Privilege insurance is not the same as life insurance. To receive a better understanding of the difference between the two, it is best to contact an insurance agent.
Universal life insurance means you will pay the same premium until death, where as with term life insurance you will pay a certain premium for a period of time and then may or not be offered the same premium again for another term.
No. You will only get "insurance" from an insurance company.
A life insurance policy is "portable" when upon leaving the group policy, you transfer your life coverage to an individual life policy with the same insurance carrier with no changes to the policy or increase in premium.
There are two major differences between these two type of insurance plans.Term life insurance plans are made to protect you for a certain duration maximum up to 30 years while permanent life insurance does the same for the lifetime. Also, the premiums for term life insurance are cheaper than the permanent one. Depending on how long you need the protection for, you can choose an insurance plan suits your requirements the most. If you are willing to know more about life insurance, you can visit optinsure.com/life-insurance.aspx for the same.
Life Insurance is the same thing as Death Insurance, If you are insured, and you die, your beneficiary receives the proceeds of the life policy.
Technically, there is no insurance policy called as permanent life insurance. However, you can treat whole life insurance policy as permanent since the policy covered the whole life span of the policy holder and benefit is payable to nominee in the event of any eventuality of the policy holder.
There isn't a real difference between life annuity and an insurance annuity. Both are a form of life insurance and deal with the same issues. I would go with either one.
Term life insurance has the lowest premium for a young person. Term life is temporary for 1-30 years of coverage. The younger you are when you purchase life insurance, the lower your rates. Since term life is the lowest cost life insurance, it would offer you the lowest premiums compared to the same amount of permanent life insurance.
Reputable insurance companies for whole life insurance include Gerber Life, MetLife, AllState, and Mass Mutual. Check with your auto insurer if you have car insurance, because sometimes you can combine two or more insurance policies with the same insurer and get a discount.
YES, you can have multiple insurance policies, from different companies or even from the same company. Each company has it's own rules of how much life insurance someone can get. You can get quotes from multiple companies and have life insurance policies issued simultaneously from different companies. You should work with an insurance agent that has access to multiple insurance companies and can advise you what requirements each company has, and the limits they are willing to issue for life insurance.