Category Archives: Life Insurance

Listen To What Your Life Insurance Quote Speaks

Article by David Livingston

Life insurance is a subject which requires much deliberation and thought to decide upon which options would suit you best. The future of your dependents hinges with the policy you choose to meet their financial needs after your death. You have to discover new ways to look for the most suitable option if there are too many distractions thrown in to make your choice waver. These distractions are often garbed in the form of attractions which do not serve much of a purpose as far as outcome of the policy is concerned.

You have to concentrate on your needs while looking for low cost life insurance options. You can calculate the amount of coverage using online estimation tools but it is important to re-evaluate your calculation in the light of relevant factors if you feel something is amiss. However, most of the online tools take into account a number of relevant factors in calculating the amount of coverage on your policy. Your level of income, expenses, investments and liabilities must be considered while calculating the amount of coverage.

Your life expectancy plays another important role in choosing your life insurance based on relevant factors. Your life expectancy depends on your age and health condition. If you are young enough at the time of buying policy it can give a boost to your life insurance benefits by lowering life insurance rates. It also depends on your health condition to a great extent and mostly people do not have major health issues at a younger age. However, it is not necessary and if there are any health problems they can have an impact on your life expectancy.

Your health should be in good condition to be able to get the maximum benefits from your policy. You can also work on your underwriting profile if you are looking to optimize your insurance benefits. It is possible to work on your underwriting profile is you know about the underwriting guidelines of your insurer. Every insurer has a different set of guidelines which requires you to be aware of your insurers guidelines. You can compare the life insurance quote from your insurer with others to know if you really need it.

It would be important to get expert help for working on your underwriting profile which can work wonders for your policy. When it comes to choosing the right insurer, you need to look for market ratings of the insurer which are an indicator of prospective growth promised by the insurer. The market ratings work as an objective criteria of measuring the worth of your insurer instead of other factors. These ratings are based on market performance and capital worth of the company which makes it a balanced factor to use for judging the worth of a company.

It is important to have a good life expectancy to be able to make the most of your insurance resources. Only a good life expectancy ensures lower insurance rates and higher insurance benefits. You also have to undergo a medical exam which determines your life expectancy. This exam looks for your life expectancy based on health factors like high blood pressure and high cholesterol levels. These factors can reduce your life expectancy and increase insurance rates on your policy. If you have a medical condition you can also look for term life insurance no medical exam option.

However, this option is known for high insurance rates and lower insurance benefits which can affect the outcome of your policy. It is always better to look for alternative options when looking for life insurance options for a medical condition. There are certain specialized insurers who deal in insurance options designed for people with a medical condition and offer very competitive insurance rates on the policy. The level of health management you have also matter in getting proper insurance benefits from these insurers.

Later in age it is also possible to buy term life insurance for seniors which is specifically designed to meet the needs of senior citizens according to their individual preferences. One of the simpler options is senior term life insurance which is easier to manage and is simple in structure. Apart form that one can also get no-exam life insurance as a parallel to usual no exam options where one can avoid going in for a medical exam for buying insurance. Last but not the least comes graded benefit life insurance which is more affordable no exam option.

About the Author

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on insurance term lifeand term life insurance quotes, visit his site today.

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Know About The Basic Difference Between Permanent Life Insurance And Term Life Insurance Policy.

Article by David Livingston

Both of them provide death benefit on the death of the insured, yet there is a basic difference between whole or universal life insurance and term life insurance policy. Let us examine that:

The whole or universal life insurance policies are valid for the life of the insured. However, term life realizes that nobody needs lifelong insurance coverage and so it is sold for a fixed term only.

The premium you pay in a term life does not buy you anything other than death benefit; but in a permanent life insurance policy, a part of the premium is diverted to a separate account to develop the cash value.

Consequently, the term life cannot offer you any investment opportunity, but since the whole amount is utilized to develop the face amount, you can have a large death benefit at a low rate. Contrarily, the permanent life insurance policies provide financial benefits in your lifetime only; but the death benefit they offer is comparatively much less.

