Advantages of a Whole Life Insurance Policy

To begin with, you need to understand that life insurance falls into two very broad categories: Whole and term. The basic difference between term and whole life insurance is this: A term policy is life coverage only. In whole life insurance policy, as long as one continues to pay the premiums, the policy does not expire for a lifetime. As the term applies, whole life insurance provides coverage for the whole life or until the person reaches the age of 100. Whole life insurance policies build up a cash value (usually beginning after the first year). With whole life, you pay a fixed premium for life instead of the increasing premiums found on renewable term life insurance policies. In addition, whole life insurance has a cash value feature that is guaranteed. In term and whole-life,...

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Arkansas Life Insurance Guide - How to Find Cheap Arkansas Term Life Insurance Rates

Cheap Arkansas term life insurance rates are not that hard to find. There are many companies out there that can be of a lot of benefit to the great population of the state. According to the United States Census Bureau there were approximately 2,810,872 people living in the state of Arkansas in the year 2006. This means that the state's population grew 5.1% from the year 2000 to 2006. With so many people in the state it is very probable that there are some out there wondering about life insurance and what companies are best for your interests. Below you will see some companies that give coverage in the state of Arkansas, as well as a brief explanation about the life insurance business and how it works. Take a few moments to read up on AR life insurance business and then use your new found...

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Different Life Insurance Policies, Different Rates - But, Now's The Time To Reevaluate Your Policy

Here are the top four life insurances listed from most expensive to the least expensive.Universal life insuranceWhole life insuranceReturn of Premium life insurance (R.O.P.)and least expensive of all - Standard Term life insuranceThe least expensive may sound good but it may not necessarily be the best insurance for you and your family. A lot of people may have different policies. Two or even three. Each one covering a specific need.Okay, let's get to these important tips that could save you money when shopping for life insurance.Buy life insurance while you're young.The younger you are when you purchase a life insurance policy the better. Your rates will be much lower. Buying life insurance for your children when they are young will keep their premiums low for the rest of their lives....

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Is A Cheap Life Insurance Policy Right For You And Your Family?

When it comes to life insurance over 70% of the adults in the United States have some form. The normal routine consists of a person in their early twenties or even late thirties purchasing some form of life insurance either through their company plan or on their own. Normally this life insurance plan will require the payment of a monthly premium of a pre-determined amount with the intent that the insurance policy will pay out a death gratuity or benefit in the event the insured consumer passes on prematurely. For many individuals the premiums are at a decent rate because many insurance companies are capable of offering cheap life insurance policies provided the insured individual is relatively healthy and at a rather young age.Unfortunately as we age so does the cost of the life insurance...

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Which Insurance Best Fits Your Needs - Term Life Or Whole Life Insurance Policy?

There are two general types of life insurance; Term life and Permanent life. Term life is the simplest form of life insurance and can provide substantial coverage with affordable premiums for specified periods of time of one year (annual renewable term) up to 30 years. Permanent life is a form of insurance that spans your entire life. It is more expensive than Term life insurance, but allows you to build cash value.Determining the type of life insurance to fit your needs depends on a number of factors, including:· How long you will need the insurance· How much you can afford to spend on insurance· Your financial objectives for purchasing insurance· How much risk you are willing to takeMost of the time, a medical exam is required to qualify for life insurance. But it depends on the type...

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Underwriting Life Insurance For Diabetics and Diabetic Life Insurance Information

Life Insurance Companies differ in their "underwriting philosophy" when it comes to diabetes. Offering life insurance for diabetics can be risky if the underwriters are not fully trained. Underwriters at the insurance companies that are fluent in underwriting diabetes have the ability to look at all of these factors and determine if the company will accept them as a risk. Moderately controlled diabetes cases would usually merit a "rating" or an increase in the premium, but not necesarily a declination for coverage. If the client with diabetes that is looking for life insurance is not controlled, then there are options - it will just cost them more for coverage!Diabetic Life Insurance can be obtained no matter how severe the diabetes condition is. If the proposed insured has well controlled...

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Types Of Life Insurance Policies - Which Is Right For You?

Term Life by definition is a life insurance policy which provides a stated benefit upon the holder's death, provided that the death occurs within a certain specified time period. However, the policy does not provide any returns beyond the stated benefit, unlike an insurance policy which allows investors to share in returns from the insurance company's investment portfolio.Annually renewable term life.Historically, a term life rate increased each year as the risk of death became greater. While unpopular, this type of life policy is still available and is commonly referred to as annually renewable term life (ART).Guaranteed level term life.Many companies now also offer level term life. This type of insurance policy has premiums that are designed to remain level for a period of 5, 10, 15,...

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What is Permanent Life Insurance? Should I Choose Permanent Life Insurance Or Term Life Insurance?

