An interest-bearing savings account included in permanent life insurance policies.
A payment or series of payments made to a life insurance policy's beneficiaries upon the death of the policy's insured individual(s).
An insurer's evaluation of an individual's health. This datum is used to calculate the individual's mortality risk.
A payment from the policy owner to the insurance company.
ife insurance quotes are price estimates made before the application process.
The price required to maintain a life insurance policy.
You can add features to your policy by attaching a document called a "rider".
Life insurance is generally free of income tax.
Life insurance is understood best by dividing all types of life insurance into three categories: Term life insurance, Whole life insurance, and Universal life insurance,
Term life insurance requires fixed payments on a fixed schedule and provides coverage for a fixed duration (e.g. 10 years). The policy only pays a death benefit if the insured individual dies before the policy expires.
Whole life insurance requires fixed payments on a fixed schedule. These policies guarantee coverage up to a certain age (usually 100 years of age). These policies guarantee a death benefit, so even if the insured individual outlives the policy, a death benefit will still be paid. These policies carry cash value, which means that they can be liquidated
Universal life insurance allows payments of any amount at any time (up to certain government-stipulated maximums). Coverage from these policies can be maintained indefinitely. These policies carry cash value, which means that they can be liquidated