Life Insurance Knowledgebase

One of the most important decisions you have to take when you buy a life insurance policy is naming the beneficiary. The beneficiary of your life insurance policy receives the proceeds of the policy upon your death. It might not be an easy decision for many of you. It is not always easy to decide [...]

Many people prefer whole life insurance policies because it serves two purposes – life insurance and investment. Whole life insurance is a subcategory of permanent insurance. A whole life insurance policy is one can keep for as long as you live and that will pay the face amount to your beneficiaries. It has a level [...]

Life insurance can be a touchy subject: after all, no one likes to be reminded of their own mortality. However, purchasing life insurance is very important. If you have loved ones or other financial obligations that your existing assets would not be able to cover in the event of your death, you should begin looking [...]

Life insurance companies classify you into different rating categories based on your medical history and the results of the medical exam. Your life insurance underwriting classification, or rate class, determines how much you will pay for your premium. Because people are unique, they have different rate classes, based upon health and lifestyle characteristics. Although each [...]

A rider is the additional coverage can be added to your existing life insurance policy. The two most common riders offered by life insurance companies are the waiver of premium and accidental death benefit riders. These two riders are two hidden benefits of life insurance. If you opt for these riders by paying more, it [...]

When it comes to life insurance plans, many people prefer whole life insurance. A whole life insurance policy is one can keep for as long as you live and that will pay the face amount to your beneficiaries. Generally there are two types of whole life insurance policies: participating and non participating. A participating policy [...]

Whole life insurance and universal life insurance are similar in some ways but the main difference is that universal life insurance is like an investment. The cash value of a universal life insurance policy earns interest. There is likelihood for elevated cash growth if the market outperforms the insurer’s general account. Some insurance companies offer [...]

A life insurance policy is a promise by an insurance company to pay the beneficiary a specific amount of money when the insured die in exchange for timely payment of premiums. Life insurance companies generally offer two basic types of policies – term life and permanent life. Term life is the simplest in structure and [...]

Understand how life insurance premium is calculated is not easy. There are many factors that go into calculating the premium. The insurance company will estimate the risk you pose for the company. The risks that insurance companies fear are those that could cause you to die early.

Consider term life insurance if most of your goals are short-term and you are not as interested in saving for the long run. It offers the most coverage for the least amount of money, and is set up based around spans of time. A whole life insurance policy is the one for you if your [...]