Choosing the right kind of policy becomes easier if we have a clear idea about such differences. Being aware about the working of each policy is also important. It is sad that in these days of consumer awareness, a life insurance policy is bought rather blindly. Indeed, people generally buy whatever their agent or broker recommends and they recommend what suits them most. Consequently, you are often laden with least suitable policy.

If you actually care for your family, you should put a little more effort in selecting the right kind of life insurance policy. Many online articles provide detailed information about different life insurance policies; read them. Quotes too can provide quite a lot of information, if you care to study them carefully. Of course, the process of policy purchase always starts with receiving quotes. Always receive life insurance quote on line; that is the easiest way to do that.

Along with choosing the right kind of policy, choosing the right insurer is important too. Make sure that the carrier is financially healthy and its claim payment record is impeccable too. You can check all these through credit rating companies. Do not neglect it or if you die premature, your family will have to run from pillar to post to get what is their due. Apart from, you too must do your part well. Negligence on your part may also result in non-payment or at least delayed payment of claims.

Now, let us go back to where we started. Choosing the right kind of policy is essential. You may find it surprising; experts today recommend only term life for insurance purposes. They say that the whole or universal life is suitable for only those, who do not have any kind of financial discipline. You see, a term life is far cheaper than these permanent policies; if you only put in the difference in their rates in suitable investment fund, you will get a much better return.

What is more, should you indeed die while a term life is still in force, your beneficiary will get both the death benefit and the investment amount. In case of whole or universal life policy, the insurers will pay only the death benefit. Indeed, with death or endowment, the insurance companies always keep cash value built up using your money. That is why, if insurance is your main aim, go online to receive cheap term life insurance quotes and start the process of purchase.

However, how cheap the term life insurance quotes will be, partially depends on you too. If you are already on the wrong side of fifty, you can never get the coverage at cheap rate. To receive cheap term life insurance quotes you have to be young and healthy with the right body mass index. Moreover, you must not use tobacco in any form; your and your family’s medical history should also be all right; most of all, you must apply for a traditional term life insurance policy. No medical term life insurance may be convenient, but it is also rather expensive.

You must realize the policy prices depend mainly on the insurability of the person and the insurability depends on lot of factors such as your age, gender, tobacco use, whether or not you are suffering from certain diseases as well as hereditary factors. Although the insurers can have a partial picture about your insurability through medical banks and other agency reports, without the medical exam, they cannot come to any definite conclusion. That is why such partially underwritten policies are rather expensive. Yes, they provide instant coverage and there is not much hassle involved in the policy purchase. However, if rates are an issue, you must avoid them at any cost.

About the Author

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on term life insurance

Many Facets Of Life Insurance

Article by Johan Dirano

Insurance covers risk, life insurance covers the risk to life. Life insurance has become an important tool of providing security to the family in case of premature death of the earning member.It has come a long way from being a simple life insurance; from a protection to family against the earning member’s death to investment and wealth generation.

Know your purpose of buying life insurance. It could beLifetime income for dependents Children’s education fundGet added income along with insuranceProvide for the retirement years

Life insurance still remains risk cover first. It insures life. Other benefits are added to support and cater various situations that one may face in life. It is as important to understand that in most cases, insurance is a long term contract and the terms cannot be changed in between. Each life insurance type has a specific purpose and we need to understand that and compare with our needs before finalizing anything.

Let us study the insurance options available

Term InsuranceTerm insurance is a pure risk cover plan taken for a fixed duration to cover a specific risk. You pay a specific premium for a specific sum assured for a given period. The policy ceases as soon as the payment term is over. It is the cheapest life insurance one can get; maximum cover for minimum possible premium. The reason for this is that there are no returns if the insured person outlives the insurance term. The policy simply stops. Though there are options like term plan with return of premium option the premium rises.

It is ideal for those who are sole earning members, have dependents and who want to cover the dependents in case something happens to them. In case one has liabilities like home loans etc. and also has dependents, term insurance becomes even more relevant.

Child PlansChild plans make sure that the child’s financial requirements are met with effectively at their crucial life stages. They work more like investment plans where you pay a specific premium over a given period of time and get back a substantial corpus when the child reaches a certain age. The duration of the policy depends on the child’s age.

