subject: This is a form of life insurance [print this page] This is a form of life insurance
Life insurance refers to a person buys a policy with the intention to compensate in case of catastrophic events, especially death. Every person who shall be the policy as the insured and the issuer of the policy known as purchases by the insurers. The insured pays a small sum of money agreed on at the end of each period. The amount owed to the insurer is called the premium.
After the death of the insured, the amount due to the accumulatedPayments to the insurance company, beneficiaries of the insured. With the purchase of the policy, the policyholder must be able to nominate a beneficiary, and in many cases, this is a close relative. The amount payable at the time of death depends on the premium the insured pays the insurer.
The bonuses are available on the peace initiative of policyholders in mind. This means that you need from what they consider appropriate to pay and whatfeel they deserve, in order to reach their intended beneficiaries after death. Even if you do not leave and the cost of an individual's life, goes a long way to ensure that beneficiaries receive compensation for the loss.
Life is not only because of the death of the insured. The policy is governed by certain conditions. With the purchase of the policy, the insured must choose between a number of options for the conditions in whichDeath must be paid. For example, if the insurance is a person against death by accident, the insurance is not required to beneficiaries if death is caused by illness or accident, fire.
