Showing posts with label Life Insurance. Show all posts
Showing posts with label Life Insurance. Show all posts

Life Insurance - Functions, Characteristics, Types, and Goals

Life Insurance - Functions, Characteristics, Types, and Goals - How Life Insurance Important? Does everyone need life insurance? the answer is: YES ...... is a must and should be soon. Do not be postponed. If we want to appreciate what is given by - his, people should keep trying. Because we will never know what will happen in the future, do the anticipation by having life insurance.
In choosing us to be observant and insurance tailored to our needs. There are Health Insurance, Accident Insurance, Insurance Education. There are so many choices, but the best option is already packed into one.

Lots going on a family must accept the bitter reality of life. The father as head of the family breadwinner at the same time to fall ill and died, leaving his wife that does not work and two small children. His son just turned 3 years and 5 years. Life remains to be served, but the wife would be very difficult to raise the cost of two children.

Keep your family from the above risks by having life insurance. If the family - at least his father - already have life insurance, would have been materially more ease the burden of the family left behind. Because it was in the hospital is certainly not cost you a bit. It could be to spend the assets owned.

That means if you already had life insurance can be said you already have Income Protection and already planning for the future of the family finances as per the agreement with life insurance policy issuer. You will definitely get the appropriate reimbursement claims from health data are given according to actual conditions. No health data engineering.

Financial planning is not something you do once and forget. Then there are many people who buy life insurance policies even more to 5, for the sake of a cherished family. To his wife and children. (Each family member can have an s / d 2 policy) Financial planning is a process for those who are single or not family. Never since his health was still good and have put off Life Insurance. The younger the age you are, the better to protect themselves immediately, have Protection and Investment Income for financial planning in the future.
The father must work hard at any time and anywhere. Continuous work sometimes forget to pay attention to health. Family for the sake of his wife and child - any child will do. But do not forget to place something on the father's health, its impact will be more difficult again. Can say it's useless in the work of many years, if the income results obtained have not set aside for self-protection.

See was the smile of children - children who need parents. They need life, to school, have cost if it gets sick.

Family life will always change and family financial planning should follow the changes in family finances. Force planning is supported by a wise investment. Investment in its most basic sense is, put your funds to get bigger results. Insured & making money investing is most important means of improving your ability to love, love their families and keep wealth.

With an account you have insurance, then you have insurance at the same time to INVEST in your future and family.

Regulatory definition:
"The company is a life insurance company provide services in dealing with risks associated with the life or death an insured person "
Definitions applicable:
Life insurance is insurance that provides kinds financial transfer of losses for the disaster that can occur in humans

Functions of Life Insurance
• Media Protection
- Provide compensation to the heirs when the insured dies within period of coverage
• Media Investments
- Provide compensation to the heirs or the insured when the insured remains live up to a certain age or until the end coverage period.

Goals of Life Insurance
• Individual life assurance, usually an insurance policy This spirit can be issued in a particular value example, Rp 10 million or more with premiums paidis an annual, semester, quarter monthly AAU
• Group life assurance is life insurance usually issued without any medical examination on a group of people under one policy where each parent of the groups receiving certificates of participation
• Industrial life assurance, premiums are generally paid paid weekly at home has policy to agents

6 Types of Insurance

Insurance is a way of risk management used to cover in case of loss. In insurance the insured pays a fixed amount of premium and in return the insurer guarantees to compensate the loss of the insured`s property or life or the insured thing in case of any damage. The premiums are being determined with insurance rate. There are many types of insurance available to insure your valuable things. But in general you can find 6 types of insurance policies that are available in the market to suit your needs.

Lets have a look at the 6 basic types of insurance that you can afford.

Life Insurance : The most valuable thing in the world is our life. So to insure life is given topmost priority while talking about the 6 types of insurance. In this insurance plan the insurer company gives the financial coverage in case of loss of life of the insured and his family. The policy holder have to pay a premium to get the coverage.

Health Insurance : Health insurance covers the health related expenses that needs in an emergency. This insurance can cover your all expenses regarding the treatment, fees of doctors, Hospital charges, medicine and also other charges in case of mishaps.