Child plans usually come with payer benefit or waiver of premium attached. So, if case something happens to the parent or the payer of the policy, it still remains in force and the child gets the maturity amount as planned.

It is ideal for people with young children who wish to plan for their children’s higher education and training needs. It can be planned as a means to be prepared for extra expenditures for professional training. One can choose between a pure endowment child plan and child plan that ensures periodic payments.

Investment plansInvestment plans combine the benefits of investment and wealth generation along with the security of insurance. They can further be classified into Traditional plans like endowment and money back plans or unit linked insurance plans commonly called ULIPS.Endowment plans Endowment plans are investment linked insurance plans. They have a fixed maturity date for a fixed sum assured. The premium is calculated on the basis of maturity amount and duration of the policy. Every parameter is specified in an endowment plan. Some plans have the option of bonus payments. This depends upon the performance of the insurance company, calculated on the sum assured. The amount is added to the maturity amount.

It is good option for those who anticipate major expenditure at a particular time. The insured gets a lump sum amount on the maturity date that may become a good financial support.

Money Back PlansMoney back plan is also traditional investment linked insurance plan. It gives periodic payments of fixed percentage of the sum assured to the insured person during the policy term. If the policy holder survives the policy term he gets the maturity amount. If he/she dies during the term of the policy, the nominees get total sum assured irrespective of the previous payments. Some money back plans may also have the bonus option. The bonus is added to the final payment of the maturity amount or the sum assured as the case maybe.

It is preferred by those doing life stage planning who may require financial assistance at regular intervals over a period of time. The added advantage of getting full sum assured in case of an eventuality without deducting any previous payments makes it even more attractive when planning.

ULIPSUnit linked insurance plans or ULIPs are market linked insurance plans. Here the investment or the wealth generation part is linked to the market. While in the traditional plans the risk if any is borne by the insurance company, in a ULIP the market linked risk is borne by the insured. If the market is doing well, the

Life insurance coverage with regard to Monetary Balance

Article by Finance Australia

Life insurance coverage is really a plan agreement in between plan owner and also the insurance provider or even insurance provider where the insurance provider guarantees to pay for the specified named beneficiary the amount of cash on the actual passing away from the covered individual which may be the foundation associated with safety as well as monetary balance following a person’s passing away. The primary perform associated with life coverage would be to assist beneficiaries monetarily following who owns the actual plan passes away. Additional occasions for example fatal sickness or even crucial sickness could also bring about repayment according to the actual insrance plan with respect to the agreement. The actual plan owner concurs to pay for the agreed quantity or even high quality from normal times or even within group amount quantity in exchange. A great life insurance not just handles losing earnings once the insurance provider passes away, but additionally, handles the brand new expenses developing following the passing away associated with insurance provider such as funeral service costs, taxation’s, probate expenses, the requirement with regard to housekeepers as well as kid treatment. These types of money advantages are supplied for that group of the actual insurance provider with regard to long term requirements such as university training costs for that kids as well as component or even all insurance provider partner’s pension requirements.

There are lots of on the internet as well as traditional coverage guidance businesses which assist individuals through making clear the actual uncertainties as well as inquiries associated with insurance plans as well as leading all of them concerning the plan programs associated with insurance providers. Skillfully developed provide suggestions about a number of subjects such as car insurance, medical health insurance, home owners insurance work coverage as well as life insurance. These businesses provide readily available content articles exposing tips about subjects for example purchasing coverage insurance , quantities as well as kinds of insurance policy, insurance plan queries, dealing with issues as well as statements. Because there are numerous associated with insurance providers as well as their own insurance work coverage, these types of insurance coverage advisory businesses assist in understanding concerning the programs as well as their own advantages. Such as Illness as well as incident insurance coverage enables the actual repayment associated with money advantages to become created straight to the actual insurance provider therefore that she or he may use the cash to assist purchase out-of-pocket healthcare expenses, dropped income or even additional unpredicted costs because of sickness or even damage. Incident & Impairment insurance coverage offers protection with regard to physical damage or even passing away caused by unintentional indicates (besides organic leads to).

