Modern life:-
Modern life insurance bear some similarity to the asset management industry and
life insurers have diversified their products into retirement products as
annuities life based contact tend to fall into two major category:
• Protection policies:-
Designed to provide a benefit
typically a lump sum payment in the event of a specified occurrence . A common
form more common in years past of a protection policy design is term insurance.
•Investment policies:-
The
main objective of these policies is the facilitate the growth of capital by
regular or single premiums.
Common forms ( in the U.S ) are
whole life univels life and variable life policies .
Types of life insurance:-
• Term life insurance:-
If you're looking kor 10 to 30 years of affordable
coverage term life insurance may be right for you with customized policies
you'll find protection that fits where you are in life.
Term life insurance offer:
Great protection for boost newlyweds , young parents and homeowners.
1- Coverage for a specific period of
time ,like until your reach retirement or your children are grown.
2- Flexibility to switch to longer term
permanent protection in the future.
3- A choice of policies that pay out
either monthly or i. A lump sum.
Permanent_life_insurance:-
There are the
three types of permanent life insurance.
1 :- Whole.
2 :- Universal.
3 :- And variable universal.
=> Whole Life Insurance offers:-
1:-
Great protection for preretirees retirees and other who went to guarantee
money to their loved ones .
2:- The potential to earn
excess credits which can be received in cash, accumulated at interest used to
buy additional life insurance or to help reduce premium payments or pay
outstanding loans.
3:- cash value that
increases regardless of market condition.
4:- Fixed premium payment
over time.
=> Universal Life Insurance:-
1:- Great
protection beyond the face amount of the policy.
2:- Cash value that
builds with the security of downside protection.
3:- Flexibility to adjust
your plan over time.
=>. Variable Universal Life:-
1:- Great protection for
investment savvy individual.
2:- The freedom to choose
where to invest your cash value.
3:- potential to use your
cash value for retirement or other life needs.
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