One of the musts in ur insurance kitty is term plan.
y??
They offer u high insurance value at little cost..example : insured of Rs 20 Lakhs (as we had discussed in previous post) costs u only 5722 Rs per annum, while a money back plan costs u a whopping 67000.
So y is the term plan so cheap..the flip side is..if u happen to survive the insured period (say 25 yrs), u dont get a dime back.that means an amount of (5722*25) 1,43,000 goes down the drain.
So shud u go for it?????????? Ofcourse..there is no doubt about it..It is mandatory..the low costs outweigh the negatives.
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The French term "assurance vie" in English means life insurance. It is basically the same as the American version of life insurance. Many large companies or wealthy individuals in France invest much of their money into assurance vie to pay less in taxes.
Term life insurance will protect the policyholder should his or her life end unexpectedly. Term life insurance is often the cheapest of all available insurance. Usually, term life insurance can be converted to whole life insurance during the term. Whole life insurance will never expire and the rates will remain constant throughout the policyholder's life.
The 3 types of life insurance policies are :-1. Endowment.2. Whole Life.3. Term Assurance.
Assurance is a feeling you give someone when they are confident in you. Insurance is a financial instrument that protects you if you experience a loss.
Insurance can be protection on your house, car, pet, ect. Assurance is like telling someone they can do it or they'll be ok.
Level term assurance is a life insurance policy in which premiums and the eventual payout are chosen initially and cannot change. The benefit of such a policy is its reliability; one knows how much they must pay and how much their recipient will receive. No surprises.
Term insurance offers flexibility of terms, from 1-30 years of coverage.Term insurance offers the most coverage at the lowest cost for young people.Term insurance provides coverage that can fit almost any budget.Term insurance may offer rates and coverage that remain level (the same) for the entire term of the policy.AnswerIf you're looking for a simple insurance policy to cover your family for a temporary period, you should consider term insurance. If you have dependents, a term life insurance policy would ensure coverage for their financial needs if you were to die unexpectedly. Many people buy term life insurance so that their families can use the death benefits to offset loans, mortgages, etc. Some use it to provide a college fund for their growing children. The elderly may use it to provide coverage for their surviving spouse. Additional answerThe original question asked whether you should buy term assurance. This may imply assurance of any sort, or whether term is better than whole-of-life. The advantage of the latter is that it is there for as long as you need it, whereas someone might take out say 20 year term assurance and then find in the 20th year that actually they want it for longer, but they've just had a serious illness and can't get more assurance now.
There are several sites that offer auto insurance information and reviews. Consumer Reports has information regarding each insurance agency including Assurance.
Well, if it is a Term Assurance Policy, there is no maturity benefit. However, in Endowment Policy, you are of course entitled to maturity benefit.
In Whole life policy, insurance claims are entertained in case of any eventuality of the policy holder during the tenure of the policy period only, like term assurance policy.