123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Learn About Life Insurance Basics

Profile Picture
By Author: shopforlifeinsurance
Total Articles: 3
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Uncertainty is the only certainty in human life. More often than not, the bolt from the blue in the form of death of an earning member of the family leaves his nearest kith and kin in dire straits especially if adequate financial back up is not in place. Today, planning for one’s after death expenses like funeral expenses and family support is being provided by many finance management agencies and companies. Amongst them, life insurance plans and coverage have a world wide market and has become more and more popular during the recent times of modern era.

In simple terms, insurance can best be described as a contract between the insurer and the “carrier” or the company insuring the person. In case of untoward death when the policy is in force, the insurer pays a tax free amount that has been agreed upon signing the contract. So, while signing the contract, you will need to specify one or more beneficiaries to receive the money. A good life insurance would do more than to just replace the loss of money due to the demise of the bread winner. It should be able to cover the funeral costs, taxes, children’s education, ...
... probate costs, house keeping costs etc, to name a few.

On broad terms, life insurance is generally of two types, namely permanent life policies or term life policies. Permanent life policies cover you for life, as long as the policy is in force. To begin with, the premiums for this kind of whole life policies are higher and keep on diminishing in the long run. Also there is an accumulated cash benefits on your policy, on which you can borrow or “cash in” by surrendering the policy if there is a need to cover retirement or child’s education. However, most financial experts rate this feature as the secondary purpose of the life policy.

On the other hand term life policies are for specific range of years like 5, 10, 15 or so and if death occurs before the term, the benefits are paid to the nominees specified in the life insurance contract. At the end of the term, the coverage ceases, unless it is renewed. It is sometimes referred to as pure insurance as major portion of your premiums are added to the coverage. So, if you are looking for the maximum benefit for your dollar, term life policies should be the way to go!

Compare multiple life insurance quotes from top insurers for free and get the cheapest coverage. Save up to $600 a year.

Total Views: 249Word Count: 424See All articles From Author

Add Comment

Business Articles

1. Lucintel Forecasts The Global Wall-mounted Ac Ev Charger Market To Grow With A Cagr Of 22.4% From 2025 To 2031
Author: Lucintel LLC

2. Technology Landscape, Trends And Opportunities In Global 3d Printing Photopolymer Market
Author: Lucintel LLC

3. Lucintel Forecasts The Global Smart Home Market To Reach $372 Billion By 2030
Author: Lucintel LLC

4. Second Marriage Matrimonial – Verified Matches & Free Registration
Author: Truelymarry

5. Core: Leading The Way In Managed It Services For Businesses Across London
Author: IT Management

6. The Role And Function Of A Collection Agency
Author: Bennett Carter

7. Understanding Debt Collection Agencies: What They Do And How They Affect Consumers
Author: Bennett Carter

8. How To Use An Smm Panel Effectively For Fast Social Media Growth
Author: Smm Panel

9. Essential Tips For Beginners And The Power Of Professional Editing
Author: Sam

10. How To Improve Field Staff Efficiency With Geolocation Tools
Author: TrackHr App

11. Building An Effective Energy Management System
Author: Jane

12. Internal Auditor Training: The Key To Effective Risk Management And Compliance
Author: Sqccertification

13. Why Accurate Accounting In Property Management Is The Key To Higher Roi
Author: Harsh Vardhan

14. Kaal Sarp Puja In Trimbakeshwar – Benefits, Process & Trusted Pandit Contact
Author: Pandit Milind Guruji

15. Data Entry Vs. Data Processing: What’s The Difference And Why It Matters
Author: Allianze BPO

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: