Chill Maadi

Many people’s lives touch upon an insurance policy in one way or another. Sometimes, you do not realize that insurance policies are currently covering the place where you work, live or even the vehicle or journey you are traveling.

For instance, the car you are traveling on is likely to be insured by a motor insurance policy. In most countries, motor insurance is compulsory. Then, you may have purchased a personal accident policy to cover yourself against death or personal injuries arising out of an accident. Assuming you were traveling on that car pursuant to your employer’s instructions, your employer may have also purchased a group employee’s insurance policy to cover their employees who were injured whilst working. The list goes on and you get the picture.

What exactly is an insurance and why is law involved? Well, insurance is essentially a contract. In a nutshell, t is a contract between the insurance company and the policy holder wherein in consideration of the payment of an agreed premium by the policy holder, the insurance company promises to do indemnify the policy holder and / or any insured person/s named in the insurance policy against the insured perils. Therefore, you are essentially looking at a legally binding promise between the insurer and the policy holder with all the terms reduced into writing in the form of the insurance policy.

The salient features of an insurance policy would be firstly, the parties to the insurance policy namely, the insurance company and the policy holder. The policy holder may or may not be the insured person. For instance, the policy holder could be the employer (and he pays for the insurance premium) but the insured person is the employee. The beneficiary under the insurance policy could be either the policy holder, the insured person or another person altogether depending on the parties’ agreement.

Next, there must be consideration moving from one party to another. Here, there must be payment of an agreed premium before the insurance company is obliged to fulfil its promises under the insurance policy. That is why in almost all insurance policies, you will find that it starts with a preamble which declares that “In consideration of the payment of premium by the Policy Holder, the Company hereby will do … this and that”.

Just like any other contracts, the insurance policy, which is a contract or agreement, contains terms and conditions governing the rights and obligations of the parties to the insurance policy. Any dispute arising out of the insurance policy shall have to be evaluated against the terms and conditions to ascertain how the issues arising should be resolved. These terms and conditions may not usually be amended unless agreed by the parties to the insurance policy.

Apart from the above, there must also be an insurable interest i.e. there must be something which the insurance company can insure against. This can be in the form of legal interest or beneficial interest belonging to the policy holder. Unless there is legal interest or beneficial interest belonging to the policy holder, there is no insurable interest and any insurance policy issued would be rendered void.

Another important feature of insurance policies would be the duty of disclosure. Contracts of insurance are called contracts uberrimae fidei i.e. they are contracts of good faith wherein parties enter with a duty to exercise the utmost good faith and to make full disclosure of all material facts within their knowledge to the other party. Hence, most insurance policies would require that the prospective policy holder complete a proposal form and sign off with a declaration that he has disclosed all material facts known to him which may influence the insurance company’s decision whether to accept the risk or not.

Recent studies on life insurance show that more than 50 percent of the total population of the country has life insurance policies.  You can probably credit this to the increasing number of insurance companies who are willing to bend their rules just to give people the kind of coverage they want.

Often, people are actually looking for affordable or cheap life insurance rates.

However, when it comes to insurance, we know that cheap insurance does not covers well. Of course, we don’t need expensive ones so the challenge is to find one insurance rates that will suit our budget and our current financial status.

Getting Affordable Life Insurance Rates

Not all people can afford expensive life insurance coverage but many people want to have some type of life insurance to protect their family for any unfortunate eventuality.  So, many people are in the lookout for affordable or cheap life insurance rates.

Basically, however, if you want the best life insurance rates, you need to be perfectly healthy.  You shouldn’t be at any risk of developing a terminal illness and you shouldn’t have any existing illness.  People who can claim perfect health can also claim preferred life insurance rates.  “I’m healthy, but I may have some minor health problems.  Can I qualify for preferred rate?”

Unfortunately, no matter how much you would like to get the preferred rate, you cannot do so unless you are completely and perfectly healthy – without the slightest form of health problem.