So you can get the life insurance coverage, the life insurance coverage quotation is actually examined about the believed price associated with insurance plan of the candidate. It’s usually determined about the info given by the actual candidate towards the insurance provider. A job candidate is needed to supply his / her grow older, sex as well as condition whether or not they make use of cigarettes or even not really. Fatality furniture determined through actuaries along with health insurance and genealogy are utilized whenever determining the life insurance coverage quotation. Life insurance coverage quotation consists of created conditions and terms that the life insurance coverage agreement is going to be supplied. If the insurance coverage is actually upon phrase foundation or even long term foundation is actually mentioned through the life insurance coverage quotation. Usually, quotes tend to be acquired through the insurance coverage agents, brokers or even any kind of on the internet broker agent insurance provider with respect to their own clients or even candidates. As well as, the actual reps (agents, brokers or even internet company) may store a number of insurance providers to obtain the greatest cost as well as protection inside a life insurance coverage quotation.

EZI protect is an Australian author who always writes about Trauma Insurance, Funeral Cover, and Work Cover policies to protect your families.

About the Author

EZI protect is an Australian author who always writes about Trauma

Australian Life Insurance is always there for you even when you are not there for your family

Article by Max PETERS

The Australian Life Insurance services deals with many of the circumstances which comes with a proper policy which is structured to meet all your personal requirements which are imperative . The resolution is to save on significant out of pocket charge but still find a policy that is beneficial to your needs.

The cost of life insurance depends on quite a few factors. The premium of a policy is directly proportional to the risk involved, therefore, there are greater risks involved like old age, main fitness issues, past driving records, risky hobbies, and sometimes risky occupation, that can make the premium of a life insurance policy higher. The number of premium will also depend on the amount of coverage that you need and the terms you request.

The risk factors will depend on your healthiness depend on your age, and the presence of any serious infection that you might have. Diseases like cardiovascular, cancer, diabetes, and HIV/AIDS, are considered to have a higher risk factor than others. The other issues that increase the risk factor are history of a present at birth infection such as obesity, high cholesterol levels, alcoholism, substance abuse, and smoking cigarettes. Some risk factors can be reduced by treatment which can bring down the insurance premium, but there are others that have no solution.

No one knows what is going to take place to them in the next moment because life is so uncertain. Hence it is important that you have a proper policy of life insurance to counter some mishappening occuring in the future . Your family members plus spouse and kids and other dependent people at your house are there always for you whenever you need them, therefore its your primary responsibility to safeguard their future as well so that you can safe them in your absence too. Having a proper cover under the life insurance policy is the proper way to look after your family . You can collect a amount of life insurance quotes from good websites and select the top as per your necessities .

There are many fine insurance companies which provide good policies . Including term life insurance, complete life insurance, income protection, trauma insurance, and total and lasting disability insurance.

The life insurance in general deals with all your personal insurance, which keeps you intact during your bad time even in case of any terminal illness and acts as a fine hold up for your family member in case of your death . It can make your family member to get rid of the debt you have through a fine number . The money your family member is frequently tax free and they barely have to pay anything on getting the amount .

Whole Life Insurance is an insurance policy coverage for life only. In case a person passes away it gives the money to the immediate beneficiary. This type of insurance is more expensive than term life, becaue it includes some investment options. These can action as a cash value which can be borrowed against anything . This is one of the most common types of insurance that people will have in their lifetime.

Income protection insurance goal is to safeguard your yearly income for something which you cannot pay for in the middle of the year . Most polices cover you 24/7 any where in the world if something happens that prevents you from working due to an illness or injury. When a claim is completed, you are paid by the insurance company a monthly sum equivalent to approximately 75% if your income. Most policies pay you up until the age 65 or when you get better and can go back to work. This kind of policies are in general affected by various time period waits, hence it is vital to speak to the insurance expert to make sure you select the suitable cover. Income Protection is generally tax deductible; which makes it one of the plus when considering special types of personal insurance available.

