What is life insurance?
815576
The problem with life insurance is that people don't fully understand it, so they believe everything the life insurance agent says.\n\nLife insurance is suppose to be use as a protection of income, not as a tool to use for future goals. Reason why many life insurance companies sell cash value products is because they are more profitable than to selling term.\n\nThe problem with cash value is that when you die, your beneficiary will get the death benefit, but not the cash value. If you live to age 98, you are no longer covered, but you get the cash value. How many people do you know that actually live to age 98? Of those people at age 98 or above, how many are actually sane enough to know they even had life insurance in the first place?\n\nYou are correct that investments should be kept separate from life insurance, but the insurance agent is not going to show the client why it should be kept separate. Buying term and investing the difference is the most cost effective thing a person can do. Check out this blog about the cost between term and whole life: http://obe231.blogspot.com\n\nWhen people read that blog, buying term and investing the difference would make more sense.
755688
There are three types of insurance policies.\nTerm - No investment (hence very cheap premium and good life cover)\nEndowment - Investment in traditional markets ( you get 6-7% return per year and bonuses)\nUnit Linked - They invest in stocks and hence can give higher or lower return depending on market conditon..\n\n\nIf you are married & have children, then look at insurance as protection and look more at the Sum INsurred then at the returns.\n\nIf you are bachelor and live alone, why invest in insurance.. the whole world of mutual funds, stocks is for you:)
782135
A rider is an endorsement to a life insurance policy that either adds additional coverage or limit's the life insurance company's liability for payment of benefits under certain conditions.\n\nRiders can provide more coverage to you, or reduce your coverage in certain situations.\n\nA terminal illness rider provides a portion of the life insurance policy death benefit paid to the insured upon the insured being diagnosed as having a terminal illness that will result in death within one year.\n\nBasically, if you find out you are dying (are expected to die within one year) due to a terminal illness, you can get part of your life insurance policy death benefit paid to you before you die.\n\nThis can help you pay for medical expenses, and other things you may want to do before you die.\n\nThis may be a good rider to have on your policy, if you feel the specific cost associated with this rider is a good value for you.\n\nYou want to find out exactly how much you are paying per year for this rider, and how much you will receive if you are found to have a terminal illness.\n\nYou may find it's a good value. On the other hand, you may feel this is something you can live without having on your life insurance policy.\n\nmany times riders offer additional coverage that very few people ever benefit from having on their policy.\n\nI hope that helps you. Best of luck to you.
556320
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.
393187
Term insurance is strictly insurance.  If you are looking to cover certain liabilities that will be paid off in a set number of years, then term life insurance is usually the answer.  If you are looking for permanent coverage, then whole or universal life insurance is usually the answer. This answer may sound fuzzy, but in order to give professional suggestions the best thing is to meet with an advisor that can go over your current financial situation to determine exactly how much coverage you need and what type is best.  Here is directory of local advisors: http://www.insuremylife.org\nAlso here is more info on how Permanent life insurance works: http://www.findlocalinsurance.com/permlife.html
659394
In the U.S. a life insurance death benefit passes to the beneficiary without tax.  However, the value of the policy is included in the estate of the deceased and is taxed via probate process.