Auto Insurance : 3rd type among the 6 types of insurance is Auto insurance. You can opt for it. In auto insurance policies, insurer provides cover for damage caused by motor accident. The insured pays a monthly or yearly payment to get the coverage. In return the insured gets compensation in case of any mishaps. The insured Insurance premiums are decided on basis of age, gender, marital status, distance traveled, Vehicle classification, etc.

Disability insurance: Disability insurance provides cover an individual financially, if the person looses the work ability and unable to earn his living due any illness or accident. Two types of coverage are available, one is STD or Short Term Disability and LTD or Long Term Disability. In case of STD you can get compensation for a period of maximum 2years. In LTD the compensation will be provided for the life time.

Home Insurance : The 5th among the basic 6 types of insurance is Home Insurance. It provides coverage for your home against all the mishaps. Many different plans are now available in this section to suit your needs.

Business Insurance : Businesses can also be insured from any mishaps however its big or small. In business insurance policies the insurance company provides coverage for business property and liability. The most popular business insurance is BOP or business owner's policy, it’s a kind of bunch of policies with many kinds of coverages.

These are the basic 6 types of insurance. Although outside these 6, there are bunch of other types of insurance is also available in the market like: Travel insurance, Pet insurance, Financial loss insurance etc.

Online Life Insurance Quotes Free

Term life insurance quotes are available for all types of term life insurance policies ranging from the end of level term life insurance group life insurance. No matter the type of policy you are looking for, term life insurance quotes can be quick and easy. You just have to know where to get these quotes and how to get them.

Several Web sites, which generally have more than 500 insurance company’s life competing for the best price for your situation, now offer instant rates for term life insurance quotes. Most Web sites offer free insurance.

In order to get your instant term life insurance quotes, simply fill out an application and provide the required information as your state of residence, sex, date of birth, amount of safe, secure and safe payment period. After that, press the button gets appointments to submit your application. Once you have your appointment, you can begin to compare term life insurance policies to find the best option for you.

To obtain free life insurance customers online appointment must fill out a simple form. After receiving the contributions, you can choose most appropriate insurance online coverage. This process saves time, effort and money that customers can compare and contrast the many products from many companies. In general, customers buy expensive coverage due to the lack of research that is cumbersome and slow.

Insurance quotes free life in line are carefully examined by insurance agents, which publish an estimate to the customers. Online life insurance quote is a great way for customers looking for options for affordable coverage for life insurance policies, from the comfort of their homes or offices. Best to get a quote online for life insurance is that it allows customers to freely explore the entire market without any obligation. In addition, customers can request as many phrases as you want, and not be charged at all.

Customers can enter their personal information online on the websites of the company’s life insurance, without security problems. These companies are reputable and have much money invested in the sensitive life insurance market and therefore are secure web sites. This means personal information entered while requiring life insurance quotes will be not shared with third parties.
While choosing an online life insurance policy, customers usually opt for a company with the most competitive rates and a wide range of coverage. In addition, preference is given to a company, known for having the best support system to the customer.

Life Insurance for Cancer Survivors

Many time cancer survivors are simply out of luck the moment they want to purchase life insurance policy. It can be crushing as life insurance policy is an important factor of any solid financial strategy, particularly for a person who is young and productive.

The dilemma confronted by life insurance companies is that actuarial figuring for evaluating cancer survivors' risks is simply erroneous. There is a lot of fluctuation in each person and medical fact that cancer survivors can live long is not well understood.

Luckily now, recent medical discoveries and better knowledge on the way to lessen person's risks of having a cancer recurrence make it a lot more probable that cancer survivors can live long on into old age. Consequently, most life insurance companies currently provide insurance coverage to cancer survivors who live well on for a few years, typically 5 years, after the cancer was cured.

A few life insurance firms are increasingly even more generous. For example, by providing insurance policy at normal rates for females at forty or above who suffered breast cancer. The company criteria is that the cancer must a small and localized, still in stage one condition and physicians who certify the consumer has solid forecast for survival rate. They must also finish treatments and follow-up visits with no evidences of the cancer found.

Basics of Life Insurance

In general, may people understand that having life insurance in any form is a necessity. The policy of life insurance is an excellent method of providing protection for your family members in the event of your death. While many people understand that is important to have life insurance they may not understand that there are many different types of policies available in the world today.