What is permanent life insurance? Is it better to purchase a permanent life insurance policy or a term life insurance policy? Is it possible to find low cost permanent life insurance? It is important for those searching for life insurance coverage to do a permanent life insurance comparison to decide if a whole life policy, a term life policy, a universal life policy, a variable life policy, or even a combination of the above may be a good choice for their needs.Life insurance can be a term relatively unknown for the younger generations of this country. While the old and retired people of this great nations plan financially to leave their dependents with money so they can get through; the younger generations have not done much to protect themselves or their families in case of an accidental...

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Life Insurance Troubleshooting: Your Policy Problems Answered

While many of us understand the basic functions of our life insurance policies, it's not uncommon for questions to arise long after you purchased the policy.To help address your policy problems, we'll answer four of the most common life insurance questions to help you gain understanding and control of your life insurance policy.Questions AnsweredHow do I file a life insurance claim?To begin the claim process, you'll need to obtain a couple copies of the policyholder's death certificate. If you have trouble obtaining copies of the death certificate from the hospital or coroner's office, your funeral director should be able to get you a copy.Next, you'll need to contact your life insurance agent. Your agent will help you complete the necessary paperwork to file the claim. If you're not sure...

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Life Insurance - Top Money Saving Tips

More and more people are buying life insurance online and the numbers seem to be doubling every two years. The reasons are clear. Prices are lower on the Internet and life insurance is fundamentally a simple insurance product.Despite the underlying simplicity of life insurance, most web sites channel their online clients through a telephone based help and advice service manned by experienced personnel. They represent your safety net so if a little technical knowledge is called for, help is at hand.But it's always a good idea to have a few Top Tips in your back pocket when you're shopping online for life insurance. They'll help you ask the right questions and find the best policy.1. Always have your Life Insurance policy "Written in Trust".This means that in the event of a claim, the money...

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Honey Get the Door It's The Change in Our Term Life Insurance

"Term Life Insurance" is not just an affordable choice for many Americans needing the financial security of obtaining life insurance to cover their survivors or beneficiaries needs, or for paying debts they might owe. The concept of "Term Life Insurance" is relatively new, and is distinctly American. It is a close cousin to permanent "life Insurance", or "Whole Life Insurance" that grew out of the insurance industry of Great Britain which was founded originally in the insuring of sea vessels, their cargo, and especially the cargo so precious, human beings to be sold as slaves in the New World. The originations of "Term Life Insurance" followed two paths as it grew in the United States. The first was it was to be affordable to the American of lower or middle class economic status.The second...

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Permanent Life Insurance - Worth the Money?

Buying life insurance requires a lot of thought and planning. For most people, the choice is between a permanent insurance policy and a term life policy. Here's a bit of information on permanent life insurance to help you make a better-informed decision.Permanent life explainedPermanent life insurance will remain in effect until the insured dies, after which the death benefits will be paid out to the beneficiaries. The premiums on permanent insurance are designed to remain equal throughout the life of the insured. Premiums are high because permanent life policies develop cash values that can be accessed by the insured through surrenders or through loans against the policy.The cash values in permanent life insurance policies typically include two components:A guaranteed cash value, already...

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Life Insurance - Bargain Life Insurance When You Take Out A Pension Policy

At last, a real life insurance bargain - but as always there are strings attached!If you take out a new pension policy after 6 th April 2006 and within the same premium pay for life insurance cover, then you can use your pension contribution tax allowance to reduce the cost of your life insurance. This means if you're a standard rate taxpayer, you'll receive 22% tax relief on your life insurance premiums and relief at 40% if you're a higher rate taxpayer.The combined premium you pay for your pension and life insurance will automatically be reduced by 22% by the pension provider. But if you're a higher rate taxpayer, you'll need to claim the balance to bring your relief up to 40%, on your year-end self-assessment tax return.But there are three strings attached:o The pension company must...

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The Life Insurance Quote Business is Booming, but is the Insurance Quote Accurate?

The life insurance quote business online is booming. Not only are life insurance agents quoting a more diverse portfolio of companies, but consumers are also now able to quote life insurance online for themselves. In this article, I will analyze the impact of the life insurance online quote on the insurance industry, the insurance broker, and the consumer looking for insurance.In the not so distant past, life insurance was sold, not bought. The typical agent would travel door to door, network locally, and perhaps meet with potential policyholders for dinner at their home. The "debit" agent was also a common profession. These agents would actually go to their clients and collect the premium on a weekly basis. The life insurance quote came from a person back then, not a computer.These...

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Life Insurance and Life Assurance are Not the Same!

The average man in the street assumes that Life Insurance and Life Assurance are names for the same form of insurance. How wrong they are! But don't hang your head in shame, many financial commentators get it wrong too! Life Insurance and Life Assurance perform different financial roles and are poles apart in cost - so it helps to surf for the correct product.Life Insurance provides you with insurance cover for a specific period of time (known as the policy's "term"). Then, if you were to die whilst the policy is in force, the insurance company pays out a tax-free sum. If you survive to the end of the term, the policy is finished and has no residual value whatsoever. It only has a value if there is a claim - in that context it's just like your car insurance!Life Assurance is different....

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