Getting Cheap Life Insurance Rates

How to get cheap life insurance rates for your policy? It is a better idea to obtain as many life insurance quotes before you apply for a policy, because the premiums can vary according to the provider. For this, shop around in banks or other financial organizations to get the most competitively priced life insurance policy. The easiest way is to hunt online where you get instant free quotes. However, quotes are just a guide as they can change at any time.

Another thing to keep in mind while applying for life insurance is to be honest while filling out your application form. Also have a detailed check on the terms and conditions offered by different insurers. Consider the insurer’s financial stability and strength as well as the conversion options and restrictions for a policy before a deal. Some insurers offer cheap life insurance rates, but will be having some fraudulent things inside the premiums. So be careful while selecting a life insurance policy with cheap rates.

Getting Life Insurance Rates from Online Companies

There are many reasons why you should consider getting your quotes for life insurance rates online.  First and foremost, getting quotes for rates online is quicker and easier than locating all local insurance companies.  With just one click of a mouse button and you’d have access to numerous insurance rates.

Another reason why you should consider getting your quotes for life insurance rates online is the rates themselves.  You’d find the cheapest insurance rates online.  This is because online insurance companies incur lower overhead cost than your local insurance companies.  Advertising and marketing expenses online are also cheaper than offline advertising.

There are many online websites that offer reviews of online companies.  You’d find comparative reviews of the various life insurance rates online.  So, you’d most likely find the best rate online than you could offline.  All you just need to do is to look.

Most of us would like to have our financial status secured, but as we all know, we have to undergo several things before attaining that goal. If we are already able to achieve that certain level, then we can be sure that we already have the means to provide for our family with the things that they really need.

Some of the things under consideration are the basic needs of the family, college education and even just maintaining for the everyday lifestyle of the family. These things are very important aspects to consider at this point in time.

That is why more would want to avail of a whole life insurance. What is a whole life insurance, anyway? When we talk about this particular insurance policy, you are sure that you will be given security all throughout your whole lifetime, unlike when you consider getting a term insurance which only functions for a limited amount of time. Probably one of the best things that a whole life insurance policy may brag about is the fact that it builds cash value, in which the aspects mentioned in term insurance policies falter upon. One claims the cash value gotten from a whole life insurance in the form of a return. As long as you withdraw or borrow a considerate amount of your cash value, you may consider the amount as tax-deferred. These are just some of the advantages of whole life insurance compared to the other types out in the market.

There are also different types of whole life insurance, just like the other forms out in the market. Whole life insurance may be classified as a traditional, single premium and interest sensitive. Traditional whole life policies guarantee to give you the lowest possible rate of return made on the portion of the cash value that you have acquired.

IN the case of an interest sensitive policy, a valuable rate is provided into your cash value, much similar to a rate mortgage which is open for some further adjustments. Most people tend to avail of a whole life insurance because it has a wide range of choices, and you may choose just about anything which fits your qualifications.

There are several advantages of whole life insurance. The money which an individual has paid for his premium goes towards the cash value he has obtained. Right when the total of the premium money has been collected, it could soon pay off the price you have been giving for the premium after several years. Another marked advantage of whole life insurance would have to be the absence of a medical exam in a whole life insurance. All you need to do is to avail of some forms, have it evaluated and approved, and presto-you have what you need.

Remember to choose the best insurance companies out in the market before wanting to have a whole life insurance. It would be better if you are sure that you would be getting your money’s worth.

Most people would rather discuss the term life insurance with the agents simply because it is more affordable compared with the whole life insurance. However, what many of these individuals fail to see is the fact that the whole life insurance is meant to cover the medical and hospitalization bills, among others, throughout one’s life span. This is only possible of course when the monthly premiums are done and settled with.

The policy does not expire unlike the other type. More so, the whole life insurance quotes are often sought by those who earn a good deal of income since these policies are indeed costly. To make things even more vivid, the whole life insurance is a kind of policy that stays permanent as long as you as the holder stays alive and as long as you desire to continuously pay for its premium. What makes the whole life insurance quotes somehow pricey is the idea that a payout will occur in the event of your death.

