life insurance

Long ago, life was used as a way to help save money for future use in the funeral and help the family of the deceased. This approach is however limited to "burial club" members of the Roman Empire. But now the 21 century, covering the life after death not only support, but for almost all other charges as well.


This type of insurance is a contemporary public access in the late seventeenth century. Since then, this trend has become very popular, and in fact, is one of the most common ways to protect yourself financially.

Common interests

Some famous uses of this life insurance policy to cover death benefits such as funeral expenses, mortgage payments, replacing the lost income that the deceased's family rate, to pay estate taxes, retirement benefits and much more.

How it works

Basically, there are three parties in the life insurance policy if the insurer or the insurer, the insured and the beneficiary. Normally, the insured and the insured are the same person, but the main party to the contract, the beneficiary to receive insurance proceeds after the death of the insured.

Less life insurance, the insured pays a premium to regulate the insurer or the company in exchange for a guarantee of the proceeds of insurance coverage to pay for each family or the nearest of his death.

Variety

Life insurance is usually divided into two categories, life insurance, long term and permanent life insurance.

Term life insurance is the basis of the life insurance policy. "Deadline" The word clearly explain the purpose of this policy to provide coverage for a certain period of time, like 5, 10, 20 or even 30 years as specified by the insured. This policy protects the family and insurance, providing the money they can invest to replace your wages after his death. In short, this policy is a life insurance policy, regardless of their monetary value.

Permanent insurance, on the other hand must remain active until the policy matures. This policy, as opposed to term life insurance, cash value of the account, and generally have a first class of life insurance contracts. There are four permanent life insurance, which is a whole life insurance, universal life, merely to pay back, and save lives.