975442
LIFE insurance companies in india -\n\nPublic \nLife Insurance Corporation of India \n\nPrivate \nHDFC Standard Life Insurance \nMax New York Life Insurance \nICICI Prudential Life Insurance \nOm Kotak Mahindra Life Insurance \nBirla Sun-Life Insurance \nTATA AIG Life Insurance \nSBI Life Insurance \nING Vysya Life Insurance \nBajaj Allianz Life Insurance \nMetLife Insurance \nReliance Life \nBharti AXA \nAviva Life Insurance \nSahara India Insurance \nShriram Life Insurance
137362
Here is some info on life insurance: http://www.insuremylife.org/info.html
88412
Probably the best benefit of life insurance is burials are expensive, and with life insurance, when you expire (die), your family will have enough money to bury you, pay off your bills, etc. (Depending on how much of a policy you get.) You can get life insurance policies through several different companies. Most of the time employers offer it with their health insurance policies. The best policy will vary with your individual needs. If you consult an insurance agent, they can better assist you with your particular needs. To check into it, visit these websites:\n\nwww.aigtermlife.com\nwww.insureapp.com\nwww.1stquote.com/company-list.htm\nwww.accuquote.com
826001
Don't let anybody sell you whole life insurance no matter how much they try to talk it up to you, it is a waste of money.\n\nWhole life is basically a life insurance policy that lets you borrow money from the policy amount, like a Home Equity Line of Credit would.\n\n"Next, you should only look for one type of coverage: Term life insurance. Do not-I repeat, do not-buy any other type of life insurance. There's another kind, called "cash value," which is a colossal waste of money, if you ask me. These cash value policies come in a variety of flavors, including whole life, universal life, and variable life. Just say no to anyone who tries to talk you into one of these plans. They can be more than 10 times as expensive as a term policy, yet you don't need any of the "extras" they come with. In fact, the big added feature of a cash value policy is that it provides an investment component. I won't go into a ton of details here other than to tell you that a life insurance policy is a lousy way to save and invest. So stick to a policy that simply provides life insurance and leave off all the expensive bells and whistles."
665100
It obviously depends on the person but whole life is the cadillac of insurance policies. Not only does it build cash value but it also has the opportunity to be a paid up policy, meaning that at some point no further premium payments have to be made, but it accumulates death benefit as the cash value grows. One distinguishing feature, as opposed to the term, is that it is permenant insurance, which the term is obviously not, as it runs out after a specific period of time.\nHope this helps, email me with any questions.\n\nerik.vincelette@metlife.com
136126
There's two different bases for the insurance.\n\nLife insurance has an inevitability built in.  You are going to die someday for certain and as long as you pay premiums and materially mistate your health or fraudulently try to collect it will pay.  Life insurers (thorugh the use of wise actuarial tables) hope that enough people live long enough to grow enough capital to eventually pay off all their claims.\n\nProperty/Casualty insurance doesn't have the same inevitability built in but is supposed to protect your assets in the unlikely case that a claimable event happens.\nIf you have several claims in a close enough time period, you become too risky to continue to insure, thus the company will cancel ("nonrenew" in the biz) your policy.\n\nSo in life insurance they know you are going to die but just don't know when.\nIn property insurance you could conceivable pay premiums and never need to make a claim.
416092
As a life insurance agent who deals with insurance day in and day out  I appreciate your frustrations from looking at thousands of insurance sites. My site\nhttp://www.smartlifeinsurancequotes.net addresses these issues.\n\nThe following are five of the most common mistakes consumers make when buying life insurance.\n\n1. Selecting term life insurance solely because it's cheap.\nShopping for life insurance by just comparing premiums is asking for trouble. You should compare company ratings to determine financial strength and policy features, such as convertibility options. While the policy’s premium is certainly a factor, ensuring that your policy matches your financial goals is more important.\n \n2. Not understanding that term life insurance is temporary.\nThat's why it's called "term" insurance -- because you buy it for a set period of time, most commonly 20 years. This is fine for a temporary need, such as insuring yourself until your mortgage is paid off or funding your children’s college expenses in the event of your premature death.\n\nA 20-year level-term life insurance policy you bought when you were 30 would expire when you're only 50. At that point, you still might need to carry insurance, but your age and health conditions might make it impossible or very expensive to do so. At least, if your policy has a convertibility option you can get coverage, it just might be down right unaffordable.