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What is basic life insurance?


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Answered 2012-11-01 15:50:30

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.

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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.


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.



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.


What is the basic purpose of insurance


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


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.


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.


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.


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.


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.


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.


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.


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.


You do not need a will for life insurance. I don't have a will, but I have life insurance. ;)


Generally there are 3 types of of life insurance policies:Whole Life InsuranceTerm Life InsuranceUniversal Life Insurance


AAA Life Insurance offers three main types of life insurance policy these include Whole Life insurance, Term Life Insurance and Universal Life Insurance.


The following are the types of life insurance lawyers in wichita •Life Insurance for Smokers •Life Insurance for NonSmokers •Business Life Insurance •Universal Life Insurance


Life gives you a lot of choices—especially when you're looking for ways to help protect the people you love and the lifestyle you've established. Whether you're buying a home, starting a family, or launching a business, basic insurance protection can be the financial cornerstone for your life.


When getting a quote for life insurance you need to consider what type of life insurance one requires. Usually for a quote one only needs the basic information about themselves, name, date of birth, health, weight.


Life Insurance chiefly is a risk management tool meant to offer financial protection to your dependents in the unfortunate event of your death. If you are adequately insured, your life insurance should enable your dependents (spouse, children, parents( to maintain their current life style and pursue the life goals-till such a time as they are in a position to set up an alternative income stream by themselves. That's the basic purpose of life insurance.


Banner Life Insurance offer life insurance services. They offer Term Life Insurance which covers a person for a specific time and Universal Life Insurance which covers one for life.


The basic difference is that a term policy pays upon death or it expires when the term is reached. Whole life insurance gains value like an investment.


There is an insurance company called Federal Life Insurance Company.


Anyone can have life insurance. So actors would have life insurance.



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