Also known as the permanent insurance, a whole life insurance ensures you of a cash value as long as you live. Basically, its premiums are higher and more expensive as influenced by the rest of the additional fees and charges therein the policy. The whole life insurance policy is actually designed for you to take advantage of. The beneficiaries that you state in the policy will enjoy the cash payout when you die but as long as you live, you continually enjoy the cash benefits associated with the premium as it covers your hospital bills, medicine expenses, and even borrow some amount from it to be able to pay for your existing debts.

Among the appealing reasons that can prompt you to secure a whole life insurance quote are as follows–if there are elderly people, a spouse, or dependent children under your care, if you fear that a term life insurance may expire by the time that you will be less capable of paying for it, if you intend to secure your family’s future with the establishment of an estate, and if your loved ones would certainly need the cash benefit out of the policy to settle the estate taxes and other payable.

Whole life insurance quotes are very much available online. The application forms which the life insurance companies provide the would-be clients are accessible as you log on to their websites. The request for whole life insurance quotes is definitely free of charge. That makes it easier and more convenient to shop around for the whole life insurance quotes. Comparing them is also a must for you and this is the best way of acquiring nothing but the best offers.

As further advised by the experts, the whole life insurance quotes are nonetheless best to apply for if you love somebody more than you love your own life. After all, the whole life insurance policy does two important things. First is to protect your family against future financial worries. Second is to enable you to save something for the future.

One of the most popular types of insurance nowadays is the term life insurance. Most of us are not really aware of the policies that a term life insurance brings upon those who avail it.

What is term life insurance, anyway? If you are a person who would want to sign up for a plan which is deemed to be low-cost and efficient at the same time, then a term life insurance will probably work for you. A lot of television and print advertisements make it a point to reiterate the good points of a term life insurance for those who want to seek financial security for a limited amount of time. For most of us who would like to provide a low-cost way of providing financial security for your family, then a term life insurance is just for you.

A term life insurance gives you the biggest instant death benefit by only using the minimum amount. If you compare a term life insurance to other insurance life policies which are very conventional, this one is relatively cheaper. A larger coverage of purchase can be obtained by this plan because of the availability of its reasonable rates, compared to those made by a permanent life insurance. If you want to pay for the insurance, the policy will give you a specific period of time, usually ranging from aobut five to thirty years, so it would not be too hard on your part. Judging from those aspects, this is just a temporary insurance made for a definite period of time. It does not also accumulate cash value, compared to whole life or even universal insurance.

In short: Term Life Insurance provides the biggest benefits upon death but the trade off is that there is generally no return value for this insurance.

Now upon the things stated beforehand, it is probably easier to figure out what is term life insurance. All you need to do is to point out what are the types of term life insurance you exactly need. First, there is the decreasing term. In this type of term life insurance, the premiums stay level until the term of the policy is being carried out. In this case, the decreasing term is availed by people who are expecting their insurance needs to be reduced over time. In some cases, people avail of this term when paying for a mortgage or business loan.

In the case of an annually renewable term, the premium that you have has the tendency to increase every year. This type of term life insurance is purchased by individuals who belong to the younger age gap looking for a cheap insurance policy when they are young, but the premiums now become expensive as they grow old.

These are just some of the things which will enlighten on your perpetual question-what is term life insurance? Remember that this type carries a considerable difference than the other types of life insurance out in the market. It is very important to remember that one should make sure of the company in which he applies the policy in so as he would get his money’s worth.

Deciding on the purchase of a life insurance as early as now is a vital move that you can do especially when what you have in mind is the assurance for your loved ones that even if they lose you, they will be financially secured.

Most young individuals don’t necessarily need a life insurance but you have to realize that you will need one as you age.

