaps the need to pay increasing premiums) may also decline. In all events, life insurance has to be a part of an overall financial plan and should be purchased after advice and counsel of a licensed life and health insurance agent. There are mainly 5 types of life insurance policies: Term Insurance Policy Whole Life Policy Endowment Policy Money Back Policy Pension & Annuities
It is important for Diabetics to have life insurance in case they have an urgent medical problem which needs a doctors' services right away. With life insurance, if they are h…aving a problem involving their sugar intake, this can help them financially, whatever the problem might be.