I want to start the 2010 with an article about life insurance. Many people find this morbid topic, but believe me when I say this contract is as important as the will and should only be taken as seriously as health insurance. Due to the length of the details of this article are provided chapters for easy reading. I hope it will educate you on life insurance and the importance of its needs. (Note: For a better understanding of "You" is the policy owner and insured)
sections:
1 = Introduction
2 = When / If you have life insurance but
3 = difference between the insurance agent and broker
4 = type of policy
5 = What are the popular types of riders and drivers
6 = medical exam
1) A universal life insurance:
This is a contract between you and the insurance company to pay a certain sum (premiums) for the company in exchange for benefits (called a death benefit, face amount, or amount of the policy) to the user (the person you want to get paid at the time of your death). It can range depending on the type of policy (which will be discussed at the moment), your health, hobbies, insurance company, how much you can afford the premiums, the amount of compensation. It sounds overwhelming, but it's not if you have the right agent or broker.
This is a contract between you and the insurance company to pay a certain sum (premiums) for the company in exchange for benefits (called a death benefit, face amount, or amount of the policy) to the user (the person you want to get paid at the time of your death). It can range depending on the type of policy (which will be discussed at the moment), your health, hobbies, insurance company, how much you can afford the premiums, the amount of compensation. It sounds overwhelming, but it's not if you have the right agent or broker.
Now many people can say that life insurance is like gambling. You're betting that you will die at a certain time and the insurance company bets you will not. If the insurer wins, they keep the premium if he wins ... good death, a death benefit goes to the user. This is a very morbid way of looking at it and if so you can say the same for health insurance, auto insurance, and najam.Istina is, you need life insurance to ease the burden of your death. Example 1: A married couple, both professionals who earn very well for the life of a child, and like every other family has a monthly cost and a couple of smrt.ViĊĦak spouse goes back to work the next day is very slim. Courses in the fact that your ability to function in your career that will reduce the risk of causing not being able to pay or to use their savings or investments to pay for these costs, not including death taxes and funeral expenses. This can be financially devastating. Example 2: lower middle-income families, death occurs to 1 of income. How will my family be able to retain their current financial lifestyle?
life insurance is the ability to reduce the risk of financial burden. It may be in the form of money or simply through tax estate planning.
Key definitions:
Insured: A person who is covered by the insurance company (he / she does not have a policy owner)
(policy) Owner: he who pays the premium, user control, and basically has a contract (not insured ... we hope you'll understand that it can be either / or) <. / P>
nominal amount: Also known as Death korist.Iznos paid to the user.
User: Is the person / persons / organizations that will receive the face amount (death benefit)
2) When / If you have life insurance:
2) When / If you have life insurance ...
2) When / If you have life insurance ...
First, you should review your beneficiary once a year and your policy about once every 2-3 years. This is free! You must ensure that users are the people / person you want to get paid! Divorce, death, disagreement, or anything of that kind can change your mind about a particular person to receive the benefit to make sure that you have the right people, real estate / trust and / or organization (profit opportunities) in order to receive compensation. Furthermore, to be reviewed every 2-3 years because many companies can offer lower premiums or increase benefits if you renew your policy or if you find a competitor who can see you've been paying premiums to compete for your business. Either way, this is something that should be taken into account that it save money or raise policy! It's a win-win for you, so it should be no reason not to do.
First, you should review your beneficiary once a year and your policy about once every 2-3 years. This is free! You must ensure that users are the people / person you want to get paid! Divorce, death, disagreement, or anything of that kind can change your mind about a particular person to receive the benefit to make sure that you have the right people, real estate / trust and / or organization (profit opportunities) in order to receive compensation. Furthermore, to be reviewed every 2-3 years because many companies can offer lower premiums or increase benefits if you renew your policy or if you find a competitor who can see you've been paying premiums to compete for your business. Either way, this is something that should be taken into account that it save money or raise policy! It's a win-win for you, so it should be no reason not to do.
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4) the types of policies:
There are two main categories: term and permanent insurance. Within each of the two categories are sub-categories. I'll explain them at first in order for you to make the best possible choice for you and your loved ones. Remember, you can have a real estate / trust or organization as the beneficiary. (Note: There are even more sub-sub-categories within these sub-categories, but the difference is so small and that in itself is not included in this article after speaking agent will have enough knowledge to this article. You'll know what questions ask and know if a mediator is right for you ).
