hi..If you're asking whether most of the people would maintain life insurance till its maturity...my answer would vary between places. Let me inform you that in underdeveloped nations only 1-2% of their population are covered for life, while for a developing nation its about 5-6%..let me also tell you that this percentage would increase to around 90% for developed nations.
This difference has its root in difference of earnings for different economic segments! On the other hand if you're enquiring about whether people are more eager to keep term life policies other than WL policies, then I must tell you that WL polices are still safer & long term investments for you & your family..but going for term-life policies never allow you to go for a flat-rate premium structure.
Yes, I'd have a reason to agree that many people are now-a-days going for term life polices initially (especially the ones who are not too sure whether they would be able to keep with the premium payments), but let me also tell you that these are the same people who are returning for the age-old WL policies at a later part of their lives. And to tell you the truth, that simply becoz of the longterm assurances.
Posted: Mon Aug 04, 2008 04:31 pm Post Subject:
This is very true. On less developed countries, only a few people have insurance coverages. They could not afford to pay for life insurance premiums. Although, they can afford to get a term policy, they are less attracted to it because of its limited protection. Most people would like to have a money back in their retirement age. That is why most of them would prefer to invest on a whole life participating plan. But if a person really understand the real meaning of insurance, they would get at least a term plan for their own personal financial protection.
Posted: Tue Jul 29, 2008 05:57 am Post Subject:
hi..If you're asking whether most of the people would maintain life insurance till its maturity...my answer would vary between places. Let me inform you that in underdeveloped nations only 1-2% of their population are covered for life, while for a developing nation its about 5-6%..let me also tell you that this percentage would increase to around 90% for developed nations.
This difference has its root in difference of earnings for different economic segments! On the other hand if you're enquiring about whether people are more eager to keep term life policies other than WL policies, then I must tell you that WL polices are still safer & long term investments for you & your family..but going for term-life policies never allow you to go for a flat-rate premium structure.
Yes, I'd have a reason to agree that many people are now-a-days going for term life polices initially (especially the ones who are not too sure whether they would be able to keep with the premium payments), but let me also tell you that these are the same people who are returning for the age-old WL policies at a later part of their lives. And to tell you the truth, that simply becoz of the longterm assurances.
Posted: Mon Aug 04, 2008 04:31 pm Post Subject:
This is very true. On less developed countries, only a few people have insurance coverages. They could not afford to pay for life insurance premiums. Although, they can afford to get a term policy, they are less attracted to it because of its limited protection. Most people would like to have a money back in their retirement age. That is why most of them would prefer to invest on a whole life participating plan. But if a person really understand the real meaning of insurance, they would get at least a term plan for their own personal financial protection.
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