\n \n3. Buying from a less-than-stable insurance company.\nDon’t be afraid to ask about an insurance company’s ratings. You can also look for an insurer’s Standard & Poor's, Moody's or A.M. Best ratings on the Internet.\n\nThere are many insurance carriers with high financial ratings (A+ or better) so you shouldn’t have to buy insurance from a lower rated company. But, keep in mind that ratings can and will change, so ratings alone shouldn’t be your only consideration.\n \n4. Buying life insurance coverage based on a set formula.\nYou may have heard that a good rule of thumb is to buy life insurance coverage equal to 10 times your annual salary or 10 times your beneficiary's annual financial need. The idea is that if your surviving beneficiary invests the life insurance proceeds in the stock market (getting an average 10 percent annual return), they'll have a steady income stream and never need to tap the investment principal.\n\nWhile this formula isn't a bad place to start, everyone has different needs, so don’t assume that 10 times your salary is what you need to carry in life insurance. The best advice here is to sit down with a knowledgeable agent that will take the time to learn about your needs.\n \n5. Failing to regularly review your policy.\nIs your former spouse still the beneficiary of your life insurance policy? Did you buy term insurance to cover you while you pay off your mortgage? If you refinanced during the latest rate drop and restarted the clock on your loan, you might also need to update your insurance term. Life definitely has a way of throwing changes your way. Just make sure your life insurance changes along with you.\n \nAlso when shopping on the internet for insurance be careful of sites that are there purely as lead generators because these sites just sell your informations. But, there are plenty of legitamte and trustful site on the internet than one can purchase insurance.\n\nYou can tell the good from the bad by taking these steps.\n1- do not put information in a from unless you actually get a real quote.\n2- look for site that have a phone number with real agents that answer the phone.\n3-If the sites says get quotes from multiple agents then the site is selling your information as a lead service.\n\nSites like http://www.smartlifeinsurancequotes.net can serve as an excellant resource to start your online life insurance shopping. They have agents that you can speak to or email. You can get quotes from over 140 companies with a robust data b
230414
Contact your local law authorities,...as I'm SURE they'd appreciate your interest in doing the right thing.  Having health insurance and a life insurance policy might not be a bad idea either.
802307
I'm not sure I understand the question.  I think you are asking why do you need life insurance?  No one wants to leave their family unprepared for the future. Planning today can protect the promise of your family's tomorrow. Following are some of the reasons why you should consider life insurance.\n\nTo Replace Lost Income.\nMost people buy life insurance as a means to replace income lost if something happens to them. Providing money for survivors is important. Life insurance is the most cost effective way to do it.\n\nTo Pay Off Debt.\nDebt can be very burdensome to your family, especially without your income available to help repay it. Life insurance can be used to pay off debt and help create more financial security for your family.\n\nLife Quotes: http://www.insureme.com/landing.aspx?Refby=614500&Type=life\n\nTake care, \nRon – InsureMe
265252
Faculative Reinsurance is an insurance industry term:  For risks on particular cases that the primary insurer does not want to 'carry' -- that primary insurance company can 'shop it' at OTHER, secondary insurance companies who DO want to accept this particular risk.  \n\nThis second insurance company is the Reinsurance provider.\n\nConsumer BENEFITS of a Life Insurance policy that has been 'placed' using Reinsurance is that, for a 'special risk' (not best health class) applicant, this person can get a GOOD offer from the primary insurer (otherwise, the good, but picky primary Life Insurance company might just decline the application).  Why is it GOOD to be accepted by a high quality, financially strong Life Insurance carrier vs. a low quality, financially weak Life Insurance carrier?  Consumers generally receive significant policy improvements from the leading carriers: eg., Mutual company policyowner advantages, Participating Dividends, Lower net cost of coverage, Term Conversion options, etc.\n\nWas this helpful?  \n\nAre you in the insurance business... or, did you recently get 'rated' on a personal application?
601363
In many life insurance companies, no one is covered if the owner of the policy commit suicide. Some companies have a suicide clause where you are covered for a certain amount of time when you commit suicide. For a beneficiary to claim life insurance proceeds, a proof of death is required.\n\nRemember, if you are choosing term, you want to choose the maximum length available like 30 years. And also, you want to invest in mutual funds at the same time (you should put away $100/month into it if you understand the Dollar Cost Averaging concept).