Endowment Insurance policy is life insurance. Life insurance is very important to have, especially if you have a family or kids. If anything should happen to you, you would want to know that your family could live comfortably without your income.
Variable universal life insurance is not an account. It is a policy that invests in separate accounts in an attempt to earn higher returns than a fixed policy. A variable universal life insurance policy can be converted into a different type of life insurance policy but not a different kind of account.
The policy-owner will pay the premiums for a specific number of years, maybe 20 or 30, while still getting the guaranteed face amount of the policy upon death. The policy-owner may also set up the policy to be paid off completely by a certain age, such as 65. This type of policy is usually more expensive because the insurance company has to be able to build up the cash value in order to fund the policy.
A life insurance policy may have cash value if it is a "whole life insurance policy". This is a kind of life insurance, distinguished from "term" life insurance, that accumulates cash value for the period that it is in force and premiums are paid. Each premium paid goes to pay the cost of "indemnity" (the death benefit), the administrative costs incurred by the insurer, with all or a portion of the remainder going into the cash value. The cash value element of the policy is SOMEWHAT like a savings account within the policy. It grows slowly at first but faster as the policy matures. When a sufficient amount of cash value has accumulated, policy loans from the cash value are usually allowed per the terms of the policy. The loans bear interest at a rate provided for by the policy. Term life insurance does not accumulate cash value.
There are too many variables to give you an "on average". How old is your Mom? How much insurance? What kind of insurance? How is her health? And most importantly, will she sign an application? I can help. 4LifeGuild
Apparently I took out a life insurance policy with Prudential which use's my annual payment to cover some sort of loan. I try calling them but no one seems to know what I am talking about. I tried the agent, he told me to call the company, they told me I took a loan back in 1989, however I never received any money, but have noticed the payment is what seems to be bringing this graduated payment down, so now I am really confused, can you help me?
They can only give that kind of information to the owner of the policy
Term Life Insurance
A graded life insurance policy is a kind of whole life policy. Unlike the typical kind of whole life, a graded policy starts out with lower premiums, which increase, usually yearly. Therefore, in the early years of this kind of policy, they premiums are lower than in a customary whole life policy. This kind of policy is sometimes called a "graduated premium" whole life policy. Many life insurance companies sell this kind of policy, but this is not a forum in which to recommend one. You should go to a licensed life and health insurance agent or broker who can assess your needs and assist in finding an appropriate insurer. Be sure that the insurer is authorized (licensed) to conduct business in your state.
It depends on how much insurance you want and what kind of policy you are taking. For ex: If it is a pure term insurance policy, a person of that age pays approximately Rs. 15,000/- per year for a 50 lakh coverage while if you want an endowment policy where your invested amount will be returned if you outlive the policy term, for 15,000 per year you may get only around 5 lakhs or so coverage. There is no one shot rule based on age. The amount depends on how long your policy is, the type and the amount of coverage you want.
Some do, some do not, You just need to read your policy language or ask your insurance agent what kind of policy you bought.
A property is not a contract or a business. A liability insurance policy is a kind of contract but not a business. the answer is b...
It depends on your state, line of business (kind of policy) and the reason. Your insurance policy will tell you, and if you aren't sure, contact your agent.
Usually flood insurance is a separate policy, for mobile homes or any other kind of home. Check the details of your policy, but normally flood insurance requires a separate policy or rider.
Hey its just need your policy number.. With your policy number you can trace any kind of policy .... so if you want information for your old policy get your insurance company and give them your policy number they will surly help you....
It may, it really just depends on what kind of insurance policy you bought and whether your policy is a Farm and Ranch type policy or if you have the barn scheduled as a covered structure or not.You should contact your insurer or your insurance agent for clarification of your policy coverage.
ABSOLUTELY NOT. You cannot insure a vehicle that you do not own on your insurance policy no matter what kind of coverage you have. Your insurance policy will not pay anything even if you have added the vehicle on your policy without their knowledge.
Liability Insurance