ipl-logo

Purpose Of Life Insurance Essay

1090 Words5 Pages

Insurance
What is the purpose of life insurance?
This is the central question in selecting any type of insurance policy on the life that you need, so please keep the following statement in mind as you read through this guide.
The main purpose of life insurance is to provide for dependents in case of death.
In addition to the dependents, life insurance may be a good idea if others largely depend on your income, such as a spouse or a loan co-signer.

How do I know what types of insurance I need?
The sections that follow explain the ins and outs of life, health, disability and property insurance. The following are some basic considerations that you should start thinking about during follow-up:
1. Identify and assess the risk exposure of your own. …show more content…

Term life insurance (TLI) policies are those that pay a certain amount (the premium) in exchange for maintaining a valid policy for a certain period of time (usually 5, 10, 20 or 30 years). The policy pays you cash the amount stipulated in the policy if you die during that period (and the "long").
Availability of insurance policies on the life of the Standing pay cash compensation to death just like term insurance. However, as the name implies, and ensures that the insurance policy on the life of permanent to pay the death benefit when you die - the term "all your life." Also build permanent cash reserves of insurance policies by taking some of the premium you pay in politics, and investment in, and back interest, earnings, dividends or a combination for you. Cash reserves can usually be borrowed against after a certain period of time.
The most common type of permanent life insurance is whole life insurance (WLI), and this is what will be focusing on for most of this guide. And it provides insurance plans on a permanent whole life, "guaranteed" death benefit and build cash reserves as you pay in politics. Insurance premiums are fixed by the insurance

Show More
Related

  • Case Study: Vogel Ann M.

    324 Words  | 2 Pages

    Vogel Ann M assists residents of Warwick, NY and the Connecticut, New Jersey, and Pennsylvania tri-state area with finding exceptional insurance policies through Nationwide Insurance. Vogel Ann M is a member of Vogel and Moore Agency, a full-service insurance agency which has provided home and commercial insurance policies to its clients for over 30 years. As a third-generation Nationwide Insurance agency, you can count on Vogel Ann M to offer the industry experience you can trust when you are shopping for insurance policies. Offering comprehensive insurance plans, including auto, life, financial, business, and home insurance, Vogel Ann M can help her clients choose the Nationwide Insurance policies they need at an affordable price. Her

    Read More

  • Jackson National Life Mission Statement

    1153 Words  | 5 Pages

    Life is full of wonder and beauty yet, life is also mysterious and unpredictable as well. With that said, it is best to prepare for the life ahead no matter how long and wild it could be. Insurance companies were created for this reason; preparing for the unexpected. Whether there is a hurricane, earthquake, or fire, there are insurance companies out there that allow people to buy coverage for the unpredictable future. Jackson National Life is such an insurance company that was founded on the principles of helping its customers prepare for the future ahead.

    Read More

  • Whole Life Insurance Quotes

    430 Words  | 2 Pages

    Even more, you get permanent protection until you die as long as you pay the premium. With whole life insurance, you can add riders to your policy to make it suit your better. There are numerous riders you can choose, including disability income rider, accelerated death benefit rider, waiver of the cost of insurance, term life rider on whole life insurance policy, and so much

    Read More

  • Advance Directives In Health Care

    303 Words  | 2 Pages

    Make and keep your major health decisions with advance health care directives. While they vary by state, advance directives can carry significant importance, especially as one gets older and increasingly concerned with health care and end-of-life decisions. Typically, two basic advance directives can cover a patient’s needs: the durable power of attorney for health care and the living will. Both serve the purpose of empowering the individual concerning personal health care in the case of incapacitation by illness or injury.

    Read More

  • Long Term Care Benefits

    266 Words  | 2 Pages

    Hi Al, long-term care insurance is design to pay for nursing homes and home health care. The insurance provides adequate cost-benefit from the increasing cost that associated with health issues such as chronic and Alzheimer’s disease, strokes and those can no longer live on their own. Overall, purchasing long-term care is meant to protect you against the financial consequences of the high cost of increasing life expectancies and the resultant rise in the chance that you may eventually need some level of care. Moreover, it is important to obtain this type of policy while you are healthy enables you to receive health discounts in addition to marital discounts if you are married. With that being said, if you are in good health you can save up

    Read More

  • Why Is Long Term Care Insurance Important

    302 Words  | 2 Pages

    Many people underestimate the importance of long-term care insurance. They believe that if they have Medicare, then the cost of long-term care will be covered. However, Medicare typically only pays for nursing home facilities. That is why long-term care insurance is a necessity. Long-term care insurance will provide coverage for people who need assistance with the activities of daily living.

    Read More

  • Affordable Health Care Policy Pros And Cons

    975 Words  | 4 Pages

    Insurance companies will now be accountable to their customers for how they are spending premium dollars, and how much they are raising rates.

    Read More

  • Argumentative Essay On Obama Care

    435 Words  | 2 Pages

    Everyone isn’t expected to see rates go down or stay the same because the cost of insurance premiums vary by the region. Insurance industry profits are not a significant driver of

    Read More

  • Essay On Single Payer Health Care

    1318 Words  | 6 Pages

    Some people are at a ton of risk, such as being old or having a history of poor health. These people in poor health are more expensive to cover simply because they hold more risk for the insurance company as they require more

    Read More

  • Medicare Insurance Essay

    487 Words  | 2 Pages

    It's important to understand all the costs associated with a plan to make an informed decision. Consider how much you can afford to pay each month in premiums, and how much you're willing to pay out of pocket for healthcare expenses. Look at the plan's maximum out-of-pocket limit, which is the most you'll have to pay in a year for covered services. Not reviewing the plan annually Another common mistake is not reviewing the plan annually.

    Read More

  • Medicare In Health Care

    602 Words  | 3 Pages

    This is where one type of plan will explain what is to be expected for users. Explaining the benefits is practically as important as the application itself: for determining the value of the health care may be "service dependent" ("Medicaid", 2015). Another important term that should be well known is clean claims. Clean claims identify the health professional, health facility, home health care provider or durable medical equipment provider that has given service to verify affiliation status. In short, it identifies a lot of the medical information to make it more transparent.

    Read More

  • Persuasive Essay On Health Care

    955 Words  | 4 Pages

    Insurance companies are making a huge amount of profit. The profit that these

    Read More

  • Jeremy Fink And The Meaning Of Life Analysis

    868 Words  | 4 Pages

    Have you ever wondered why life was created and what your purpose is? Well, you probably have, you just don’t remember it. We ask ourselves a variety of questions every day. It might be a simple or hard question you are facing throughout the day, but the answer is the main thing you need to remember. The meaning of life is more than just a simple question like the others we ask ourselves.

    Read More

  • Argumentative Essay On Health Insurance

    928 Words  | 4 Pages

    Health insurance is one of the main insurances ones can have in life. Without reliable health insurance any small treatment can wipe out a person financially. " health insurance is a type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured" as defined by Investopedia, 2015. The term ‘Health insurance’ was firstly discovered in the United States during the civil war.

    Read More

  • Persuasive Speech: Life Protection Insurance And Saving Plans

    1659 Words  | 7 Pages

    A. Our newly implemented life insurance protection and savings plan is specially catered to meet all your needs in life. B. All you need to do is to start planning out your future with our financial advisors. Motivated Sequence Approach: Attention: How many of you

    Read More

More about Purpose Of Life Insurance Essay

Open Document