Explanation of Whole Life Insurance vs Term Life

December 29th, 2009 Posted in General Insurance

18 Responses to “Explanation of Whole Life Insurance vs Term Life”

  1. soulos fitzilbs Says:

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  2. pervat scheini Says:

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  3. siveldsone pson Says:

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  4. iikawascar Says:

    LIFE INSURANCE: Kamesh Goyal: I am 35 and have a term plan (cover Rs 25 lakh) with an insurance company. My annual…



  5. divien huppel Says:

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  6. gronald Says:

    A person has unlimited insurable interest on their own life and that of their spouse so you can have more than one policy.

    There are a few other cases where insurrable interest is available e.g. one business partner on another – where on death the value of the partnership will have to paid to the estate – this is limited to the value to be transferred. Another example is a creditor on the life of the debtor – for the amount owed and there is a statutory right provided for burial costs on children.

    Interestingly enough you can also take out life insurance on the Sovereign if you were holding an event that might have to be cancelled on their death.

    Insurable interest must exist when the policy is taken out but NOT at the time of the claim – which is why endowment policies (which are life insurance as well as an investment vehicle) can be traded.



  7. elis Says:

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  10. pankendick blogworta Says:

    It´s called laziness. It´s not hard to say at all, people just don´t cate.



  11. downd juri Says:

    nice



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  14. halexin urie Says:

    You should check with your insurance company
    Most policies do cover it but only after the first 5 years after taking the policy out



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  16. coryujima Says:

    if you have no ins, at all the state will help you .
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  18. rud goyojichet Says:

    Yes, universal life policies pay out in the event of an accidental death along with death by natural causes,

    Dismemberment is just that, loss of fingers, hands, feet, eyes, arms and combination's of such loss,, Your AD&D policy would make a one time payout to you based on the formula for the loss you suffered,, it will not make continuous payments,

    A disability could be created by that loss and you may qualify for SS disability payments,

    Private disability insurance rarely pays long term disability payments, 6-months is probably the max,,,, It's geared toward covering you while you are out of work recovering from surgery, heart attacks, and other short term medical leaves,

    The market for the AD& D policies, since they are relatively cheap compared to Universal Life, are for people to augment their other life insurance, Most AD&D policies are "double indemnity" which means, If you die in an accident, your benefit is doubled,

    The younger you are, the cheaper the insurance,, I've had my policy for quite a while and I'm paying $4 a month for 100-k worth of AD&D.. 100-k of term life would cost me 30 a month today,



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