There are two main categories: term and permanent insurance. Within each of the two categories are sub-categories. I'll explain them at first in order for you to make the best possible choice for you and your loved ones. Remember, you can have a real estate / trust or organization as the beneficiary. (Note: There are even more sub-sub-categories within these sub-categories, but the difference is so small and that in itself is not included in this article after speaking agent will have enough knowledge to this article. You'll know what questions ask and know if a mediator is right for you ).
term insurance: interim policy in which the user pays only after the death of the insured (you) in a given period of time (hence the word "term"). Term insurance is usually less expensive with a lower death benefit. Some do not require a medical exam but expect to pay a higher premium from the insurance company's risk is unknown. Also, term insurance generally does not accumulate cash value (as explained in the permanent insurance), but can be bought at the top of your permanent policy (for those who may already have coverage ):
Full term: The ability to convert the permanent policy. There are some really good rules that require a medical review, driver history, hazardous avocations or at a certain moment, to be converted to permanent coverage is guaranteed with all the benefits of permanent insurance policies has to offer.
renewable term:. You will be able to renew the term policy without evidence of insurability
Level Term: Fixed premiums over a period of increase (great for those who are young and expect within 10 years a salary increase ).
Increase / Decrease in term:. Coverage increases or decreases over the term, while the premium remains the same
Group Dates: Usually used for employers or associations. That includes several people in order to reduce premiums. (Great for small business owners)
Permanent Insurance: As the name states, it provides coverage during the life of the insured. It also creates a cash value, which is fantastic for tax purposes, because if you loan money to yourself using the cash value has no tax implications. Few policies can have a general withdrawal of tax-free. However, in most cases, if you withdraw the cash value you only pay tax on premiums (the amount is increased), which is fantastic. Just make sure your agent knows that the cash value to grow larger than the death benefit otherwise subject to the 10% tax! Tradition can also be applied when the withdrawal so please contact the agent who can help you with this information. You should consider permanent insurance if you have a family and do not mind the increase in premiums (the amount you pay for) a few dollars over the term.
Traditional Whole Life:. Pay a fixed amount of premiums to be covered by the insured life that involves accumulating cash value
Single-premium whole life insurance: Whole life insurance premiums for a lump sum (usually it is a very large sum to get a large death benefit ).
Single-premium whole life insurance: Whole life insurance premiums for a lump sum (usually it is a very large sum to get a large death benefit ).
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Limited Payment Whole Life Insurance: limited payments for life, but requires more premium than you are actually paying for a short time. It may be based on payment amount (10, 20, 30, etc. payments) or a certain age (life is paid at the age of 65, 75, 85, etc. ).
Universal Life Insurance: A flexible premiums with flexible face amount (death benefit) to the unbundled cost factor. For example: If you pay X amount, you are covered for X amount of
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Index Universal Life: Flexible premium / benefit with cash value is tied to the performance of a financial index. Most insurance companies lending rate (% growth), will not go below zero.
Variable Life Insurance: Death Benefit and cash value vary with the investment performance of separate account investment options. Usually the insurance guarantee in favor will not fall below a certain minimum.
Variable Universal Life Insurance (also called Flexible Premium Variable Life Insurance and Universal Life II / 2). Variable and Universal combination of the premium / death benefit flexibility, and investment flexibility
of the last survivor universal life insurance (also called the survivorship or "second to die" insurance): Covers 2 people and the death benefit paid only when both insurers have died. This is a fantastic and somewhat a necessity for families who pay property taxes (typically high-net-worth individuals ).
5) Life Insurance Riders, what is it and why it is very important:
5) Life Insurance Riders, what is it and why it is very important ...
Rider is the name used to be added to your policy. It gives a special supplement policy which can be mixed and put together. There are so many types of drivers that I need to write a different article on Riders (and insurance companies to add new types of drivers often), but I want to at least the name of the most popular (and in my opinion, the most important) that you should highly consider when choosing a policy. Riders add the cost of premiums, but do not take lightly riders,! It can be a life saver
Rider is the name used to be added to your policy. It gives a special supplement policy which can be mixed and put together. There are so many types of drivers that I need to write a different article on Riders (and insurance companies to add new types of drivers often), but I want to at least the name of the most popular (and in my opinion, the most important) that you should highly consider when choosing a policy. Riders add the cost of premiums, but do not take lightly riders,! It can be a life saver
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Accidental death benefit Rider (AD & D): An additional death benefit will be the beneficiary if you die as a result of an accident (eg car accidents, falling down stairs). This is especially important if you travel frequently insurer, relatively young and has a family. Keep in mind:. You can purchase AD & D insurance separately
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accidental death and dismemberment Rider: Same as above, but if you lose two limbs or sight will pay the death benefit. Some Politics May offer smaller amounts if it loses an eye or a limb. This is great for those who work with their hands.
