Advantages and Disadvantages of Term Life Insurance – Understanding the Advantages and Disadvantages of Term Life Insurance There are distinct advantages and disadvantages of term life insurance. It is important to weigh both before deciding on the type of life insurance policy to buy. The advantages of term life insurance include lower premiums and covering needs which may disappear or dissipate over time. Lower premiums come...more
Advantages and Disadvantages of Universal Life Insurance – What are the Advantages and Disadvantages of Universal Life Insurance? What are the advantages and disadvantages of universal life insurance? In order to understand these issues, you need to understand what universal life is. This permanent life policy provides both death benefits and cash value. Unlike term or whole life policies, these policies allow a certain amount of...more
Characteristics of Single Premium Life Insurance – What are the Characteristics of Single Premium Life Insurance? What are some of the characteristics of single premium life insurance? The name of the insurance gives the most significant characteristic. The policyholder pays a single lump sum at the beginning of the policy. That is the total amount due on the entire policy. That money goes into investments that accumulate value quickly. The expectation is that the policy will continue to grow until the named insured dies. At that point, the entire amount of the investment would pay out to the beneficiaries. Another characteristic of single premium life insurance is the flexibility of investment options in some policies. Some policies accumulate wealth at a fixed interest rate. Others allow the policy owner to select from different investments such as stock, bonds, and money market accounts as well as the fixed interest rate option. For those that know little about the stock or investment markets, the fixed interest rate option is the safe one. But, the investment option can pay larger dividends when the stock market grows. Each of these policies comes with a...more
Characteristics of Survivorship Life Insurance – What are the Characteristics of Survivorship Life Insurance? What are the characteristics of survivorship life insurance? This type of insurance covers more than one person. The policy pays out when the last person dies. This is a common policy offered to married couples. One...more
Characteristics of Term Life Insurance – What are the Characteristics of Term Life Insurance? What are the characteristics of term life insurance? Term life insurance pays a specific amount of money to beneficiaries if the named insured person dies within the term of the policy. That is the basic definition of a term life policy....more
Characteristics of Universal Life Insurance – Understanding the Characteristics of Universal Life Insurance Understanding the characteristics of universal life insurance will allow you to make a wise choice when it comes to life insurance selection. One of the first characteristics you need to understand is the cash surrender value. Like many other permanent life policies, this policy gradually builds cash value as the policy owner makes premiums against it. The policy owner can surrender that policy at any point to receive the cash value. That value equals the amount of the investments minus outstanding loans and surrender fees associated with the policy. It is a good option for those that want a safe savings vehicle in addition to death coverage. Another characteristic is premium flexibility. The minimum required needs to cover the policy fees and deductions. As the investment value of the policy grows, the flexibility increases because that growth can go towards covering the fees and deductions. However, this can lead to a decrease in the overall value of the policy over time. This flexibility usually comes at a higher cost in fees than other permanent life...more
Characteristics of Variable Life Insurance Products – Several Characteristics of Variable Life Insurance Products It is important to understand the characteristics of variable life insurance products before investing. Each of these...more
Characteristics of Whole Life Insurance – What are the Characteristics of Whole Life Insurance? What are the characteristics of whole life insurance? First, you need to understand what whole life insurance is. This type of insurance...more
Combinations of Permanent and Term Life Insurance – The Benefits of Using Combinations of Permanent and Term Life Insurance Some people may find that combinations of permanent and term life insurance are the best for their particular...more
Evaluating Life Insurance Needs – Taking the Confusion out of Evaluating Life Insurance Needs Evaluating life insurance needs can be a bit confusing for many people. But doing a few simple things you can do to find a figure that will...more
Primary Purposes of Life Insurance – What are the Primary Purposes of Life Insurance? What are the primary purposes of life insurance? The primary reason most people purchase life insurance is to provide financial protection to their...more
Why Global & Expat Health Insurance is Essential For Abroad Staff Discovering oneself functioning overseas with no the standard 'safety net' of the NHS could bring about a sudden rash of insecurity. Nonetheless, most employers...more