One type of life insurance policy is called “Whole Life Insurance”, this type of life insurance is effective provided you continue to make the monthly payments upon the premium. This is a very popular type of life insurance because it allows you to build a cash value on the policy and is on a basis that is tax-deferred. The way this works is that a portion of the premium you are paying is put into an account of savings that the policy invests into. All interest that is earned upon the policy is put into the savings and helps to build the cash value. Once the cash value reaches a higher level, you could be required to pay the premium after age or you could be allowed to borrow against that cash value.

Another attractive benefit of having a whole life insurance policy is that your premium will always remain the same. At no time will the amount change at all, therefore as long as you continue to pay the premium each month, you will remain at the same amount for the entire time. If you choose to take a loan out on the cash value you have earned, the only difference you will have to pay is paying back that loan. One downside to this policy is the fact that you will have no control whatsoever over how the company chooses to invest the dollars you pay on your premium.

Another type of life insurance is the term life insurance policy. This policy is selected for a specified amount of time. If you should happen to pass away during the term of this specified time, then your family would then receive payment in the form of a lump sum as the contract specifies. Typically, the premiums upon this type of policy is far cheaper than other types and it does not allow you to build any type of cash value. With this type of life insurance, your premium can change or increase on a yearly basis and it generally does increase each year. It is the more expensive type of insurance that is available however it will provided your family with complete protection in the event of your death.

Florida Life Insurance

You can review Florida life insurance  online to help save you money and time. The need for Florida life protection insurance is a growing one as more people are realizing the financial need. Compare free quotes and you will be able to find the best and cheapest Florida life insurance quotes.

Tough Decisions
Realizing that you need to have Florida life insurance may be difficult for some people. After all, you are discussing issues that are a long term in the future. Talking things out with your significant other, family member of even close friend can help you resolve your issues. Having a policy to financially take care of your loved ones is a responsible thing to do.

You can look at quotes all day long, but if you do not know why you need coverage you will not be able to choose the right policy. People review their Florida life insurance quotes and start a policy because they want to make sure their family is provided for should something happen to them. This doesn't just cover the cost related to a funeral, but instead the financial support for years down the road.

When you look at your policies you need to think about how much money it would take to live off of based on your current salary. Then you try to make the right investments to make that much money for one, five, ten or more years. Because you took the initiative to open up a policy your family can pay off the mortgage, debt and even start a college education fund.

Policy Information
There are basically four types of Florida life insurance quotes you can receive. There are quotes for term life, whole life, universal life and variable life insurance. All four offer you different levels of savings as well as changes in how long you have to carry your policy. In order to choose the best one for you and your needs you should learn a little bit about each one.

Florida term life insurance quotes are the most different out of the four. For one thing term life insurance can be opened just for a temporary time. In most incidents, term coverage is going to be done for work purposes. An example would be a construction company needing to provide temporary coverage for their employees for just one particular job. This can easily be done through term insurance.

Whole life insurance is going to last longer than term will. Reviewing your Florida whole life insurance quotes is going to help you see if this is the right policy for you. First whole life is meant to last your entire life, but your premium rate should not fluctuate. Also you will be investing in this type of plan whereas your term policy investing is not an issue you will have to worry about.

The third type is Florida universal life coverage quotes. This type of coverage is going to offer you more diverse options for your investment. Florida universal life insurance quotes are for a policy that allows you to distinguish between protection, expense and cash value. When you separate these three items you can decide which area needs more attention through investments.

Universal insurance quotes have a variation that you might find a better fit for you and your family. Variable life insurance works the same way as universal allowing you a wider selection of investment options. The big difference is that Florida variable coverage gives the policyholder the chance to choose which investment route he or she wants to take.

Look Online for Rates
The lowest Florida life insurance quotes are going to be found online. The internet is a great resource for all shoppers, especially those looking for insurance. By comparing premium rates and learning about your policy options you become a more informed consumer. Now you will know if you are truly getting the best policy for your money. You work hard for your money and you want to make sure it works hard in return.

