what is the "classic" classification of Life insur

Message Author
Add to del.icio.us
Add to YahooMyWeb
Add to Simpy
Add to BlinkList
PostPosted: Sun Aug 16, 2009 9:20 pm   Post subject: what is the "classic" classification of Life insur  

CII exam P01 provides too many types without much explanation
ggeguchadze
New member
Leave a quick message


Joined: 16 Aug 2009
Posts: 1


1.25 Dollars($)

PostPosted: Fri Oct 16, 2009 4:15 am   Post subject:   

The following is courtesy of Wikipedia. Take it for what it's worth, but it's actually pretty good:

Quote:
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.


Hope this helps, and good luck with your exam!

InsTeacher Cool

_________________
It is what it is...
InsTeacher
Forum Expert
Leave a quick message

InsTeacher
Joined: 13 Aug 2007
Posts: 707

Location: Oregon, USA
88.51 Dollars($)

PostPosted: Fri Oct 16, 2009 5:51 am   Post subject: UK still tax efficient savings systems for life assurance or  

personal pensions are tax efficient savings system, though recently in 1984 and 2006 actually everything was taxed in the UK, so, is there anything left - probably long-term savings systems? :?: :?:
_________________
Register Now to have your Insurance queries solved.
gogi
Guest






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

 

Ask Community Experts

flash plugin

Quick Links
Must See
Community
Hot topics in forums

Latest in blogs