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Many people ask, "does life insurance at all, as" life insurance has been shrouded in secrecy since its inception. This is due in part to the type of life insurance has traditionally been sold, the agent has been trained in the operations committee. But other factors include the fact that life insurance is perhaps the intangible product, you can buy and that the fact that it has developed is strange and mysterious Paths through the work of statisticians called actuaries mysterious.
Actuaries are statistical professional with strong business training or experience, data such as gender, age, occupational hazards and use of medical research to calculate the probability of death of a person. Using these data and actuarial calculations, to advise on insurance, as a special policy for a particular applicant is expected to cost (ie, what should be its awards ceremony). From this consultation, a> Life insurance premiums are set with his "cost per thousand" tables.
After a person has applied for a life insurance policy is taken and medical exam life insurance, provided that one, the person is insured, he will tell you how much monthly salary for each (or every year or every six months) to pay for the coverage of the area of risk of falls. Factors youth, female sex, non-smoking status, and general health of the medical basis Tests contribute to a reduction of the award, while their opposition to higher premiums. increase after a dangerous job even prizes based on insurance company's underwriting standards.
different types of measures
There are several types of life insurance. It 'important to know in order to make an informed decision about the type of coverage is best for you.
First comes the first type of> Life Insurance ever conceived: the end. A long-term policy is very simple: you pay the premiums for the coverage of death for a specific period or have the time. If you die during that period, the beneficiary receives the payment. If you're still alive when the term is up, you can extend the policy to be (in some cases) for a further term of office (with your payment to the state of New Age is based), or you risk losing coverage. There are different types of term life for different purposes. You do not return anypremiums you paid during the period. But life is the cheapest form of term life insurance, and many financial advisers and planners recommended.
(Recently, the life insurance sector has developed a new type called life term Return of Premium Life Insurance (ROP), where the premium, all your previous one, if you survive the term. However, the type of term life is much more expensive. The life insurer is the additionalMoney to invest and profit as a hedge against any ROP).
Later, the life insurance companies developed the Whole Life Insurance. The idea was for the policy "to encourage people to 'have a whole life or until a very advanced age (at which time they would have to pay the death benefit if still alive) and can help build cash value in life insurance, which could be used, if necessary, and finallyalso be used to pay the premiums of insurance policies. And it is true that if a life policy is held long enough, there is the same as a decent corporate bonds. The problems are: Whole life insurance costs much more than term life, many people could better define their returns much money to invest the money to save her, and life insurance has never been the intention, the life that will take place entirely on his own.
In response, life insuranceCompany about 20 years ago started the development of life and universal life insurance-linked units. These policies are actually term life with a tax free investment account with them included, this account is part owner individually by the policy. Variable universal access policies for increased investment returns, but it runs a greater risk, including possible losses, they also allow for additional funds that are paid with the payment of premiums to increase theirPresent value. This insurance premiums are generally between life and the duration for the same amount of coverage for the same person.
Basic Information
As a general rule, if you apply for life insurance it pays to do your annual fall and for 8 to 10 times. (It may also be other considerations, the amount you want if your company in a situation or if you use life insurance for a mortgage payment in case of specializedearly death). So if you earn $ 50,000 a year, you want to have a death benefit of $ 400,000 to $ 500,000. The goal is to be able to pay the receiver with all your debts and still more money to invest and use an account as income on your left.
Recipients must be chosen with some care, because it will make the selection with the investors, if the application of the technical side, all you want to turn suspects, but naming a "strange" as far as a relativeYou may refuse the insurance for suspecting your motives. If you are married, you should name your spouse and / or your children if you do not have to do, but again, if this can be viewed with suspicion even if it is justified by the agent and insurer You can get the policy. You can name your beneficiary (s) to change at any time while the policy is in force.
Most insurance companies will not pay if you commit suicide or be killeddesignated recipients within the first two years with the policy and will be a clause written into your policy. Even if a request to die is made, and stands out as a contractor lied on your application (as you said, you smoke, but do not have autopsy showed), not to pay the life insurance.
If you apply for life insurance you need to prepare applications for health to answer some questions about sensitive personal and financial affairs.Staff members are trained as professional goal-minded and there are strict rules on confidentiality in the industry.
Some people like Internet applications for life insurance. This can be a good idea if you know what to do, but the average person would benefit from meeting planners in person with agents, insurance or several meetings with a life insurance broker or financial ability to recommend the best.
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