Why is it so? It is because your concerns become more profound. And the payment that you need to settle in line with your life insurance likewise rises as you age through time. The reason behind this is because of the fact that you become more prone to sickness and other accidents. Of course, your insurance company would want to pay for as little as possible so the life insurance premiums are adjusted to become higher.

Now when it comes to the choice of a life insurance policy, there are literally a lot of options that you can choose from. Have a brief look at the different types of life insurance and then determine which may fit you best.

The term life insurance. This is one of the most popular and commonly applied for types of life insurance. This type of life insurance policy is far cheaper than that of the permanent life insurance. If you think your finances are not that enriched, then this can be a good choice. But you need to know also its advantages and disadvantages. The good part of the term life insurance is that the payment is less expensive. Also, it can be affordable despite your meager financial sources.

However, its downside is that the insurance is only crafted to cover a specific span of time. As it expires, you lose all the benefits that you can reap out of it. Meaning, if you die after the time period which it covers, then your beneficiaries get nothing. But of course you can renew the policy if you want to.

The permanent life insurance. This type of life insurance comes in a myriad of selections. Among of which are the whole life insurance, the survivorship life insurance, and the universal life insurance. As a point of difference, the whole life insurance is considered to be a conservative type. It demands for a fixed rate to be paid for the premium.

On the other hand, the universal life insurance allows the holder to determine the amount of money that he is willing to invest on the policy. Meanwhile, the survivorship life insurance insures two people and the cash out is provided upon the death of the second member.

The different types of life insurance makes it possible for the would-be policy holders to obtain as much choices as needed in order for them to be able to pick out only the best deal that will be most appropriate for their needs. So that you will not be left in a daze, it would be wise to shop around for the different types of life insurance before marking your final choice.

Most people who want utmost financial security when it comes to their future invest in a life insurance policy. A life insurance policy is a contract made between the insurer and the policy owner. The insurer agrees to pay a specific amount of money upon the incidence of death or a terminal illness on the insured individual.

Because of its seemingly popular image for most of the individuals who seek for financial stability in the future, more and more people wonder how life insurance work. This article will hopefully shed light on the subject.

You should review the offers provided by different insurance companies so you could be sure of what you are bound to allocate your money for. The key element to figure out what is the best plan for you is to determine your financial status and as well as your stage in life. Do you have an ample amount of income to finance a whole life insurance or do you just want to have a considerable amount of money for a short period of time? Do you have children you want to provide for when it comes to their college education? These are important points to consider when you want to have a life insurance.

After choosing the plan that you want, you have to pay the insurance company every year, usually in a monthly basis, and the amount that you pay for is called a premium. The amount of money you pay will vary on the type of insurance that you have entered a contract in. If you were able to have a term life insurance policy, then you are paying premiums only for a specified number of years, ranging from about five to thirty years. Most people would like this type of insurance policy because it is relatively cheaper, but however, it does not accumulate cash value. If you want a type of life insurance which will stay with you for a lifetime, then it would be better for you to have a whole life insurance policy. In this case, the policy will cover you for a lifetime.

The insurance company invests the premiums that you give out to them, and the cash value accumulates as time goes by. In this case, you can be sure that you are really able to save some money by just paying the monthly premiums involved in the policy.

Now that you know how life insurance work, it is time to apply for one which you like. As you can see, you will not have any confusion regarding how life insurance work, because it is pretty much simple. In totality, most people would prefer any of the two types depending on their needs and financial security purposes.

Just remember to choose the best company to provide the life insurance for you, so you would not have any doubt or whatsoever regarding where does your money go to. You can never go wrong with a life insurance as a means of ensuring your financial security.

Life insurance agents commonly have the same tag line as they endorse to you the terms that their policies contain. They use the sweetest flowery words which directly cut through your sense of rationality so that you will be prompted to purchase a life insurance policy from them. Clearly speaking, a life insurance policy offers you two things–peace of mind and then financial security for your family.

