What would you like to do?
8th july 1988
Was this answer useful?
Thanks for the feedback!
Answer If you are single and just starting your job than my guess is you are young. It makes very good sense to buy a perm policy now while the cost is th…e lowest it will ever be and you are most likely healthy. Planned properly you will not regret it. As far as term insurance goes, if your company offers it, take it. You will most likely not find it for less elsewhere unless what they offer is Colonial, Aflak or Combined. The real answer is given by you, Do you have any debt? Are you a person of good Character? 4lifeguild
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.
Life insurance companies may insure or guaranty your life insurance policy in one of two ways. First, a life insurance company may buy reinsurance to re-insure the losses …they may pay out for their book of life insurance business in any given year. Also, licensed life insurance companies contribute to life insurance guaranty funds. A life insurance guaranty fund is a form of protection providing a fund that pays out money to policyholders if their life insurance company is licensed in the state, and unable to meet their financial obligations. Some life insurance guaranty funds pay out $100,000 -$500,000 per policy depending on the state, and the amount of life insurance you have. Many states pay out up to $300,000 per life insurance policy. Life insurance protection comes in many forms, and not all policies are created equal. It depends on various factors. While the death benefit amounts may be the same, the costs, structure, durations, etc. vary tremendously across the types of policies.
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
Bajaj Allianz was granted IRDA certification and started operations in 2001
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.
You can start to look for life insurance at any age. A lot of people start to look for life insurance at around the ages of 45-50 years old to get good rates.
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
"An individual should start researching life insurance premiums when they have an idea of why they want life insurance to begin with. A single person without family may not ev…en want life insurance as long as they have money set aside for burial. Someone with a spouse & kids on the other hand, may want to leave them established in the event something happens."
Starting a life insurance business can be difficult but dedication and the correct resources can prove successful. The first step is to create a business plan and make sure t…o achieve a state insurance producers license. One must make sure to purchase professional liability insurance and then register with various life insurance carriers. The final steps are to find office space, hire support staff and develop good marketing materials.