interesting in my life: Types of life insurance

Sunday, May 12, 2013

Types of life insurance

There is much talk about life insurance and the morality of them to leave post property upon benefit but not all are like that, there are several life insurance:

whole life insurance : Once certified the insured's death, takes place the payment of the sum insured as long as the conditions of death expressed in the insurance contract.

Temporary Insurance: Those insurance in which payment is to always and when the death occurs between the dates agreed in the insurance contract. Among the find temporary insurance annual renewal insurance (premium increases progressively during the course of the years), savings plans (not required the death of the insured, are paid up capital or income during retirement thereof) and Finally endowment insurance (one that requires the insured is alive to collect the premium).

The term life insurance
This type of insurance is to purchase a policy for a period of time. The insured selects certain coverage and time for which will keep insurance. This policy is very common when you need some protection for a time, like when you're paying a mortgage.

The most common terms are life insurance of one year, renewable each year for 5 years renewable to 10 years 15 years 20 years 30 years until age 65 or 70. The most recommended is the life insurance 20 years. This insurance has its advantages and disadvantages:

-Advantages: price, because as only hired for a period no charges to meet the future price of insurance.
-Disadvantages: it may be the case that it is necessary to have insurance protection for life.

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