As you know, nobody can tell the exact moment when the life which you have been lent with would be taken away. Have you imagined this sad and momentous day to happen? Have you thought about your loved ones? What would happen to them if they suddenly lose you? So here is the logic presented by the life insurance policies. So, to further enhance your knowledge about life insurance policy and its essence, better read on.

The life insurance policy requires the payment of the premium. As it goes, the acknowledged beneficiaries are able to claim their dues at the time of the policy holder’s death. Another good point that life insurance policies boast of is that it can be used to pay off any mortgages that can truly become a burden to the bereaved family. Now who would not want this deal, right?

There are basically two broad categories of life insurance policy. They are the term life insurance and the whole life insurance. The term life insurance is generally cheaper but it is only applicable for a certain point in time. If the policy holder does not die in the course of the covered period, there is the possibility that the family may not get anything at all. The exception is of course, when the policy is renewed.

It is strongly advised that you should look into the categories and varieties of life insurance policies before finally grabbing anything to purchase. There are chances that you may encounter discounted or low rate life insurance policies but it should not be a guarantee that it will work best for you. Researching is a must. And to better do that, you can try searching for life insurance policies and companies online.

Why should you search online then? Here are the top reasons.

There are numerous life insurance companies websites online so there is an increased chance of getting hold of the reliable yet cheaper life insurance quotes.

Online search is easy and convenient.

Those companies who grant online applications are generally cheaper because of the lesser document processing so that means there are lesser fees to settle.

Online advertisement is moreover more affordable than that of advertising over the television and radio networks and through the broadsheet.

Nowadays, spotting the perfect life insurance policy is no longer much of a hassle. There are tips from the experts and life insurance policy holders themselves that are available over the Internet which you may make use of as your guide in coming up with a wise decision about which life insurance policy would be best for you.

When it comes to insurance, there are people who are really skeptical. Afterall, you see nothing but a piece of paper upon paying a sum of money. Many did not see the long-term benefits of a Life Insurance policy until disaster strikes in their family. Many will even shun away from this topic because they seem to relate Life Insurance to Will because both are related to death.

Many individuals would rather opt to talk and discuss with beauty product or wardrobe agents than deal with the people who sell life insurance policies. But then again, such idea may not be thrilling or literally elegant but for the very practical beings, this topic concerts a great significance. Honestly, those individuals who prefer to better handle their finances would decide to invest on life insurance policies, so to speak.

I’m sure that if you are at this website, you are interested in life insurance. Here are some things that you should understand before you look for life insurance.

To improve the bad notion which life insurance has long been tagged with, this policy is basically crafted to protect your loved ones against possible financial constraints in the future should you as the provider for the family enter the gates of your Creator’s kingdom. You can never be sure about life as it is one of the uncertainties that the humankind has ever known. Death is said to come like a thief in the night.

So you need to secure a life insurance policy for these reasons–if you have a spouse, some children, elderly parents and relatives who are literally dependent on you, if you run your own business, if your retirement funds are insufficient enough to cater to the future of your spouse, and if you have an estate to maintain. To also enhance your knowledge about the life insurance basics, these are the uses for the policy of your choice. The money can be used to cover the expenses for your funeral and other expenditures, pay for the estate taxes and debts, pay for the daily provisions, be deposited along with your spouse’s retirement funds and as a donation to any charitable deed or institution.

Even if you don’t bear any dependents, you can still secure your own life insurance so as you will not become a burden to your family should your last hour comes. Now when choosing the policy that would serve your purpose right, you have two options to look into–the permanent life insurance and the term life insurance.

The permanent life insurance policy provides more benefits for your loved ones. They can claim against the policy at any moment that they lose you. Also, the money that can be claimed may be used to pay off other existing payable. The only drawback is that such policy is a lot more expensive than the other type.

On the other hand, the term life insurance’s benefits can only be banked on if the policy holder dies within the span of its term. These policies can be renewed too. The thing is, they are better options for those people who have lower income rates.

Now that you know the life insurance basics, you can better come up with a wiser decision.