Trauma Insurance is used in the event of the insured suffering a traumatic illness, such as a heart attack, stroke, and/or cancer. The types of conditions defined as traumatic illness differs depending on the insurance supplier and the policy. It is vital to know that the kind of state which are covered when you are looking for any policy as per your requirements.

Total and Stable Disability insurance is devised to help you when you encounter serious injuries or illness which makes you out for six months or so. This is sometimes used along with trauma insurance. Usually once a claim is filed, a lump sum payment is made that will cover medical and rehabilitation expenses to help you get back to working and living.

The suitable life insurance coverage can make a real diversity in your ability to enjoy life. You certainly deserve a good policy cover which can look after you and your family . Australian Life Insurance can give you that security to keep you

Life Insurance: Money-Saving Tips

Article by Lily Smith

Life insurance is something that many people contemplate about purchasing. We all know that life insurance is one way of saving our resources for a time when our family would really need it, and it is also a way to improve your family’s financial stability when you have passed away. Obviously, because of the sensitive time wherein the insurance policy would be claimable and useful, a lot of people find it hard to give advice about getting insurance policies.

This is a shame because getting insurance policies can become quite confusing and quite a complicated task. The truth is, possible life insurance policy purchasers may find it difficult to make a decision without exhausting all their sources of information. From a life insurance calculator to a financial adviser, to friends and family’s opinions, a lot of people try to get as much information as they can. The bad news is, all these opinions may be pulling the purchaser in different directions; when all s/he really wants to know is how to get the best value for his/her money. And this is why we made this article. Below are tips on how to save money, and increase value, when deciding to purchase a life insurance policy.

1.) Get in shape. One way to improve the chances that you will be granted insurance is to be healthy. The principle is: if you are healthier, your risk level will decrease. This means that you may be granted a better life insurance plan at a higher coverage or at a smaller premium (the amount that you pay to the insurance company). Thus, it is ideal that you try to quit smoking, lessen drinking, try to lose weight or gain weight (depending on the need of your body), keep your cholesterol levels in check, and monitor your blood pressure. All these factors will definitely help lessen your risk factor and save you thousands of dollars.

2.) Find out how much. How much what? How much insurance you need, how much insurance you can get, and how much insurance you can afford. Getting these values right will definitely lead you to save money as unnecessary coverage will be avoided, and expenses will be in check. A life insurance calculator can help you determine how much you are worth (in insurance), and how much you need to pay to get this coverage.

3.) Don’t go solo. Ask your company if they provide you with insurance, or if you can increase the amount you pay for the insurance they offer so you could get better coverage. Usually, corporate accounts get better deals and higher rates because of the number of the people involved in the account.

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Money Saving Tips for Life Insurance

Here is the truth: life insurance is something that not a lot of people enjoy talking about. Unless of course you are a life insurance agent, and the mention of the word means a hefty commission. Otherwise, thoughts and conversations about life insurance will make you think about death; something nobody really enjoys dwelling on. To make matters worse, it reminds everybody about expenses and monetary problems.

This is exactly why we decided to make a feature on this: ways to save money when buying life insurance. This article will help you decide on the best ways to maximize your dollar when purchasing life insurance. These simple tips will show you the value of value versus affordability and life-long investments versus short-term ones. Here are our tips:

Know how much you need. You can use a life insurance calculator to figure out how much you would need to help your beneficiaries get through life without the monetary support you bring them. These calculators may be found online and are offered for free. These help you determine the amount of coverage you would need, among other things. Check your health. If you think you have some unhealthy habits, stop doing them. Quit smoking, try to lose weight, keep your cholesterol and blood pressure levels in check, and make sure that you are healthy and disease-free. Being healthy will improve your risk factor and will save you money. Forget about riders. The thing is, when you check out any tool that tells you how much you are covered for like a life insurance calculator, it does not include the price you pay for riders and all these add-on insurance products that your insurance agent will definitely try to sell you. In the end, they are usually useless, so skip these riders instead and invest more on the main policy.

About the Author

Lily Smith is the author of this article about life insurance comparisons in Australia. Read more about it at

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No Medical Life Insurance Can Be For Those People With A Medical Condition.

