For example, the older a person is, the lesser the coverage will be and the higher the premiums are. This is a huge disadvantage which is why life insurance should be taken at a very young age to avoid making huge term payments. The Pros and Cons There are numerous benefits to taking Life Insurance Policies which can be availed by almost anyone. These are as follows: • Tax savings arise as the amount insured via life insurance is exempt from taxation and can be claimed as a deduction from total income. This lowers the tax burden significantly.
This is because of the double benefits a term life insurance may avail by a policyholder from a life insurance company. It may benefit you from certain limit of income tax exception when you have a life insurance policy. Most of the people are working group and earn a taxable income. It is advisable to take such life insurance policy with high amount of sum assured to get more benefit with a single policy, when your income rises every year. A singly life insurance policy may benefit you for a longer time for such tax exemption on taxable income by salary or
The effectiveness of the product Is suitable if it is available to all people. The product is life insurance, and the benefits go far beyond paying for burial expenses for those insured. The benefits include improving the economic, social, and stabilize the financial foundation for the effected families. Life insurance is not something that is widely utilized, and
Building up cash value is another advantage of whole life insurance. The insurance company’s investment to the policyholder’s premium will return in the form of cash value. The policyholders will have tax benefits to the cash value that is generated and it can also be borrowed by the policyholder to a certain amount from the cash value
Several years ago, global economy has gone through a tough time, like financial crisis in year 2008. The economy is continuing recovering and growing. The economy of USA and other developed countries are moderately going up. It is attractive for foreign investors. The USA has found the potential markets are also emerging, such as China and India etc.
Now ask yourself, how is this a good thing or how it is beneficial to us? People are living longer today than ever before. Life expectancies are increasing, and medical innovations are making it possible. If we continue to progress and increase longevity, we also need to figure out how to traverse the costs. Living a longer life likewise means a greater strain on the economy as well as the environment.
Moreover,it was only major advanced country that experienced negative economic growth in 2008. Japan’s banks suffered less than banks in US since Japanese held much less debt than their counterparts in US.No major Japanese bank collapsed. Biggest hit was decrease in external demand. Drop in net exports was %11.8 declined. However, the US faced considerably less decline in demand rather than Japan.
As the insatiable demand for resources of China and other emerging economies seems to be slowing as a result of the efforts to rebalance the Chinese economy, growth momentum appears to come to a standstill. Chinese market has been changing, as the country has less need for more infrastructure, and thus for iron ore, steel, copper etc. The Chinese have also been moving to a model in which they create more manufactured goods from scratch, rather than assemble parts made elsewhere. This may be an explanation of the weakening of other Asian exports. This situation may lead to equally negative consequences for the poverty rates of developing countries whose growth has thrived in the shadow of China’s great but waning demand for raw materials.
2.1.2 Comparison of Advantages and Disadvantages for Types of Whole Life Insurance Comparison of Advantages for Types of Whole Life Insurance 1. Variables Life Insurance Some of its advantages are the premium value is usually fixed; which makes the policy holder can be at ease about rising premium issue. Investment variety is also one of its advantages due to wide variety investment options that available, which can offer many choices in potential growth options of invested funds to policy holder (Wright, 2015). 2. Indexed Universal Life Insurance The advantages may include above average returns when the selected index does well (Dowd, 2015).
In return, Russia attends approximately 10 % growth in 2000. The highest growth rates in the group have been reached by China in 1992 and in 2007 where growth was nearly 14 %. It can also be seen that China has had the highest growth rates in the group, and it was only in one year (1999) that India was able to surpass the growth rate in China only by a small margin (World Bank, 2015). These results indicate that high female participation has led China to achieve higher growth rates as compared to all the other BRICs nations. The historical background of female participation rate is a notable fact which supports the close relationship between female labor participation and economic potential of the country.