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Buy Health Insurance Online and Save
It is now possible to thoroughly research and buy health insurance online. Without health insurance, the smallest of incidents, accidents, or illness can leave you with expensive medical bills that most people would have difficulty paying. Even a...
Getting cheap term life insurance
Many people considering life cover will look for cheap term life insurance, because it is probably the simplest and least expensive way to protect their partner's and family's financial future in the unfortunate event of their death.
If you have...
Guide to Car Insurance
Here is a useful guide to car insurance. Buying car or motor insurance is important as it is legally enforced in the UK . You are required by law to have a policy to cover your liability to other road users. Car Insurance protects motorists and...
Health Insurance, medical insurance and individual health insurance plans.
Health insurance is something that everyone needs today. The rising cost of visiting a health care provider or a hospital stay makes it imperative that everyone have some type of health care coverage. Government statistics estimate that over 40...
Insurance Glossary ot Terms
Assured - Those insured under the terms of an insurance policy. Benefit - The money paid to the policyholder when a claim is made. Bid Price - The selling price or cash-in value of your unit holdings. Bonus - Relates to a with-profits...
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Term Life Insurance Explained
Term life insurance does not build any kind of cash value, which
makes it an original type of life insurance and considered pure
insurance protection. Unlike whole life insurance, term life
insurance is only temporary and only covers a specific term, or
a specific period of time in a person's life. Benefits will go
to a beneficiary only if the insured person dies during that
specific window of time.
Term life insurance is usually the cheapest way for people to
purchase a death benefit package on a per dollar basis. The
reason for this is because the term will expire and the insurer
will not have to pay out.
It is recommended that people should purchase term life
insurance with the Theory of Decreasing responsibility in mind.
The Decreasing responsibility theory is provided that the
insured person or persons realizes and understands that any and
all financial responsibilities are only temporary and that they
should purchase insurance to compensate for these
responsibilities.
The easiest and simplest way to purchase term life insurance is
on an annual basis. The premium to be paid is only the expected
probability of the person dying within that period plus a few
extra fees, such as a cost and profit component. Because
insurers are able to choose whom they decide to ensure, the
probability of someone they choose to insure dying within the
next year is extremely low, most people opt not to purchase
one-year terms. An annual policy is not very
cost-effective
either. Many people choose to go with annual renewable terms
(ART). In ART, a premium is paid for the coverage of one year
and then is guaranteed to be continued each for so an X number
of years, which could be anywhere from ten to fifteen to twenty
years or more, whatever the insured person decides on. Even
though this direction will cause the insured to pay a higher
premium, they are more likely to have the benefits paid.
A level term is a very popular form of term life insurance that
is a renewable annual term with a constant premium for an X
number of years. The years in a term are usually 10, 15, 20, and
30 years. A level term charges a higher premium for a longer
amount of time simply because as people get older they are more
expensive to ensure, and their age is averaged into the equation
for the premium.
Even though they are more likely to be paid the benefits in the
end, many people are uncomfortable with regular life insurance
for one reason or another. For those types of people, term life
insurance is an excellent choice. It gives people the option of
having life insurance for a certain period and can be renewed
annually or in larger periods.
For more information about term life insurance, visit
http://www.terminsuranceinfo.com
About the author:
David Chandler For your FREE Stock Market Trading Mini Course:
"What The Wall Street Hot Shots Won't Tell You!" go to:
http://www.stockmarketgenie.com
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