Article by David Livingston

Yet another common myth is the fact that those who are suffering from terminal illness cannot avail life term insurance and life insurance in general is for those who are hale and healthy. In fact that is not true. Life term insurance is available even for those with terminal illness. They can be charged at a higher price, however it serves the purpose. The amounts collected as premiums are usually paid towards surgery and medical expenses.

Even if you do not have terminal illness, yet you have other non recommended habits such as smoking, drinking and other dangerous hobbies, many insurance companies will reject your application considering the risk involved in giving life insurance to you. Such people can opt for no medical life insurance as many insurance carriers do provide this option to insurance seekers. It is always to find such insurance policies, instead of getting disappointed over your insurance rejections.

When you browse the internet, mention specific key words such as ‘no medical life insurance’ and see the results. You will have a whole list of carriers who are providing this kind of coverage and you can also seek free online quote by providing certain basic information about yourself. You can filter your search down to your location to understand the type of insurance carriers that are offering insurance near you and you will be given a link to access their company websites as well. You can also check the same from the broker’s website. You can also start to compare the different quotes received and talk it out with the agent.

Some agents have special powers give by carriers to offer discounts to special clients. Every insurance carrier have their own written down procedure on how to evaluate risk involved in a client’s profile and offer no medical life insurance and you should know everything about the same to say that such policy match your needs. You can get no medical life insurance from your home computer itself. You don’t have to sweat one bit. All the formalities towards application form entry can be made online. You may have to answer few questions related to your health as there is no medical examination conducted to issue your policy. Once it is done, you may have to provide proof of your age, address and salary quoted online to the carrier for further verification.

With this information the insurance can issue the life insurance policy to the applicant. Yet another feature of no medical life insurance is that it is really instant policy as you are given away with the policy instantly and does not have to wait for weeks for the policy to get issued. Be sure that you provide the complete information wholeheartedly as there are number of ways in which insurance carriers do cross verify the information provided. Also, you can start to claim on your insurance policy only after 2 years of your coverage commencement. So, if you have a terminal medical condition and in case happen to die within the first 2 years, your family will not be given any payout at all.

There are certain tips you must follow to get term life insurance policies. They are:• Balance the net costs• Match up the ratings of carriers• Verify the discounts• Possess a recommended lifestyle• Receive a quote.

Term life insurance is sold in smaller portions of ,000 to 0,000 and it will be increased proportionately to the coverage amount. Check the net cost index when you ask for a life insurance quote online. You can use this facility to compare insurance rates at different slabs and for different types of policies.

During your comparison of instant term life insurance quotes, you need to ensure that your insurance providers have a good credit rating from companies such as ‘Moody’s’, ‘A.M. Best’, ‘Weiss’ or ‘Fitch Ratings’. This will be able to restrict your choices to be best and the economical life insurance policies. Majority of insurance carriers do offer discounts from which you can choose the best. Browse the net to know more.

If you improve your lifestyle you can get the most affordable term life insurance. For those with an existing carrier can also get discounts if they show improvements towards cleaner habits and recommended well being. Finally, it is simple, easy and very effective to compare quotes online and you can get discounts on top of the rates offered by carriers as certain agents will certain privileges for customers like you. Go on, start browsing the net today.

About the Author

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on affordable life insuranceand instant term life insurance quotes,

The Basic Facts About Universal Life Insurance Policy

Article by Elissa Joyce

Known for its flexibility and cash value, a universal life insurance policy has been introduced in the life insurance market sometime in the 1980s. It is also referred as adjustable insurance policy and quite different from whole insurance policy. A universal insurance is the best investment you can give yourself and your family.

The Benefits of Universal Life Insurance:

Aside from its flexibility, a insurance has a savings feature that is tax-deferred. The company that provides you with a universal insurance invests a part of the premiums you paid in mortgages, money market funds or bonds. The tax-deferred income generated from this investment is credited to your insurance policy.

Every insurance policy has guaranteed minimum interest rates applied to it, usually about 4 percent. This means your insurance company guarantees a minimum return on your premium that it invested even if the investment did not perform well. If the investment performed well, the return in the form of interest rate on the accumulated cash values will increase. There are permanent life insurance quotes available online that you can use to compare different insurance products.

