Insurance
Life Insurance

What does it mean to have 1000 dollars in basic life insurance?

197198199

Top Answer
User Avatar
Wiki User
2004-08-29 12:25:33
2004-08-29 12:25:33

This is why people need to have an agent they can talk to and trust. The agent can answer this question immediately. If you own a life policy that has the word "Accident" or "Accidental" in it's name, that means it will ONLY pay if you die in an accident. The much smaller basic coverage (the one more likely to pay) probably covers all perils, but ask your agent or refer to the policy for details. The coverage is specifically detailed there in writing.

1
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Related Questions

User Avatar

The cost of life insurance typically depends on the age and health of the insured. It can range anywhere from 350 dollars per year to 1000 dollars per year.

User Avatar

There are, in fact, a wide variety of "basic" principles of life insurance. Some of these principles include risk management, risk pooling, and human life value.

User Avatar

The cost to get no medical exam life insurance is about $500-1000 a year.

User Avatar

The basic insurance premium for the members of FEGLI, the Federal Employees' Group Life Insurance Program is 3%, which can be higher or lower depending on your health.

User Avatar

Industrial life insurance is insurance sold to individuals that cannot afford large policies, usually in amounts such as $1000. The premiums are collected weekly usually at the policyowner

User Avatar

The average cost of basic life insurance will vary depending on things such as a person's age, the type of policy, the coverage selected and the country of location. One can usually get a very basis life insurance policy for as low as $15 to $20 per month.

User Avatar

There is no basic payout. The death benefit is whatever the insured chose to insure himself for.

User Avatar

The basic difference between long term life insurance and whole life insurance is that a term policy is life coverage only and this is also considered an advantage. One can buy a long term life insurance for periods of one year to 30 years, whereas whole life insurance is a combination of a term policy with an investment component.

User Avatar

Term life insurance is basically a basic cheap insurance plan. You have to be under 80 to easily get this insurance. Some companies quotes cost a small fee but others are free.

User Avatar

Term life insurance coverage varies from policy to policy. For example, a 5 year term life plan with State Farm would cost under 16 dollars a month for 50,000 dollars in coverage.

User Avatar

It depends on your age and the length of the term. Try an online life insurance calculator.

User Avatar

You can buy any amount of life insurance that you want (and that you can afford). Policies can be as small as $500 or as large as many millions of dollars.

User Avatar

A whole life insurance provides coverage for an individual's whole life. A savings components which builds overtime and can be used for wealth accumulation. Whole life is the most basic form of cash value insurance.

User Avatar

This really depends on what type of life insurance you have. You can be paying anywhere between ten dollars a month all the way up to a few thousand dollars a month. The most average is ten dollars though.

User Avatar

Term insurance without any optional rider is considered to be the most basic type of life insurance. You purchase protection for a certain amount of time, after which the policy terminates. You have a fixed premium that does not change until the end of your term policy. You then have the option to terminate, or convert the term to a permanent form of life insurance. Term Assurance Policy is the basic life insurance policy.This is the cheapest pure life risk plan. On maturity, no amount will be paid to the policy holder. On any eventuality of the policy holder during policy term, sum assured amount will be paid to the nominee.

User Avatar

A term life insurance policy is a basic protection that covers expenses in case of an accidental death, it will sometimes cover debilitating injuries, but only briefly. A universal insurance policy covers a wider category and can sometimes be cashed in.

User Avatar

Term life insurance is an insurance one would buy if they are looking to insure themselves for a specific term such as 20 years. This is a relatively low cost and basic insurance plan. Premium term life insurance is when one insures their life for a longer period, such as 30 years, and if they do not die in that time, the premiums that were paid are returned back to them.

User Avatar

Here are some topics for Life Insurance: What is life insurance? How does life insurance work? What are the different types of life insurance? What are the top life insurance companies? How do I get the best price on life insurance? What is a beneficiary? How can I save money on life insurance?

User Avatar

When choosing the right life insurance coverage, you consider what your goals are for buying life insurance, what are you trying to accomplish? Then, consider how much coverage you need, what you can afford, how long you need coverage, and compare rate quotes from multiple insurers. Also, review the financial ratings to find a safe, secure insurance company that can pay their claims. Make sure you compare permanent life insurance to term life insurance. These are the two basic types of life insurance.

User Avatar

Aetna offers several different types of life insurance policies which would include, basic, supplemental, dependent and accidental death. There is also supplemental accidental death and supplemental dependent life insurance to choose from.

User Avatar

The average life insurance policy is worth around 250,000 dollars to the survivor. Many people have policies that pay out even higher.

User Avatar

The three basic types of insurance that Allstate offers are Auto, Homeowners, and Life insurance. However, the company offers several other various types of insurance including but not limited to: Business insurance, motorcycle insurance, and flood insurance.

User Avatar

Personal life insurance proceeds are generally paid out free of income taxes as long as the premiums were paid with after-tax dollars. But if a business paid the premiums and deducted the premiums as an operating expense, then the life insurance proceeds would be taxable to the beneficiary.


Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.