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Answered 2012-08-02 05:35:19

The basic difference between a renewable term insurance policy and a fixed term insurance policy is that in the former case premium is payable as per mode chosen for till particular period, whereas in fixed term insurance policy premium has been paid on single or one time basis for a fixed period. However there is no deviation from the basic principle of whole life policy wherein no amount is paid on maturity, only when any eventuality arises during the policy period, the entire sum assured amount is payable by the Insurance Company to the nominee of the deceased person.

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Basically both are same. Even technically they are called insurance policy bonds also.


The difference between term life insurance and whole life insurance is that a term policy covers the insured for a "term of years" whereas a whole insurance policy covers the insured for the entire life period.


The insurance policy is the product you have purchased, it has lots of definitions, clauses and limitations. The insurance certificate is issued to you so that you can prove to a third party (eg the police if it is for auto insurance) that you have a valid insurance policy.


the difference between a proposer and the insured is that a proposer is a person or an entity who is seeking insurance and an insuerd is someone or an entity covered by an insurance policy


There is no difference. These are just two different terms referring to the same thing.


The difference between whole and life term insurance is that a term policy is life insurance only whereas the whole insurance combines a term policy and a investment component so one can build cash value and borrow against it.



The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a covered loss. That which is covered by the policy is set forth in the insurance policy.


A Marine Insurance Policy is the actual contract of insurance between the insurer and the insured. Most of these policies are what is being referred to a Open Marine policies which means that the policy covers many shipments under one policy. An insurance certificate is issued for a particular shipment that the insured declares under the Open policy. The insured does not issue a policy for each individual shipment.


The Subscriber is the policy holder. A member is anyone covered under an insurance plan.


If I knew the difference of an H3 and H5 I would not be asking the question.


The Subscriber is the policy holder. A member is anyone covered under an insurance plan


They are both the same thing. They cover your personal belongings and liabilty protection.


The diiference between landlord & renters insurance is that landlord insurance is a policy that covers property owner from financial losses with their property.Renters insurance is policy that cover the renter from financial losses or personal items.


A graded benefit life insurance plan is offered when the customer has an extensive health issues history. The difference between the graded life insurance and the level life insurance policy is that graded plan will pay less than the face amount of the policy in the first two policy years if the insured dies before the third policy year. Usually in the first two policy years the benefit paid equals the amount of insurance premiums paid plus a %.


Conditionally renewable policy grants the insurer a limited right to refuse to renew a health insurance coverage at the end of a premium payment period.


A Health Insurance policy is a reimbursement of the medical expenses. Well Critical illness insurance is a benefit policy. Under a benefit policy upon the occurrence of an event, the insurance company pays the policyholder a lump sum amount. Under a Critical Illness policy, if the insured is diagnosed with any critical illness as specified in the policy.


Technically, there is no difference between medical insurance and health insurance.Even they are called mediclaim insurance policy,leading to the same ocean !


Mature. In insurance, a policy matures when its face amount becomes payable. This could occur upon the death of the insured, or in some forms of insurance such as endowments, as of a specified date.


difference between fisal and monetry policy


NO,, GAP Insurance is supposed to pay the difference between what your Auto Policy paid and any remaining portion of your loss after the Auto Insurance Policy has paid it's maximum. If No Auto Insurance Policy is in Place providing comprehensive and collision coverage then your GAP Policy is Null and Void. GAP coverage only pays in conjunction with your Auto Insurance Policy. No Auto Insurance! No Gap Payment


Term life insurance is only life coverage. When the person who is insured dies, the beneficiary receives the amount of the policy. Whole life insurance is a term life policy combined with an investment. This policy builds value.


No, generally speaking, no term life insurance policies have cash value.


An Optionally Renewable Policy is a contract of health insurance in which the insurer reserves the right to terminate the coverage at any anniversary or, in some cases, at any premium due date, but does not have the right to terminate coverage between such dates.


The will has no relationship to the insurance policy. The Policy is a contract between the insurance company and the insured and does not become a part of the estate.



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