Life Insurance Guard
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Get it right with life insurance Introduction to life insurance Checklist for life insurance in the USA Common mistakes with Life Insurance |
Getting it right - Life Insurance in the USA
Buying life insurance is NO FUN at all and is not like any other purchase you will make. When you
Hot Topics
- What is Term Life Insurance?
- Term Life Insurance is a category of insurance that will payout a lump sum to you or your family if you die or fall terminally ill during the term of the policy.
- What is Whole of Life?
- A Whole of Life Assurance policy has no predetermined termination date and it will continue in force until the policyholder dies or they surrender the policy.
- Will my medical history affect my life insurance premium?
- Yes it will. When an Life company decides how much to charge you, it works out the statistical chances of you dieing within the term of the proposed policy
- Complaints about a Life Insurance Adviser
- If the Life Insurance Adviser is regulated by the Financial Services Authority then he will have provided you with his Terms and Conditions at the very first opportunity.
pay your dues or premiums as we've been conditioned to call it, you're buying the future financial security for your family that only life insurance can provide. Among its many uses, life insurance helps ensure that, when you die, your dependents will have the financial resources needed to protect their home and the income needed to run a household.
Choosing a life insurance product doesnt' have to be a tough decision, but it often can be com-plicated. As with any major purchase, it is important that you understand your needs and the variety of options to choose from.
The information in this brochure has been compiled by the American Council of Life Insurance, a trade association of more than 600 life insurance companies. Collectively, these companies provide about 90 percent of the life insurance in force in the United States.
LEARNING THE BASICS
The best way to make an informed decision about buying life insurance is to become familiar with the basics.
Why do I need life insurance?
Life insurance is an essential part of financial planning. One reason most people buy life insurance is to replace income that would be lost with the death of a wage ( life insurance ) earner. The cash provided by life insurance also can help ensure that your dependents are not burdened with significant debt when you die. Life insurance proceeds could mean your dependents won't have to sell assets to pay outstanding bills or taxes. An important feature of life insurance is that no income tax is payable on proceeds paid to beneficiaries.