Life insurance opens one's eyes about the importance of mortal iife. Life insurance policies are indispensable tools in wiping widow's tears, as in middle class families they are the worst sufferers in the tragic demise of the main bread earners of the family.
That is definitely correct! The terms of that 'contract' and the obligations on each party will be dependent on the country (and possibly the state), however for term life insurance policies generally the life insured is obligated to pay the premiums for the insured sum and if the life insured has met the application obligations in obtaining the policy, the life insurance company is obligated to pay that sum. In Australia, life insurance contacts between the life insurance company and the life insured is regulated by the Insurance Contracts Act 1984. In the UK, I believe the origins of Life Insurance contracts stem from the Life Assurance Act 1774.
You are "supposed" to sleep 8-hours a day, which is a third of a day. Extending that, you sleep a third of each month, a third of each year, a third of your life. This is all, of course, based on the 8-hours per day sleeping schedule.
Generally, that refers to having more insurance that you need. If you have total debt of $50,000, but you have $500,000 worth of life insurance, you have excessive insurance. Yes, it is true that the beneficiary gets to keep the money, but generally, life insurance was intended as a way to pay off your debts after death, not a way to make your heirs rich.
Yes, there are plenty of insurance companies that offer 'no medical life insurance'. Some companies specialize in them like Canada Protection Plan. Others also provide it alongside their traditional life insurance products. This includes Industrial Alliance, Humania, Assumption Life, and more. Before you buy a 'no medical life insurance' policy, you should know that they are more expensive than traditional life insurance. Nowadays, many traditional life insurance products don't make the medical exam mandatory. This is true if you're buying a smaller amount (
"Insurance and Taxes. No. All proceeds or withdrawals from any insurance policy are not taxable." This is not true. If you cancel a life insurance policy, the growth on the cash value IS TAXABLE. If you do not surrender your policy, the money is taken as a loan and therefore not taxable, but interest that has to be paid back to the insurance company grows.
No, there are company's out there that will give you Life Insurance even if you are not a US citizen. Try, http://www.buyamericaninsurance.com/mnui/ictermlife/brochure.jsp They maybe able to help you. Michael FindYourPolicy.com
Premium for term life insurance is always lower in comparison to endowment, ulip or any other life policies.However, age factor plays a part in determining the premia for term life insurance.The reason for lower premium in term life insurance is that there is no maturity payment and payment is only made to the nominee in case of any eventuality of the life assured.
Yeah 3rd class can't get into a lifeboat!
No, premiums for term life insurance typically increase as people get older because as they age, they are considered at a higher risk of death and therefore more expensive to insure.
When a life insurance policy is purchased, the purchaser (usually the insured) designates a primary beneficiary and a contingent beneficiary. The contingent beneficiary gets the proceeds if the primary beneficiary predeceases the insured. The insured can name a new primary beneficiary by contacting the insurance company or the insurance agent. THIS IS ONLY TRUE FOR PURCHASED LIFE POLICIES___ NOT POLICIES THROUGH AN EMPLOYER UNDER ERISA.
You may or may not actually need another life insurance policy for accidental death, but it is true that the more insurance you buy, the more money your dependents will receive in the event of your death. Of course, it is also true that the more insurance you buy, the more it will cost you in premium payments, and if you do not suffer an accidental death, you will never receive anything for that money. So, it's a kind of gamble. Your dependents might come out ahead, or they might not.
"Open Your Heart" by Madonna was released in the United States in 1986 on her third album "True Blue". It reached number one on the Billboard Hot 100.