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Violation of your terms and conditions agreement; … moreViolation of your terms and conditions agreement; failure to pay your loan / credit card as agreed.
The recurring price of maintaining an insurance po … moreThe recurring price of maintaining an insurance policy, essentially a subscription fee.
Most insurance companies charge their customers monthly or annual premiums in return for their providing financial support if and when a covered event takes place. A premium differs from a copayment or coinsurance in the sense that it represents the basic cost of maintaining a policy and is not dependent on services rendered.
Most insurance companies charge their customers monthly or annual premiums in return for their providing financial support if and when a covered event takes place. A premium differs from a copayment or coinsurance in the sense that it represents the basic cost of maintaining a policy and is not dependent on services rendered.
Life insurance that is paid out to a beneficiary o … moreLife insurance that is paid out to a beneficiary only if the insured party dies during a specified period, which typically lasts one to 30 years and can be renewed at set intervals.
A number of fundamental differences exist between term and permanent life insurance policies, but perhaps the biggest is the fact that term life insurance is life insurance only, while permanent life insurance includes an investing component, which accountholders can borrow against and/or use to save for retirement. Term policies tend to be cheaper than permanent policies because they lack this component. They also tend to have cheaper premiums when policyholders are young, reflecting the lower odds of death, though premiums are adjusted with each policy renewal and can become prohibitively expensive for older parties. On the contrary, permanent life insurance policies tend to be relatively more expensive early on and more affordable later in life given that the premium remains permanently fixed.
A number of fundamental differences exist between term and permanent life insurance policies, but perhaps the biggest is the fact that term life insurance is life insurance only, while permanent life insurance includes an investing component, which accountholders can borrow against and/or use to save for retirement. Term policies tend to be cheaper than permanent policies because they lack this component. They also tend to have cheaper premiums when policyholders are young, reflecting the lower odds of death, though premiums are adjusted with each policy renewal and can become prohibitively expensive for older parties. On the contrary, permanent life insurance policies tend to be relatively more expensive early on and more affordable later in life given that the premium remains permanently fixed.
Permanent life insurance that remains in effect un … morePermanent life insurance that remains in effect until the policy holder passes away and does not need periodic renewal, unlike term life insurance. It also includes an investment aspect, which entails a portion of your premium being placed into tax-deferred stocks, bonds, or money-market accounts, the proceeds of which people often use to supplement their income during retirement.
Permanent life insurance policies tend to be more expensive than term policies, at least early on, given the added investment component and the fact that premiums remain the same for the life of the policy and issuers must. Most people use permanent life insurance policies only to cover things like estate taxes, while using term policies to cover costs associated with death.
There are a number of variations of permanent life insurance, including whole life insurance, universal life insurance, and variable life insurance.
Permanent life insurance policies tend to be more expensive than term policies, at least early on, given the added investment component and the fact that premiums remain the same for the life of the policy and issuers must. Most people use permanent life insurance policies only to cover things like estate taxes, while using term policies to cover costs associated with death.
There are a number of variations of permanent life insurance, including whole life insurance, universal life insurance, and variable life insurance.
A form of permanent life insurance that incorporat … moreA form of permanent life insurance that incorporates both a death benefit and a tax-deferred cash savings component. Whole life insurance policies are unique in that they ensure a policyholder will have the same premium, interest rate, and death benefit for life. Whole life insurance policies also pay annual dividends, which can eventually be used to pay premiums.
Whole life insurance plans typically give policy holders little choice in how much they pay each month as well as how their investments are handled.
Whole life insurance plans typically give policy holders little choice in how much they pay each month as well as how their investments are handled.
A form of permanent life insurance which allocates … moreA form of permanent life insurance which allocates a portion of your premium to a tax-deferred savings account.
Universal life insurance affords policyholders a measure of flexibility in that they can choose their investments, decide how much to invest (a minimum payment is always required to fund the death benefit), and temporarily forgo paying premiums if the cash value of their associated savings account can make up the difference. In addition, policyholders can borrow money from the cash account portion in order to supplement retirement income, for example. However, it's often difficult to determine the rate of return you're getting from the savings account side of a universal life insurance policy, so it's generally a good idea to get a term life insurance policy and separately invest the money you therefore save on premiums.
Universal life insurance affords policyholders a measure of flexibility in that they can choose their investments, decide how much to invest (a minimum payment is always required to fund the death benefit), and temporarily forgo paying premiums if the cash value of their associated savings account can make up the difference. In addition, policyholders can borrow money from the cash account portion in order to supplement retirement income, for example. However, it's often difficult to determine the rate of return you're getting from the savings account side of a universal life insurance policy, so it's generally a good idea to get a term life insurance policy and separately invest the money you therefore save on premiums.
A form of permanent insurance that allows policyho … moreA form of permanent insurance that allows policyholders to invest a portion of their premiums in variety of different investment vehicles â?? including stocks, bonds, money market-accounts, and equity funds â?? rather than the typical tax-free savings account offered by universal or whole life insurance. The risks inherent with these types of investments make variable life insurance policies the least secure of the various permanent life insurance policies.
The first page (or pages) of an insurance policy t … moreThe first page (or pages) of an insurance policy that defines who is covered, what losses are covered, the term of the policy and other important information about the insurance coverage being provided.