Finding Florida life insurance is a commitment. You are making an investment for the long term. When you look at your free Florida life insurance quotes you will want to see the differences in providers. You want to make sure you are choosing the one that can meet your needs and expectations. Reviewing their insurance rating may be helpful as well. The rating will explain their financial status so you will have a better idea of if the company can handle your situation.

You can find the best Florida life insurance  on this website when you compare multiple providers. Not only can you get a good look at the Florida provider information, but you can see what policies and discounts they offer with their quotes.

Life Insurance Review

Life Insurance evaluation nearly because extremely within evaluations because the Greatest Examined life insurance coverage businesses, Northwestern Mutual Life Insurance and Massachusetts Mutual Life Insurance Co. It's monetary balance ratings from raters such as Moody's and Regular & Poor's tend to be outstanding, and this makes a good A+ with regard to reliability in the Better Business Bureau. It's person life insurance coverage clients document few  issues along with condition insurance coverage government bodies. This was previously provided and then instructors and particular additional jobs. However, right now TIAA-CREF provides a number of it's items -- such as life insurance coverage -- in order to everyone. It is right now the actual fourth-biggest existence insurance provider within the Ough. Utes. It is a great organization to increase your own brief checklist when you are buying estimates, because tend to be other runners-up Guardian Life Insurance Co. of America plus New York Life Insurance Co.

This particular organization offers personal type of pension, pension and insurance coverage applications and providers in order to non-profit academic and investigation businesses. TIAA additionally offers guidance upon advantage programs and additional techniques of financial investments in order to these types of businesses.

Life Insurance Review
Company Background: Set up 1918, TIAA-CREF Insurance has become a lot of money 100 organizations.

 Instructors Insurance and Annuity Association of America (TIAA) and it's friend business the actual College Retirement Equities Fund (CREF) tended to be located in a New York and collectively position as you of the actual 100 biggest Ough. Utes. Businesses based on Lot of money Journal. TIAA can also be 1 of a few of life insurance coverage businesses to get peak rankings through all main impartial score companies:

Moody’s, A.M. Greatest, Regular and Poor’s and Fitch. Within the earlier many years of the actual twentieth hundred years, philanthropist Andrew Carnegie recognized which schools required to provide sufficient pensions in order to appeal to competent instructors, therefore their Carnegie Basis set up the actual Instructors Insurance and Annuity Association within 1918 and offered this a preliminary gave to begin its financing. Instructors Insurance and Annuity Association of America had been set up having a distinctive organizational framework created for its objective and sanctioned through the New York Condition Insurance Division.

Its main item, set annuities, offers certain pension earnings for pretty much ninety many years for all those within the educational, healthcare, social and investigation areas. As well as CREF, which supplies adjustable annuity programs, the life insurance coverage additional (TIAA-CREF Life Insurance Company) and the cost saving's financial institution, Instructors offers a wide range of lending options and providers (such as life insurance coverage, believe in providers, genuine property individual accounts, and shared money) via its business customers and reps who don't obtain profits - component of its initiatives to reduce expenses. College Retirement Equities Fund (CREF) had been set up within 1952 to supply pension earnings in line with the overall performance of typical shares. This particular account grew to become the very first adjustable annuity. Later  TIAA set up the actual TIAA Real Estate Account.

Tips for Easy Processing of Life Insurance Claims

A lot of people are investing in life insurance policies, so that it can help their loved ones financially in case of their death. Life insurance companies can easily collect their payments from you but claiming the insurance benefits can be hard if you do not have the necessary documents at hand. There are a lot of processes that the beneficiary has to go through before the claims can be received. Filing these paper documents is not easy if you do not know what to do.

There are also a lot of people who are processing their claims and insurance companies have to face all of these people's concerns. The amount of life insurance claims that will be received would also depend on the type of insurance that covers the beneficiary and the event that lead to these claims. In order for you to claim you benefits fast and easy, you will have to bear in mind these important reminders.

As the beneficiary, you should have the original documents related to the insurance policy. Make sure that you also have copies of those, in case they will be needed. Make sure that you have all the documents needed before processing the claims. This would also include your identification as the beneficiary who has the right to claim the benefits.

It is important that you get in contact with the insurance agent from whom the insurance policy was purchased. He or she will be able to give you the details and steps that you have to perform regarding claiming the benefits.

