subject: Life Insurance Policies - Save Money In The Best Way [print this page] Life insurance:
A Padgett insurance agency provides a life insurance policy which is evidence of a contract between two parties; one party is the life insurance company and the other party is the policy owner. Under a term insurance policy, the insurance company promises to pay the sum insured, if the life insured dies within the period specified in the policy; if the life insured is alive at the end of the period, the policy terminates on that date and the life insurance protection ceases.
In the insurance business, you want to be perceived as a person who markets instead of one who sells products. Individuals who believe their goal in life is to sell you something; in many ways, these persons have greatly damaged the image of the insurance and financial service industry. Building a protection portfolio for each client will cause you to stand out, and separate you as an adviser from the average insurance product pusher.
Insurance products in Padgett:
Universal and term life insurance:
Unlike a whole life policy, its premiums can be increased or decreased, paid when due or at unscheduled dates, or stopped entirely and restarted at the owner's will provided the policy value is adequate to maintain the cost of the insurance. Flexibility exists in the options to increase or decrease the policy's face amount; evidence of insurability is usually needed for the increases. This policy can be adapted to satisfy the changing insurance and investment needs of its owner; because it generally has few long-term guarantee.
Employment-based pensions (retirement plans):
A retirement plan is an arrangement to provide people with an income during retirement when they are no longer earning a steady income from employment. Often retirement plans require both the employer and employee to contribute money to a fund during their employment in order to receive defined benefits upon retirement. It is a tax deferred savings vehicle that allows for the tax-free accumulation of a fund for later use as a retirement income. Funding can be provided in other ways, such as from labor unions, government agencies, or self-funded schemes. Pension plans are therefore a form of "deferred compensation".
Medical insurance:
Employee health insurance is a benefit that almost everyone considers very important when they are looking at potential jobs. Although a national health care program has certainly been considered by the federal government, Americans are generally against such a program. However, the quantity of employers who offer employee medical insurance to employees has dropped at a very steady pace within the last five years. This is due to the fact that the costs of providing the coverage surpasses inflation and wage increases. So, most citizens necessarily must make hard, personal choices regarding the type of coverage they are able to afford.
by: elijahkeven
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