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 Posted: Wed Dec 17, 2008 5:57 am Post subject: Can any one explain me what is term life insurance and how s |
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| I want to purchase a term life insurance policy, please suggest me how it will be beneficial for me and if made my wife as nominee how she will get benefit if any thing happens during the policy period. |
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john83lee
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| Posted: Wed Dec 17, 2008 10:20 am Post subject: |
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| Quote: | | I want to purchase a term life insurance policy, please suggest me how it will be beneficial for me and if made my wife as nominee how she will get benefit if any thing happens during the policy period. |
Why do you want to purchase term life plan? Not many now-a-days purchases the term life plans, since it offers limited benefits to the policy holder. With the term life plan, the death benefits will be paid to the beneficiary if the policy holder dies within the term of the plan. Term life plans, however are suitable for people with mortgage loans or other types of loans. If the policy holder dies within the term the death benefit will then help the deceased family to re-pay the loans. |
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jeorge
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| Posted: Wed Dec 17, 2008 10:31 am Post subject: |
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| Quote: | | please suggest me how it will be beneficial for me and if made my wife as nominee how she will get benefit if any thing happens during the policy period. |
Well, if you nominate your wife as the beneficiary of the plan she will receive the death benefit after your death (god forbid). However, for term life plans, no money will be paid if the policy holder doesn't die within the term of the plan.
John, you may not restrict yourself only to term life plans and should explore the other options available to you. I'd suggest that you contact an agent and evaluate the various options available. |
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JeremyHolter
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| Posted: Wed Dec 17, 2008 12:38 pm Post subject: insurance |
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| LIFE vs. Final Expenses: I've read different views on BOTH of these. Do they have the same kind of benefits? What are the 'pros' and 'cons' on having each one? |
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sdchargersfan
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| Posted: Wed Dec 17, 2008 1:55 pm Post subject: |
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The benefit of term life insurance for you and your wife is that it pays your beneficiary cash if you die.
That means your wife would have money to continue her current lifestyle, pay the bills, pay the mortgage, auto loans, have money for retirement, and other expenses, including your burial if you should pass away.
The proceeds from a life insurance policy are usually paid to the beneficiary free from federal income taxes.
The beneficiary can use the proceeds for any reason.
The life insurance gives you and your wife the peace of mind knowing she will be financially secure should something happen to you.
You may want to consider a life insurance policy for your wife, too.
Term life insurance provides temporary coverage usually for 10, 15, 20, or 30 years. If you outlive your term, the life insurance expires.
Term life is not an investment, there is no cash value. With term life you only pay for the life insurance, that's why the premiums are usually alot less than for permanent life insurance, depending on your age.
You may want to consider a renewable term life insurance policy that allows you to renew your policy without any physical exam required to qualify for another policy when your first term life insurance policy is going to expire.
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Learn how term life insurance works and compare free term life insurance quotes - visit http://www.term-life-online.com |
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Hadley
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| Posted: Wed Dec 17, 2008 2:28 pm Post subject: insuance |
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| Hello, HADLEY!! Well...............I'm a single mom, with a 15 year old boy. I know the Forum ID 'throws peple off'..LOL Yep..I'm 44 years old. I'm in the Military and I do have Life Insurance policy, through the Military. I'm looking for something, for my son, that (possibly?) will uild some kind of 'cash value'. Any advice? |
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sdchargersfan
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| Posted: Wed Dec 17, 2008 4:37 pm Post subject: |
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sdchargersfan - As far as cash value you could consider a form of permanent life insurance.
If you want to consider investment life insurance vehicles like Universal Life and Variable Universal Life, you should meet with a licensed life insurance agent to review the benefits.
Make sure to review all of your options before making a purchase. Variable Life may not be the safest option for you in an unstable market.
Review the premiums, rate of return, any guaranteed rate of return, and how this may effect the amount of coverage you have. Also, review the options for accessing the cash value build up within the policy, the loan terms, and how it may be used to purchase additional coverage, if possible. |
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Hadley
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| Posted: Wed Dec 17, 2008 5:57 pm Post subject: insurance |
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| I do appriciate the advice...thank you. You're right...........this IS an unstable market. I need to get something that will be a 'benefit' to me and my son. ...something I can afford. |
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sdchargersfan
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| Posted: Thu Jan 01, 2009 6:52 pm Post subject: |
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| Quote: | | I want to purchase a term life insurance policy, please suggest me how it will be beneficial for me and if made my wife as nominee how she will get benefit if any thing happens during the policy period. |
How old are you and how is your health? How much coverage are you looking for?
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Victor Suris
www.lifequotesnow.com |
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victor27s
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| Posted: Wed Jan 28, 2009 12:56 pm Post subject: |
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Term Life insurance is basically a temporary insurance on your life. Some features include:
• It is only valid for a specified period, or term. You can choose the term period of say 5, 10, 15, 20, 25 or even 30 years.
• The premiums for term life insurance are low and need to be paid annually.
• Term life insurance becomes beneficial only if you die during or within the period of the term.
• Term life carries no cash or surrender value.
• Various options in term life policy include renewability privileges, convertability options, Return on Premiums (ROP).
A helpful resource is Life Insurance 101.
Denise
AccuQuote.com - Life Insurance Company
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Denise
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| Posted: Wed Feb 11, 2009 5:32 am Post subject: Reply for your question |
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If you want to know what is life term insurance please call my number:9789000241
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janschake
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| Posted: Wed Feb 11, 2009 1:04 pm Post subject: |
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As far as I know, term life insurance covers the insured for a fixed period of time. Example, you want to have a 5-year term insurance plan. Your protection would only be for 5 years. If something happens to the insure within the period, the beneficiary gets the proceeds. But after the 5 year period, the plan matures. You need to renew it for you to be protected again.
What is good about term life insurance is that it is cheap. It is the cheapest type of insurance (i think...  ) But it offers limited protection and benefits.
I would suggest that you buy a plan that earns dividends and has cash values. It cost a little higher compared to term but it offers much better benefit.
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joven222
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