Life Insurance Basics

If you are over 18 years of age you should educate yourself on life insurance basics. You don't have to become an insurance wizard, but every adult should know rudimentary information about life insurance. First let's take a look at the main types of insurance. They are term life, whole life, universal life and variable life. Universal and variable can be combined to make a universal variable life insurance policy. It may sound a bit confusing, but once you know the difference between each type it is quite easy to understand.

Term life insurance is the cheapest type of coverage. It does not build cash value. Cash value is money that can be used by the policy holder. Also, term life insurance lasts for a specified period before it expires. When the term is over you can renew your policy if you choose. If you die during the term, your beneficiaries receive the value of the policy. Term life is a straightforward type of life insurance but some policies may have fluctuating premiums. Make sure you understand the details of your policy before signing any binding contracts.

Whole life insurance is coverage for your whole life. It builds cash value, which means you can withdraw funds. Since insurance policies are usually tax free this allows you to accumulate funds that are tax free. Whole life insurance does not offer a lot of flexibility because the insurance company decides how to invest your cash. However, you can choose whether you want the money put into an account to build or put towards your premium payments. To learn more about the tax benefits of insurance investing, speak to a certified financial planner.

Universal and variable policies are more flexible because they do give you choices as to where to invest your money. However they may also have some disadvantages because they can be more risky. If you want to learn more about the types of insurance, the Internet is a great source of knowledge. You can also obtain free life insurance quotes from leading companies. If you need more information about life insurance basics or want to apply for a new policy, consult an insurance agent who can walk you through the process and answer all your questions.

 

 

Life Insurance News:

 

Life Insurance must do some introspection for industry's sustainable growth - Economic Times

Life Insurance must do some introspection for industry's sustainable growth
Economic Times
In the case of the life insurance sector, the value proposition offered to customers is an aggregate of aspects such as the quantum of protection offered, addressing the long term financial goals by enabling long term wealth creation and finally, .

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Don Cornelius' Ex-Wife Stands To Make Six Figures From Life Insurance
Don Cornelius died with 2 life insurance policies worth hundreds of thousands of dollars, and the ex-wife hated will get all the money..


50 of our heroes killed by Taliban not covered by forces life insurance
Heroes killed on the front line by the Taliban died without forces life insurance, ministers have revealed...


Allianz Life Contributes More Than $1.6 Million to Local Charities in 2011
Allianz Life Insurance Company of North America contributed more than $1.6 million in 2011 to Twin Cities-based nonprofit organizations focused primarily on financial literacy and senior services...


Insurers & the 'Death Master'
For years, the Death Master File of the Social Security Administration was a valuable resource for life insurance companies when they needed it, and ignored when they did not...


Crump Group, Inc. Announces Sale of Life and Property & Casualty Insurance Divisions to BB&T
Crump Group, Inc. announced today that its life insurance and property and casualty insurance divisions are being sold to BB&T along with the rights to the Crump name...


Productcrack | Aegon Religare Life iTerm Plan - Livemint

Productcrack | Aegon Religare Life iTerm Plan
Livemint
It is a cheaper and improved version of Aegon Religare Life Insurance Co. Ltd's online term plan called iTerm. Since it is a term plan, the policy only charges for the cost of insurance. If the policyholder survives the term nothing is paid back, .

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Insurance policies may soon be available in demat form - NDTV

Zee News
Insurance policies may soon be available in demat form
NDTV
India would probably be the first country in the world to undertake such a huge exercise to transform physical insurance policy certificates into electronic form. In fact, life insurance policies are the only major retail financial product that are .
Your Insurance policies may go demat soonHindustan Times

all 7 news articles »
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Empire Life launches loyalty program
Kingston, Ont.-based Empire Life Insurance Co. Thursday announced the launch of a loyalty program that is says will help investors save on fees while investing in their future...


BB&T to Buy Crump Units for $570 Million to Build Life-Insurance Business - Bloomberg

Bloomberg
BB&T to Buy Crump Units for $570 Million to Build Life-Insurance Business
Bloomberg
(BBT), the ninth-largest US bank by deposits, agreed to buy insurance units of Crump Group Inc. for $570 million to expand distribution of life coverage. The deal would make BB&T the nation's largest independent wholesale life insurance distributor and .
Crump Group, Inc. Announces Sale of Life and Property & Casualty Insurance .MarketWatch (press release)
BB&T buys insurance company for $570MWinston-Salem Journal
BB&T to buy insurance brokerage for $570 mlnReuters
Insurance Journal -BusinessWeek -Sacramento Bee
all 85 news articles »
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Q&A: Make life insurance a premium consideration - Sacramento Bee

