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Why is it so important to estimate cost and benefit of taking insurance policy?
Wiki User
∙ 9y ago
You are to compare the total amount of premias you will be paying during the tenure of the policy and the projected returns as has been promised by the Insurance Company and to assess how much it would be profitable for you to take the particular insurance policy.
Wiki User
∙ 9y ago
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It is not important to have a life insurance policy.?
It is not important to have a life insurance policy.
Does homeowners insurance pay off your mortgage if one of the homeowners dies?
No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.
What can be added to an insurance policy to allowed the insured to receive a higher benefit?
Double indemnity can be added to an insurance policy to allow the insured to receive a higher benefit.
What can be added to an insurance policy to allow the insured to receive a higher benefit-?
Double indemnity can be added to an insurance policy to allow the insured to receive a higher benefit.
What is a simplified issue insurance policy?
The simplified issue insurance policy is usually a policy that asks few or no medical questions. If it is a life policy the death benefit will be modified. The full face amount of the policy will not be paid until the policy has been enforced for two years. Depending on the terms of the policy the death benefit prior to two years may be a return of premium or a graduated benefit payment. With these types of policies it is important to read the fine print.
What happens when you out live life insurance policy?
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.
What is the difference between health insurance policy and Critical illness policy?
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.
What can be added to an insurance policy to allow the insurance to receive a higher benefit?
double indemnity. -Chrly
Can you get money from your life insurance policy?
You can get money from life insurance in the form of maturity benefit and death benefit (the later being paid to the nominee).
Do you lose your death benefit on an endowment life insurance policy if you live until the endowment and cash it in?
If you cash in the policy then yes it will not pay the death benefit because you have cancelled the policy.
Can you out live a life insurance policy?
Yes, you can out live your Insurance Policy. When the amount of the premium paid equals the face amount of the policy (the death benefit), the policy matures and you get all your money back.
What is the benefit of conversion on a term life ins?
Conversion of a term life policy is a right granted to the insured which allows you to convert a term life insurance policy into a permanent life insurance policy without having to take another exam. The permanent policy offers guaranteed level premiums and a level death benefit for the rest of your life. Conversion privileges are very important if you are ill and otherwise not insurable.
