Single Premium Life Insurance with Living Benefits (The Hybrid Product Series) | Jabar Post Indonesia/a> – This time JabarPost.Net will discuss about Life Insurance.
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Single Premium Life Insurance with Living Benefits (The Hybrid Product Series) | Jabar Post Indonesia
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expenses, can also be included in the benefits.
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.
Modern life insurance bears some similarity to the asset management industry and life insurers have diversified their products into retirement products such as annuities.
Life-based contracts tend to fall into two major categories:
Protection policies: designed to provide a benefit, typically a lump sum payment, in the event of a specified occurrence. A common form—more common in years past—of a protection policy design is term insurance.
Investment policies: the main objective of these policies is to facilitate the growth of capital by regular or single premiums. Common forms (in the U.S.) are whole life, universal life, and variable life policies.
http://brokersalliance.com (800) 290-7226
Presented by Brokers Alliance with guest co-host Joe Racich.
On Tuesday’s Show: The hosts talk about the low interest rate market driving customers to single premium life insurance solutions with living benefits and the expedited, simplified issue as well as uninsurable, the declines, postponed and the heavily rated in the senior marketplace.
With interest rates at an all-time low more consumers are electing to use single premium life insurance with living benefits for care giving later on in life. The leverage of living benefit riders and the tax advantages of cash accumulation and transfer to the next generation can be financially significant.
Many of the living benefits address long term care, catastrophic medical events, chronic illness, disability terminal illness, etc. Policies can be based on reimbursement or indemnification.
Some policies allow a one-time premium. Some policies offer return of premium and riders with an additional cost or sometimes embedded in the policy for free.) You could have more money to pay
for long-term care than the actual premium paid.
This video was produced by http://bizmediastudios.com/
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