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guaranteed insurability Rider. Option to purchase additional coverage at intervals based on age or years of the policy without having to check insurance eligibility
consistently Rider: It gives you a fixed amount of term insurance added to your permanent policy. This driver can add 3-5 times the death benefit or policy. Not a bad deal!
Waiver of Premium Rider: If people with disabilities found that inability to work / earn income, giving you exempt from paying premiums while your policy is still in effect! There is a large gap between policy and the insurance companies so that the devils in the details with this driver.
family income benefit Rider. In case of death of the insurer, the driver will return for a certain period of time for your family
family income benefit Rider. In case of death of the insurer, the driver will return for a certain period of time for your family
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family income benefit Rider. In case of death of the insurer, the driver will return for a certain period of time for your family
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Accelerated death benefit Rider: the insurer who is diagnosed with a terminal illness will get 25-40% of the base policy death benefit (the decision between the insurer and the insurance company). This will reduce the death benefit, however, depending on your finances and living a lifestyle that a rider should not be taken lightly and should be seriously considered.
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6) Medical examination: ...
This part is not frightening you away, but mentally (and perhaps physically), to prepare for a medical exam, so that way you'll know what to expect and get the lowest possible premiums, while receiving the maximum death benefit. It really should not be a problem if you work regularly and maintaining healthy eating habits (notice I said a habit, not a diet. Diets do not work for long-term ).
This part is not frightening you away, but mentally (and perhaps physically), to prepare for a medical exam, so that way you'll know what to expect and get the lowest possible premiums, while receiving the maximum death benefit. It really should not be a problem if you work regularly and maintaining healthy eating habits (notice I said a habit, not a diet. Diets do not work for long-term ).
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The first part (or named part 1 or part) is complete by the agent or you. Part 2 / B support or medical dijela.Najbolji bet is to contact your agent subsidiary that specializes in mobile exams for easy test for you. Support staff will contact you to schedule sastanak.Ispit not an option, so it's not a matter of yes or no, but when and where. The entire exam will cost you nothing but time, so that time, life insurance is important!
support / doctor will take your medical history (questions), physical measurements of height and weight, blood pressure, pulse, blood and urine. Additional tests will vary depending on age and policy amount (yes, the higher the death benefit = more tests which must be provided). Now, if the policy is significant, the insurance company can not send support but require a real doctor exam. Of course, this was selected by the insurance company, so remember my advice earlier! This exam can even include the treadmill test, and more crazy tests to see if you qualify for a significant amount of the premiums low. On the flip side, if you choose low insurance, you will only have support for simple tests mentioned above without further examination.
What are you looking for: Emergency / Doctors are searching for health conditions that can shorten your life. Remember, insurance companies are there to make business and if you have commitments, then it may be a risk they do not want to either raise the premium to the risk tolerable. Blood and urine are taken to see the following:
- your antibodies or antigens to HIV
- cholesterol and related lipids
- Antibodies for hepatitis
- liver / kidney disorders
- Diabetes
- Immunity disorders
- prostate specific antigen (PSA)
- test drugs such as cocaine
Results: They were sent directly to the insurance company's home office underwriters for review. Many times you can request (must be a written request) to get a copy of the results, however, many insurance companies will automatically do it. Many times they will find abnormalities, but it usually does not care and just talk with your medical professional for follow-up (remember: the insurance company will look at these exams with a "fine tooth cone" to see what risk). Insurers will look at results and applications (remember part 1 /? well, now they want to see if you lied) and determine the premium amount. Smokers pay more. Any nicotine in your system will take into account smokers, even if only socially
defines the premium category you fit in. It really depends on the insurance company about how they are a factor, but the general rule is if you are at greater risk, you pay a higher premium. If you have standard risk, you will pay the standard premium, but if you prefer the risk, you will pay a low premium.
can reject the policy after you have received a final offer after the exam, but remember this: All the results will become part of the MIB Group database (Medical Information Bureau). This is a clearinghouse of medical information that insurance companies use to store information when applying for life / health / people with disabilities gain / long term care / critical illness insurance. So for seven years will be on the database. You can get a free report a year (such as a credit check) on their website which I included at the bottom of this article.
Now that you know almost everything there is to know about life insurance. I hope you'll understand how important it is. On May not seem like much, but the hardest part is simply to choose what type of policy is right for you. This can be done with the help of his agent. In the end, everyone is different and everyone should analyze your situation and needs of users. If you have even the slightest concern for loved ones about what would happen if no longer with us then you should consider life insurance. There is indeed a sense of relief when you know you and your loved ones are covered, no matter how you or the person does. For many who believe that their loved ones do not need the death benefit in any case ("to earn enough money to survive" is the biggest reason I hear against life insurance), it can be a simple gesture last "I love you" and appreciation for them as part of your of life.
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