subject: Life Insurance Options What you should know before making a decision [print this page] Life Insurance Options What you should know before making a decision
What is a life insurance?
Life insurance is a contract between companies and life insurance policyholders. The contractor agrees to pay a certain amount of a regular issuer of life insurance and agrees to pay a certain sum in case of death of the contractor. If the policy owner dies, the payment of insurance is the recipient of the awardpolicyholders.
Life Insurance Options:
Term Life Insurance:
A term life insurance provides death benefits to the contractor if the insured dies within a specified period of time. Once the period or "term" expires, the contractor any more advantage. One advantage of term life insurance is that they are the cheapest wayPolitics, you can get.
Permanent Insurance:
Permanent life insurance combines death with tax havens. Permanent life insurance should be just that, permanent. This type of policy is a life that would normally carry for the rest there are major expenses for the establishment of a permanent life insurance, but this type of policy provides significant tax advantages, make thegood investment.
Whole Life Insurance:
A whole life insurance provides a fixed amount of coverage in exchange for a fixed pattern. Whole Life Insurance is a type of permanent Life Insurance. This type of policy to last until the insured dies and a death benefit is paid until the contractor or until the policy will be achieved through what is known canceled in redemption value. The surrender valueThe value is a sum of money that the insured is entitled to receive from his death and the premiums paid far less tax liabilities.
Universal Life Insurance:
Universal life insurance is a kind of combination of life insurance and term life insurance. The cost for this type of insurance is much less than whole life insurance and theThe money paid in premiums goes into a bill, which is secured in the tax can borrow against.
related-linked life insurance:
This type of insurance provides cash reserves to bonds and shares.
Variable universal life insurance:
This type of insurance, investment opportunities by combining a life insurance with flexible premium variable nature and coverUniversal life insurance.
Single premium life insurance:
This type of insurance requires a large cash payment, because all payments due to the premium for the duration of the policy.
Survivor's pension life insurance:
These policies ensure that people usually a married couple. What the political board survivors benefits are paid after the death of the second person on the policy.
This isan overview of some of the many types of life insurance available. You should always have a professional competent in planning for the future of you and your family.