As the beneficiary, you should also be familiar with the insurance policy that you will be getting the claims. This information can be read in the policy documents and if you have questions you can also contact the insurance agent.

Consider also the length of time that you have to claim the benefit. There might be an unlimited time some insurance companies transfer the benefit to the state. This means that the process of claiming the benefit will be complicated. So better claim the benefit as soon as you have the documents needed such as a death certificate.

There are also different ways on how the money can reach you. You can either get it at lump sum or by installment. You can receive the claim after seven (7) days when the beneficiary has finished processing all the requirements.

Do not worry if you do not see any taxes taken from the amount you received. There would only be a tax of 55% in the excess of $1 million claim received.

Filing your claim can be hard and stressful at times, so make sure that you have copies of all documents needed. Make sure that you also know your insurance agent and the insurance company of the policy you purchased.

Check for available insurance that may fit your needs. It is also better if the beneficiaries have access to this information so that they can easily process the claims in cases such as death or accidents. Click here to get more information about life insurance claims.

Life Insurance With and Without a Medical Exam

Can I Get Term Life Insurance Without a Medical Exam?
When applying for a term life insurance policy, many applicants will be asked to submit to a medical examination. Typically, the exam is conducted by a nurse or other paraprofessional in the applicant's home or workplace. The purpose of the exam is to determine whether there are any medical conditions that could negatively affect the applicant's life expectancy.

Some term life insurance products require a medical exam for all applicants. Other products may require a medical exam in certain situations. Finally, some products may offer a term life insurance policy without any requirement for a medical exam or even medical history information.

The Advantages of Submitting to a Medical Exam
If an applicant is in good health and not of an advanced age, submitting to a medical exam should not be a major concern and could result in lower premiums for the applicant. When an applicant proves to be in good overall health, the risk to the insurance company that the applicant will die prematurely is much lower, and the company is more likely to offer a policy at a favorable rate. However, there are some important things to consider before submitting to a medical exam, including:

    *The medical exam may disclose a health condition previously unknown to the applicant.
    *Denial of the application due to a health condition could affect future insurance applications.
    *The examiner may find an indication of a serious health problem that is actually a symptom of a more   benign condition.

Exams Are Not Always Required
As part of the application process, insurers will usually ask a series of questions about an applicant's lifestyle and medical history. Some companies will then reserve the right to request a medical exam only if the information gathered in the initial application raises concerns. For instance, a company might ask an applicant to submit to a medical exam if the applicant:

    *Is over a certain age
    *Is or has been a smoker or heavy drinker
    *Has had a history of a serious illness
    *Is currently taking a prescription drug
    *Is seeking a high level of insurance

Some companies will issue a term life insurance policy without any requirement for a medical exam. Typically, these companies will still ask the lifestyle and medical history questions as part of the application process. However, the companies will then set premium rates based on the applicant's responses to these questions, and no follow-up exams will be required.

And some policies are designed to be issued without asking any medical history questions at all. These policies are likely to be more expensive and offer lower coverage limits to account for the increased risk to the insurer.

A no exam term life insurance policy should never be viewed as a way to get coverage by failing to disclose a known health problem. A life insurance policy may be voided if an insured provides false or incomplete health information on the application.

For anyone interested in a term life insurance policy, with or without a medical exam, Matrix Direct can assist in obtaining reliable quotes. To start the process, simply fill in the form on the right hand side of this page.

Term vs. Whole Life Insurance Information

Life insurance is an important component of long-term financial planning. While the loss of a loved one is emotionally devastating, life insurance helps ensure that the financial loss doesn't worsen the tragedy.
What type of life insurance is best for you, though? For many individuals, the question boils down to choosing term life insurance vs. whole life insurance, or some other type of permanent life insurance.
Both term life insurance and whole life insurance pay a death benefit free from federal income tax1 when the insured person dies while the policy is in effect. Let's examine the differences between them.

Term Life: Coverage for a Specified Time
Term life insurance provides coverage for a pre-defined period of time and premiums can be fixed for that period. Depending on the specifics of the policy, the death benefit may stay the same for as long as 30 years.

