July 28th, 2011
Having an investment for the future and peace of mind are two good reasons for purchasing a family life insurance policy. It will protect both parents and each child and even children that have been adopted or born after buying the policy. It is important to provide coverage for both spouses, even if one spouse doesn’t work. Managing the home, caring for the children, and purchasing and preparation of food are all quality contributions by the stay at home spouse and is considered “replacement value.” Over time your needs may grow, and the coverage amount of your family life insurance policy might need to be increased. Read the rest of this entry »
February 25th, 2011
When you buy life insurance policy, State insurance laws require that cash value life insurance policies include a policy loan provision. This means that, within prescribed limits, policy owners may borrow money on their policies if they wish to do so. Statutory provisions generally permit companies to defer policy loans for up to six months at their own discretion, although a company usually does not exercise that right. Get free quotes for a term life insurance policy!
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February 16th, 2011
Compare life insurance policies carefully. Each situation is unique and needs to be carefully reviewed.
Industrial Life Insurance
Industrial life insurance is available in death benefit amounts generally less than $2,000, while whole (ordinary) life is sold in much larger policies in units of $1,000 each. A distinguishing feature is that the premiums for industrial life insurance, sometimes called “debit insurance,” are payable on a weekly or monthly basis and collected by agents at the homes of the policy owners. Read the rest of this entry »
February 8th, 2011
Permanent Insurance
The other category of affordable life insurance policy is permanent insurance. Permanent insurance builds cash values and provides certain benefits in addition to a death benefit. Furthermore, in contrast to term insurance, permanent insurance will pay a benefit regardless of when death occurs, as long as the policy is in force. There are many types of permanent insurance. Read the rest of this entry »
February 2nd, 2011
How can a person be persuaded to drop existing cheap life insurance policy? An incomplete comparison of policies or a misrepresentation of facts might be the inducement or motivation that causes a prospect to drop existing coverages.
Misrepresentation—Agents must continually be on guard against making misrepresentations of any kind to prospects and clients. There are several forms of misrepresentation, and each is a serious breach of ethics and a violation of state law.
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January 25th, 2011
Advantages to the Business
Affordable life insurance policy and health insurance and pension and profit-sharing plans are regarded as valuable employee benefits by both employers and employees. Death, disability and illness extract high wages from business and industry in the form of lost employees, lost workdays and inefficiency. Millions of workdays are lost every year due to illnesses and injuries. Read the rest of this entry »
January 21st, 2011
Million Dollar Round Table—This prestigious organization is composed of life insurance agents who consistently sell best life insurance policy and a specified amount of term life insurance policy, predetermined annually, and who maintain membership in the National Association of Life Underwriters.
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January 12th, 2011
The concept of transferring risk and sharing losses within a group of people is based on a mathematical principle of probability called “the law of large numbers.” This principle can be illustrated by the following example:
Let’s assume that we have 1,000 men, all age 50, who want to buy life insurance policies and insure their lives for $ 10,000 each. Based on past experience and statistics, we know that exactly two of these men will die before age 51. The loss sustained by the group will be $20,000. If we divide the total loss ($20,000) by the size of the group (1,000), each member will pay $20 to cover the risk. Read the rest of this entry »
January 2nd, 2011
Companies do not all charge the same amount for the waiver of term life insurance policy premium benefit, when this is paid for as a separate item. In some instances, the charge made for this item by a company may be significant. In that event, you should be certain to select a company which charges only a small amount for this benefit. It is also quite possible that among the insurances which you carry, you have disability insurance which gives you monthly payments, for example, in the event that you become disabled. Read the rest of this entry »
December 23rd, 2010
Annuities vary as much as life insurance policies. The annuity payments to your beneficiary may begin immediately after your death. You may also specify that the payments first begin a number of years thereafter. Annuity payments under any one of the plans may be made monthly, quarterly, semi-annually or annually, in accordance with your wishes. If you designate that the annuity payments are to begin immediately after your death, the plan is referred to as an “immediate annuity”.
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