Life Insurance

What Life Insurance policy gives the highest face value for a given premium?


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2011-07-24 22:51:17
2011-07-24 22:51:17

This is not a question that can be answered in this forum. Life insurance companies will have different rates based on a persons situation. I recommend you go to an independent insurance agent that carries several top life insurance companies They can quote prices for several companies and with their advice you can choose the one that best meets your needs. If there are medical issues or even weight problems you may not qualify for the best rates the company offers. Some companies and agents quote the Ultra Preferred rates to get a client in the door even though most people fit into the standard rate tier. Get someone you think you can trust to give you accurate rates and not try to pull the bait and switch tricks.

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Premium is an amount to be paid for an insurance policy or something given as an award.

A no claims discount is given by auto insurance companies. If a policy owner files no claims for usually 5 years, a discount is given towards the insurance premium.

When application is made for an insurance policy, the applicant is normally given a choice of the frequency of premium payments. Generally, the choices are monthly, quarterly, semi-annually or annually. The choices of frequency often vary with the kind of insurance involved.

An insurance premium is the amount of money paid on a periodic basis for insurance of a given kind. The kind of insurance involved does not alter the definition of the term "premium". Therefore, a life insurance premium is an incremental amount paid for life insurance, and a non-life insurance premium is an incremental amount paid for another kind of insurance.

Generally Free look provision in a health policy is given for 15 days. If you are not satisfied with the provisions of the policy bond, you may ask for cancellation of the policy to the Insurance Co. within the aforesaid time. The Insurance Co. is bound to return you back the premium minus few incidental charges.

Cannot be answered here - that information should appear in the contract language of the policy. Generally, however, the insurance agent will take a deposit premium for the anticipated first month's premium at the time that the application for coverage is taken. The application is essentially an offer to purchase insurance. The insurance company than analyzes the answers given on the application application in accordance with its underwriting guidelines. Those guidelines lay out the types of risks that the insurer is willing to accept and for what price (premium). If a policy is issued (because the insurer is willing to accept the risk as identified in the application), a policy will be issued. The front page of the policy is called the Declarations, and will show a summary of the coverage, as well as the due date and amount of subsequent premium payments. If the insurer decides not to issue a policy for a reason that is not prohibited by law, the deposit premium will be returned.

Calculate the total cost of a fire insurance premium for a building and contents given the following. (UseTable 20.3.)Rating of area Class Building Contents Total premium cost 3 B $90,000 $40,000 $

If you have applied for insurance and paid a premium, you are essentially insured if you have been given a binder. In life insurance if the applicant dies before the policy can be issued, you would file a claim as if it had. The claim would be processed and if the applicant is found to be insurable had he still been alive, the claim would proceed as if he already had a policy in force before he died.

By looking at any GAP Insurance Policy you purchased and looking at the dates to see if it is in effect. If you bought GAP Insurance, you would have been given a copy of the bogus GAP insurance Policy.

Grace period is a provision given to policyholder to pay premium in next 30 days.When he fails to pay it before the due date, this time period of 30 days is called grace period.

the house is paid off and given to the beneficiary

The insurance company did not let you get a policy without collision. You chose the coverages of your policy and paid a premium for that coverage. As you had no collision coverage on your policy, you paid a lower premium for the coverage you chose. There is no way that the company will pay for damages done in a collision when you chose to not have collision coverage. An insurance policy is a legal binding contract between you and the insurance company. End of story. Your fault. Take responsibility for your actions.

The insurance application is processed at various stages including underwriter who assesses the proposer's financial capability to continue the policy and other parameters, before it is cleared for payment of premia and is given the shape of insurance policy bond.

Advantage of Ulip 1. low charges premium (only 3 years we can stop premium paying but life cover ll continue till end of the term. 3. We can switch our fund depends upon the market trends benefit 4.Double benefit ie, if a policy holder dyied on first year of the policy, immdly sumassured (lupsum money which mention in the policy)ll be given and that policy ll continue, insurance company ll pay the premium behalf of the policy holder, end of the term again fund value ll be given to policy holder. 5.transperent fund value 6. more than seven funds are there if you have any doubts in ulip pls contact me - 9500452952 coimbatore

Yes, some states regulate the amount of coverage on a given policy.

