Life Insurance To Prevent Financial failure In Your Life

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Fri Nov 20, 2009 5:55 pm   Post subject: Life Insurance To Prevent Financial failure In Your Life  

Term life insurance normally provides the best value and coverage option for most people. It differs from whole life insurance, universal life insurance and variable life insurance in that it can be up to 10 times cheaper, but if you do not use the coverage before it expires there is no redemption value for the money that you paid into the insurance policy. On the other hand, whole life insurance, universal life insurance and variable life insurance are known as cash policies because they provide an investment component and other benefits that can provide income to you in your retirement years



Once you select a type of policy you will need to consider how much coverage to get. This decision should focus highly on how much your loved ones will need to comfortably live without your income. In making this decision ensure you think of long term expenses, including college expenses, mortgage payments, weddings, private school tuition, credit card debt payoff, etc. In selecting the amount of coverage every persons situation is unique, but a good rule of thumb is to consider for the worst in setting how much to insure yourself for. For instance, if your children are your primary dependents, you should assume the worse. A worse case situation would be a tragedy happens to you and your spouse at the same time and your children are left without parents. You may say to yourself that this will never happen, but every year couples leave their children behind due to unforeseen tragedies such as car accidents.



link removed by moderator-lori

Englewood
New member
Leave a quick message



Joined: 20 Nov 2009
Posts: 3


2.99 Dollars($)

PostPosted: Mon Nov 23, 2009 8:58 pm   Post subject:   

I'm not clear on how perm or whole life cover is charged.



Do you pay an annual premium with guaranteed right of renewal, or pay a single lump sum at inception and are then covered for the rest of your life? what happens if you cancel the policy after a few years - any return of premium?



_________________

Get free insurance quotes or Purchase auto Insurance online in minutes.
heidrek
Senior member
Leave a quick message



Joined: 19 Oct 2009
Posts: 233


36.89 Dollars($)

PostPosted: Thu Nov 26, 2009 5:28 am   Post subject:   

I guess it would vary as per the nature of the policy. There are some policies that offer a good long term return for an one-time lump sum payment.


_________________
Register Now to have your Insurance queries solved.
anonymous12
Guest







PostPosted: Sun Dec 13, 2009 8:47 pm   Post subject:   

It's a guaranteed premium (WL) from day one, until the policie's paid up year, or endowment year. You can also buy single premium paid up whole life insurance (these contracts are Modified endowment contracts).

BNTRS
Senior member
Leave a quick message



Joined: 05 Nov 2009
Posts: 848


15.71 Dollars($)

PostPosted: Fri Dec 18, 2009 10:07 am   Post subject:   

Hi...All. I found the same post by englewood in insuranceforum1. Great I found the same here.

rozermoore
New member
Leave a quick message



Joined: 18 Dec 2009
Posts: 1


1.12 Dollars($)

PostPosted: Fri Dec 18, 2009 12:13 pm   Post subject:   

thanks for that heads up rozer, all three of his posts are on both boards.. Rolling Eyes



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Wed Dec 23, 2009 3:41 am   Post subject:   

HAHAHAH,



How nice of him/her to make the life insurance PSA for us all.

BNTRS
Senior member
Leave a quick message



Joined: 05 Nov 2009
Posts: 848


15.71 Dollars($)

PostPosted: Fri Jan 03, 2020 7:40 am   Post subject: site manager course  

more information on Site Manager Courses ?



Thanks

Alex

JamesDef
New member
Leave a quick message



Joined: 30 Dec 2019
Posts: 6

Location: Россия
1.65 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused