What is ordinary life insurance?
Actually, whole life insurance policy other than endowment,single premia or ulip policy can be called ordinary life insurance policy.
Return-of-premium life insurance is like an ordinary life insurance policy, but payments made on premiums are returned to the insured individual if the policy ends and they are still alive. Thus, return-of-premium life insurance policies do not punish one for outliving their life insurance. The average such policy might cost 25% to 50% more in premiums, compared to an ordinary life insurance policy.
Modified Life Insurance is Ordinary Life Insurance under which premiums are calculated so that the first few years of premiums are less than normal, and subsequent premiums in later years are higher than normal. This type of coverage may also be called Graded Premium Whole Life Insurance under which insurance premiums are lower than normal for the first few years, then gradually increase for the next several years until they become level for the remainder…
Life insurance is a more general concept that may refer to either whole life insurance or term life insurance. Whole life insurance gathers value the longer you have it, whereas Term life insurance does not obtain any value that you may use before you die. Term life insurance only pays out when you die.
Life insurance may need to cover costs like funeral and burial expenses, dependents, and existing debts, so account for those when making a decision. A common goal is to find a plan that provides five to ten times one's annual salary. The choice between whole insurance and term insurance is debatable, though it can be argued that term insurance is better as insurance; whole insurance is like an investment that is inferior to ordinary investment…
Not at all as long as you get to the "right" life insurance company. There are a number of life insurance companies that specialize in depression life insurance, bipolar life insurance, anxiety life insurance. The key is to work with an impaired risk life insurance expert who can direct you to the correct company based on your specific circumstances.
Direct life insurance is offered through several mediums - commericals with a phone number to call, through the mail, and on the internet. There are several life insurance companies that provide direct life insurance through any one or all of the mediums listed above. Some direct life insurance writers include the following: RBC Insurance, HSBC Insurance, Liberty Life Insurance, Garden State Life, Colonial Penn, Gerber Life, Stonebridge Life Insurance and Guaranty Trust Life Insurance.
Prudential offers a variety of life insurance policies. Some of the different life insurance policies that they offer are Term Life Insurance, Universal Life Insurance, Variable Life Insurance&as well as Survivorship Life Insurance. bAlong with these different types of policies they also offer retirement planning, annuities and long term care insurance.
Universal Life Insurance is the one type of life insurance. This is a flexible version of life insurance where you get the savings element of whole life. Universal Life Insurance policies is the combination of death benefits with a savings component or cash value that is reinvested and tax deferred.
Some required provisions in a life insurance contract are appended per seriatim :-1) It's superior to an ordinary savings plan. 2) Insurance encourages and forces thrift. 3) East settlement and protection against creditors. 4) Administering the legacy for beneficiaries. 5) Ready marketability and suitability for quick borrowing.
Google the types of life insurance first. You need to learn a little about life insurance. The terms you are using and spelling are weird. Most people use cash value insurance to describe a type of life insurance. I do not really understand what you mean but, from my experience, I can only guess that by life insurance you mean term life insurance. If that is the case, then, in most situations, term life insurance…