The best way to find the cheapest home owners insurance policy is to compare rates given by different companies. Policies may have different coverage amounts.

Most insurance cards do not have a group name on them, but they do have a group number. The group number is a number given to employer to identify the employee health insurance policy.

"Vanishing premium" was a technique used some years aho by life insurance sales people to sell whole life insurance. That is the kind of life insurance that builds cash value within the policy. Stated otherwise, a part of each premium payment goes to cover the cost of the protection (the essence of insurance) and a part goes into what can be likened to a savings account. There are significant differences from a savings account, but it is a useful analogy for this discussion. When the policy was sold, the salesperson would project that the cash value would increase at a rate commensurate with a future rate of return based upon insurance company performance, or the investment into which the savings element of the insurance premium was being invested (such as a mutual fund). On that theory, and based upon the projection, it was represented that at a given point in the future, before the projected maturity date of the policy, premiums would be fully paid and no further premiums would be due. This representation did not always mirror the actual return that the insurer got on its investments. If it did not, cash value would not accumulate as fast as projected and the policy would not attain "paid up" status as represented at the time of sale. In fact, if the investments that the insurer made lost money, it might happen that the insured would have to pay additional amounts in order to keep the insurance policy in force. To make a very long story short(er), the concept of "vanishing premium" was determined to essentially be fraudulent. Many lawsuits were spawned against many insurance companies, agents and brokers for the misrepresentations that resulted in financial losses to the insurance purchasers.

It may and it may not. It depends on the definitions of an "insured" driver under the terms of your insurance policy and the type of insurance policy you bought. Most standard policies will extend coverage to certain drivers you have given permissive use while others such as low cost "Named Driver" policies extend coverage to no one other than those named on the policy. Contact your insurance agent if you need assistance with your policy language.

A term policy is a form of life insurance that is the least expensive method of insuring that if one dies during the term, the money will be given to a beneficiary.

Normally, life insurance benefits are tax free, but you may want to consult with a tax specialist.

A claim can be denied for a number of reasons, but three examples are" 1. The policy was not in force at the time of the loss. This can occur if the policy never went into force (such as due to the first premium not having been paid), or because it lapsed because subsequent premiums were not paid. 2. The terms of the policy did not cover the type of loss involved. Insurance policies are issued to provide protection for specified categories of risks, If the loss did not fall within the ambit of coverage, it would be denied. Even if arguably within the scope of coverage, an exception or an exclusion to coverage, as stated in the policy, may apply. 3. Misrepresentation of a material fact when applying for the insurance. Insurers rely upon the truth of the answers given by the applicant when issuing a policy. If a loss occurs and the insurer discovers that there had been a material misrepresentation of fact when applying for the policy, coverage could be denied. A misrepresentation is generally held to be material if, had a truthful answer been given to the question, the insurer would have not issued the policy or, if it would have, only at a higher premium.

Insurance does not cover pre-existing ailments. Medical Insurance is only available to individuals who pass a health screening and are deemed reasonably fit to be given an insurance policy.

Typically, once the application is completed and an initial premium is paid, the application is sent to "underwriting". That is the department within the insurer that decides whether the characteristics, physical attributes, health history, and other factors present a risk that the insurance company wishes to assume, and for what premium. When the application is taken, the proposed insured is generally given a "binder". This is essentially a policy of temporary insurance which stays in force until the underwriting process has been completed (normally about 30 days). If the insurer decides to issue a policy, the agent is typically notified, sent a copy of the policy and he/she delivers it to the insured. As indicated, all of this normally occurs within about 30 days barring further investigation that the insurer may have to do during the underwriting process.

That depends upon the type of policy it is. Term insurance has no value once the term expires. Whole life insurance has value, and can be cashed in. Read the terms of the policy. Given that the policy in question was found, and therefore was probably forgotten before it was found, I doubt that is has value - but check and see.

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