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2013-07-01 00:57:36
2013-07-01 00:57:36

An insurance premium is the amount of money paid on a periodic basis for insurance of a given kind. The kind of insurance involved does not alter the definition of the term "premium". Therefore, a life insurance premium is an incremental amount paid for life insurance, and a non-life insurance premium is an incremental amount paid for another kind of insurance.

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Single premium life insurance is life insurance coverage in which one premium payment is made and the life insurance policy is fully paid up with no additional life insurance premium payments required.


What is the difference between voluntary life insurance and life, ad/d?


Usually the only difference between accidental death life insurance and regular life insurance is the name, although sometimes an accidental death life insurance will pay out more money if the death is accidental.


The key difference between life insurance and whole life insurance is that regular life insurance carries a fixed term while whole life insurance covers one's entire lifetime. Whole life insurance also accumulates a cash value that one can borrow money against.


That depends on a lot of factors, especially things that affect your expected life span. Your age, gender, health and lifestyle will all affect your premium. There is also a big difference between the cost for term insurance and whole life insurance.



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.


Yes, you can. It's called Single Premium Life Insurance. With single premium life insurance coverage one premium payment is made and the life insurance policy is fully paid up with no further premiums required.


Universal life insurance means you will pay the same premium until death, where as with term life insurance you will pay a certain premium for a period of time and then may or not be offered the same premium again for another term.


There isn't a real difference between life annuity and an insurance annuity. Both are a form of life insurance and deal with the same issues. I would go with either one.



explain flexible premium multifunded life ins.



Whole life insurance is less flexible then universal life insurance when it comes to premiums and payouts.


The difference between indirect and direct quote life insurance is that the insurance level will differ. Direct is when someone dies, indirect involves other factors.


The face value is what your beneficiaries will collect. The cash value is the excess of your premium payments over the cost of the insurance. Click here for more about life insurance cash value.


Some Insurance companies that offer single premium whole life insurance are K&K Insurance, MetLife and Jackson National Life. Others are Mutual of Omaha or AXA Insurance.


One can obtain premium whole life insurance through their current insurance company. Several companies such as TD Insurance and BMO Insurance, offer great rates.


Life insurance producer can solicit and sell insurance. A life insurance advisor, cannot. An advisor can only give advice but not sell insurance.


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.


Whole life insurance delivers coverage for the lifetime of the policy holder. It guarantees a fixed premium which can build cash value (which usually cannot be withdrawn without cashing the policy out). Term life insurance guarantees a fixed premium for a shorter period of time, and builds a better and more usuable cash value than whole life. At the end of the term policy the holder must either sign up for another term or forfeit coverage.



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.


Life insurance premium expense when the corporation is the beneficiary is a permanent difference. It is deducted for book income but not for taxable income. And the proceeds received on such policies result in a book gain but are not taxable.


Indeterminate premium life insurance is a type of whole life insurance that specifies two premium rates: a guaranteed maximum, and a lower rate you actually pay. The lower premium level is for a set period of time. Then the company establishes a new rate that may be higher or lower than the initial premium. But your premium can never be more than the guaranteed maximum.



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