Whole Life: Protection for a Lifetime
Whole life insurance can span the individual's entire life and may offer cash value and can be "permanent" if the premiums are paid on time as required. The same is true of universal life insurance, another type of permanent life insurance which provides flexible premium features. Term life insurance tends to be less expensive and has lower initial premiums than whole life insurance or universal life insurance, allowing the consumer to buy a larger death benefit temporarily during years when families are raising children, paying for college and paying off mortgages.

Whole life polices can generate cash value over the course of time, as do other types of permanent life insurance. Keeping all this information in mind, make sure to evaluate your individual circumstances such as age and financial objectives when selecting a policy. If you are planning to guarantee a death benefit even if you live to an old age, whole life or universal life insurance is something to consider.

Convertible Term Life Policy
A good option is to buy a term life policy that is guaranteed convertible. When you're younger the term life insurance cost will be lower for a much larger death benefit than whole life or universal life. The long term benefit is that you can upgrade your term policy at a later date without taking another physical exam. You can also check to see if you qualify for better-priced coverage by meeting the underwriting requirements in place at that time. Your needs are likely to change over time and a quality term policy can provide the flexibility to change. Also, if you are certain you only want a policy for, say, 15 or 20 years, term life insurance is a great choice.

Think about your financial goals, too. Are you looking for a simple life insurance policy that just pays out a death benefit and nothing else? Term life insurance may be the answer if simplicity is your goal. Alternatively, are you looking for something with a death benefit you cannot outlive ? If so, whole life insurance, or another form of permanent life insurance, may be right for you.

Finally, consider your budget when selecting a policy and comparing life insurance rates. While whole life or universal life insurance does not expire and allows you to access your policy's cash value while you are still alive, term life insurance may be best for someone looking for the highest death benefit for the lowest life insurance cost.

Difference Between Term & Whole Life Insurance

What is Whole Life Insurance?
Many people wonder what the difference is between term & whole life insurance. It can help to compare term & whole life insurance to determine which type of life insurance is best for your particular situation.
Whole life insurance is a type of permanent life insurance coverage that provides a guaranteed death benefit along with guaranteed* cash values. Part of each premium payment is applied to the policy's cash value account, which grows on a tax-deferred basis (based on current federal tax laws).
Whole Life Insurance

Premiums are set at a certain amount and don't change.
Premiums are partially determined based on the age of the insured. The younger the insured is, the less expensive the annual premium.
There are guaranteed cash values or dividends that are dependant on the specific terms of the policy.
The insured can borrow against cash values.
Current federal income tax law allows for deferred tax advantages for some insurance policies.
Whole Life Insurance provides coverage for the entirety of the insured's life, generally to age 100, as long as the policy is in force.

If you need more information about the difference between term & whole life insurance or still need clarification about how to compare term & whole life insurance or which type you should pick, call Matrix Direct. At Matrix Direct, we are an insurance service company that represents established and highly-rated insurance companies. Our licensed life insurance professionals listen to you, and then recommend appropriate life insurance coveragechoices for you. For example, we can help explain the difference between term & whole life insurance.

Return Of Premium Term Life Insurance

Don't just plan for tomorrow . . . protect it with return of premium term life insurance! Deciding to buy a return of premium term life insurance policy can be a sound financial investment that may pay valuable dividends for you, your family, and other loved ones for years to come.
Also known as ROP, this type of term life insurance ensures your loved ones a death benefit if you are taken from them, but it will return the amount you paid in premiums if you're not. So, you collect whether you live or die.¹
Sounds too good to be true? It's not and you can see for yourself by filling out the form to the right and requesting a return of premium life insurance quote now!
ROP Benefits:

Solid coverage for the term you select (20, 30, even 35 years! ²)
A fixed monthly premium that does not change during the selected period, even as you get older or if your health declines.
Full benefits to your loved ones if you should die.
Can return an amount equal to the premiums you paid when the level premium period ends, if you are still living and you've kept the policy in force.

Whatever your goal, buying a Return of premium (ROP) term life insurance policy offers you the best of both worlds - your loved ones will receive the full death benefit if something were to happen to you AND it can return the amount you paid in premiums if you live until the end of the level premium period and you've kept your policy in force.
Request a free return of premium life insurance quote now! Simply fill out the short form to the right to get started.