Meanwhile, there are two death benefit options that you can choose from. One option allows the payment of death benefit from the cash value of the policy which make this the cheapest among the two options. The second option provides payment of the amount stated in your policy, in addition to accumulated cash value.

Many insurance companies are offering a no-lapse life insurance guarantee provided that the minimum designated premium is paid. This gives you a policy that is in force and valid up to age 100. However, do not expect to accumulate significant cash values if you are only paying the guaranteed minimum premium.

An Overview of Universal Life Insurance Premiums:

Do not confused insurance with whole life. These are two types of permanent life insurance with one having different features from the other. The good thing is, you can access permanent life insurance quotes for these two policies.

With whole life insurance, you are required to pay billed premiums on or before the end of the stated grace period. Failure to do so would put you at risk of a policy lapse. Meanwhile, policy holders of universal insurance can pay the billed premiums, more or less than the billed premiums or no premium. They also have the option to pay the premium at any other time and the flexibility on the amount to be paid.

The universal insurance is a flexible and adjustable version of the whole insurance. Gone are the days when an insurance policy is inflexible when it comes to cash value, death benefit and premiums. However, despite its flexibility, there are still rules covering the premium payments for universal insurance. Although you may choose the no premium scheme, any payment that you will make should be no less than the minimum amount in order for the insurer to manage the expenses of premium processing and collection.

Normally, the premiums for a universal life insurance are minimum, target and maximum. If you opt for the minimum premium, payments are made annually and in the amount that is enough to keep the insurance policy in force and valid for another year, but without any cash value accumulation.

The target premium is the amount needed to keep the insurance policy in force and valid all throughout the life of the insured. Meanwhile, a maximum premium allows the insurance policy to retain its insurance character.

About the Author

If you need more information and help in choosing the best type of universal life insurance policy to buy, click on

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Questions To Ask Before Taking life Insurance

Article by SjoerdN

When looking for Insurance we often think if we really need it? But that’s not the only thing we need to know. Since almost everyone suggests that it is important to take insurance, more important to know is what kind of insurance is required and what to know before taking life insurance?

Why take life insurance?

Life insurance is a security one buys for oneself and for the family. It ensures that if there is untimely death of the earning member, rest of the family don’t have to face the financial insecurity. Life insurance may also be bought to cover specific events during the life of a person through investment linked life insurance plans. So, life insurance should be taken by those

1. Having financial responsibilities2. Having people dependent on them3. Taken loans for home or car etc.4. Looking for secure investment options5. Looking for tax exemptions6. Planning for retirement along with insurance cover

So, identifying the need for insurance is the first crucial step. Purpose of insurance helps decide the type of insurance required.

What all to consider before buying insurance

After identifying the nature or the type of life insurance cover you want, next important things are1. Coverage – How much cover do I need? Calculating a life’s worth is as difficult as it is important. It depends upon the purpose and the nature of life insurance. If it is for the child’s education you may need to calculate how much you may need to spend and at what time to decide on the maturity amount. If it is term insurance, you will need to calculate all your financial liabilities, including loans if any, cost of living for spouse, children or other dependents such that they don’t have to face financial difficulties in fulfilling whatever you had planned for future.

2. Premium – How much premium should I pay? Premium you pay for the insurance depends upon things like nature of insurance, sum assured, age, health, duration of cover and other benefits offered by the insurance company. Life insurance in which you get some money in the form of maturity amount have higher premiums than a pure term insurance plan. Many life insurance policies will require you to undergo medical examination. Your medical report is important in determining insurance premium. Younger the insured person, lesser the premium as insurance companies consider older people more liable to health issues.

3. Benefits – What benefit do I get from my life insurance? Identify what benefits you will get out of life insurance. If it is a pure term life insurance, all you get is sum assured in case of death of insured during the insurance term. If it has to return of premium, you will get a maturity amount at the end of the insurance term. Similarly, if you are opting for investment linked life insurance like money back, endowment or child plans, it is netter to go through and understand all the benefits that you may get for taking the policy.

