Category Archives: Life insurance

Life insurance may be defined as the contract, whereby the insurer in consideration of a premium undertakes to pay a certain sum of money either on the death of the insured or on the expiry of a fixed period. –by M.N. Mishra.

Why Life Insurance is Important to Us?

Why Life Insurance is Important to Us?

It is worrying that the various accidents and injuries at work, and while traveling and from work, so many people have no life insurance. Life insurance is like auto insurance and car, must get in trouble or will, then the policy will pay – and if you become seriously ill, but is covered for all eventualities that we hope will not happen in substance that protects us. Today, however, many people still consider having a life insurance policy as a luxury and look at the fact that this policy will pay a sum of money to their partner or family, which means that bear no funeral expenses or other accounts that can be paid at his death. In addition, you must remember that the average cost of a funeral bill for a single person will be in the region of $ 6.000, and in general will be much higher in wealthier areas – would like your family is burdened with this cost into his death?

With a lot of families left to pay the funeral bill and the actual ceremony of a loved one, you’d be surprised that many more Americans have chosen to take out such a policy. In addition, these policies are as low as $ 20 per month for coverage of $ 10,000 amount is a bit incredible. This ten thousand will be paid by a multitude of reasons, and finally in death. Continue reading

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Life Insurance

Life Insurance

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual’s or individuals’ death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. In the United States, the predominant form simply specifies a lump sum to be paid on the insured’s demise.

As with most insurance policies, life insurance is a contract between the insurer and the policy owner whereby a benefit is paid to the designated beneficiaries if an insured event occurs which is covered by the policy. Continue reading

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