Newsolio (blog)
Q&A: Make life insurance a premium consideration
Sacramento Bee
By GREGORY KARP Buying life insurance isn't a sexy purchase, but it's fundamental to financial planning. That's why it's alarming that ownership of policies in the US is at a 50-year low. About a third of US households have no life insurance, .
Online Insurance Marketplace Announces an Increase in Searches for Keyword .San Francisco Chronicle (press release)
Life insurance information: What is whole life insurance?Newsolio (blog)
Budgeting for the uncertain timesBusiness Standard

all 17 news articles »
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Broker BB&T to buy Crump operations - Business Insurance

Broker BB&T to buy Crump operations
Business Insurance
EURThis is an opportunity for BB&T to become a significant and strategic player in the high-growth, high-margin life insurance distribution business and expand our property and casualty business.EUR John Howard, president and CEO of Crump, will join BB&T .
Crump Group, Inc. Announces Sale of Life and Property & Casualty Insurance .EON: Enhanced Online News (press release)
BB&T to acquire insurance brokerage Crump Group for $570MTriad Business Journal
Debevoise & Plimpton | Debevoise advises Crump Group, Inc. in pending sale of .Linex Legal (press release) (registration)

all 5 news articles »
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Life insurance information: What is whole life insurance? | Newsolio
Whole Life Insurance includes investment with a life insurance benefit. It is the most popular form of investment in American history. Whole Life is the...


Final Program Announced for Life Insurance Settlement Association's Institutional Investor Conference
ORLANDO, FL-- - LISA has announced the final program and speakers for its second annual Institutional Investor Life Settlement Conference. "This program will address the issues, opportunities and ...


BB&T to Acquire P/C, Life Insurance Units of Wholesaler Crump Group
North Carolina-based BB&T Corp. is buying the property/casualty and life insurance units of Roseland, N.J.- based insurance wholesaler Crump Group. Under the terms of the agreement, BB&T said it will pay $570 million in cash for Crump Property/Casualty Insurance Services EUR..


Little to bank on with insurance industry stocks, analysts predict - Globe and Mail

Globe and Mail
Little to bank on with insurance industry stocks, analysts predict
Globe and Mail
Canada's life insurance companies are about to begin reporting quarterly results, an occasion that in recent years has been marked by big losses and unpleasant surprises. Analysts are forecasting further losses for both Manulife Financial Corp.

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Online Insurance Marketplace Announces an Increase in Searches for Keyword, "How Much is Life Insurance"
Online Insurance Marketplace (OnlineInsuranceMarketPlace.com) Announces an Increase in Searches for Keyword, "How Much is Life Insurance" (PRWeb February 05, 2012) Read the full story at http://www.prweb.com/releases/howmuchislifeinsurance/familylifeinsurance/prweb9166637.htm..


Asian Life recovers Rs 42.5m dividends from shareholders - Himalayan Times

Asian Life recovers Rs 42.5m dividends from shareholders
Himalayan Times
KATHMANDU: Asian Life Insurance, has recovered 95 per cent of the dividend that it had distributed, within the deadline set by the regulator. The company has fallen short of recovering about Rs 2.5 million from shareholders, who have already cashed the .
Asian Life returns money, may return to business soonRepublica

all 2 news articles »
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Life Insurance Options - Retirement Planning - Pay & Benefits .
A look at choices beyond basic coverage for federal employees...


Liberty Life Insurance Company Renamed, Will Now Operate as Athene Annuity
Liberty Life Insurance Company, a retail fixed annuity and reinsurance provider, today announced it had changed its legal name to Athene Annuity & Life Assurance Company and wi..


Prudential settles with insurance regulators over death benefit practices - The Star-Ledger - NJ.com

Los Angeles Times
Prudential settles with insurance regulators over death benefit practices
The Star-Ledger - NJ.com
State insurance regulators including New Jersey's Department of Banking and Insurance have reached a settlement with Prudential Financial over its handling of death benefits from life insurance policies. As part of the agreement, the nation's .
Pennsylvania Protects Life Insurance Beneficiaries in Prudential SettlementMarketWatch (press release)
Prudential reaches multi-state settlement over death benefitsReuters
California, other states settle death claim case with PrudentialLos Angeles Times
LifeHealthPro -Sacramento Business Journal -Insurance News Net (press release)
all 62 news articles »
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A.M. Best Upgrades Ratings of Cigna Life Insurance Company of Europe SA-N.V. - Insurance News Net (press release)

A.M. Best Upgrades Ratings of Cigna Life Insurance Company of Europe SA-N.V.
Insurance News Net (press release)
AM Best Europe EUR Rating Services Limited has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and the issuer credit rating to EURaEUR from EURa-EUR of Cigna Life Insurance Company of Europe SA-NV . (CLICE) ( Belgium ).

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