How to go about buying Life insurance

One you have decided upon the purpose of insurance and the sum assured, you will generally have an idea of what you are looking for. The next step is to compare insurance quotes of different companies so that you get the best deal.

Insurance is a long term commitment so make sure that you decide on a premium that is convenient for you to pay and sum assured is enough to cover your requirement.

About the Author

Easy Policy, We make buying online insurance policies offered by different companies in India easier. Compare insurance quotes and get best rates for Child Plans, Health insurance, car insurance, travel insurance and term insurance at Easypolicy.

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Term Life Insurance-economic Sense?

Article by George Braggen

Purpose of Life Insurance

If you die, life insurance is designed to provide financially for those you have left behind and have listed as your beneficiaries. In buying life insurance you, the insured, enter into a legal contract with the insurance company, also known as the insurer. Basically, the contract states that if you make your monthly insurance payments in a timely manner, your family or other beneficiaries will receive a specific amount of money when you pass on.

Although some may find the idea of life insurance distasteful, it is considered to be essential in protecting the fiscal health of your spouse and children should they find themselves fiscally taxed due to your death.

Types of Life Insurance

There are two primary types of insurance: permanent life and term life insurance. Each provides specific types of protection for your loved ones.

Term life insurance, the simplest form of life insurance, is designed to protect your family for a specified length of time or “term.” Term policies, which range from 1 to thirty years, provide a one-time death benefit but no cash savings. This means term policies only provide benefits as long as the insured has paid the premium, which is the cost of the insurance. Premiums are divided into equal monthly payments that are assessed for the entire period of coverage. If you bought a policy that covered you for a three-year term, then you would make 36 equal premium payments on that policy.

Permanent insurance is designed to offer both a death benefit and an investment return after a length of time. Because this type of insurance offers a long-term savings plan, premiums are higher than those for term life insurance. Common types of permanent insurance are whole life, universal life, and variable universal life.

Term vs. Permanent

Term life insurance is especially appropriate for those who desire coverage for a specific length of time and who have limited funds. Because it is less expensive than permanent insurance, term can offer more coverage for less money. This is useful to people who have children, mortgages, and various types of loans. The right amount of term can cover these expenses and more. However, if you still desire coverage after a term policy’s period ends, factors such as poor health and age will result in higher premiums when you buy a new policy.

Permanent insurance, although more expensive, allows policyholders various benefits, including a premium that will not change as you age or if your health deteriorates. Also, permanent insurance will usually accrue monetary value, offering the policyholder a return on their investment that they can access as worth builds.

Whole or ordinary life is the most common form of permanent insurance. With whole life your premiums and the face amount of the policy are fixed over the life of the policy. Your premiums must be paid regularly. A more flexible policy, where you can pay premiums at any time in just about any amount, is universal life. With this kind of coverage, you’re allowed to modify the death benefit amount according to your needs.

A variable life policy carries both a death benefit and monetary value. The value of this policy is dependent upon the performance of investments. You select the investments for your portfolio and the better they perform the higher the death benefit and cash value of the policy. Some policies offer a minimum death benefit regardless of how your portfolio functions.

Variable-universal life carries elements found in both variable and universal life. You get the risks and possible rewards of a variable policy and the flexibility of universal coverage.

Choosing a Life Insurance Company and Policy

There are some important things to consider when buying a policy. Be sure to shop around before buying life insurance. Consumers can buy insurance directly from an insurance company via the Internet or over the phone. Buying this way is usually cheaper than going through an insurance agent because the agent receives a commission, called a “load,” when they sell a policy.

The life insurance industry is very competitive with hundreds of companies offering policies. This is a benefit for the consumer, because competition tends to aid the buyer; however, this can also be seen as a detriment because the range of choices can make finding the right policy from the best company daunting. Your search will be easier if you consider four basic criteria in making your selection-rates, budget, service, and stability.

Rates: Because it is such a competitive business, life insurance rates vary greatly from company to company. Find three to five policies with attractive rates for the amount of coverage you desire.Budget: Once you’ve found these policies, be sure the premiums are within