The return of life insurance is a method whereby the life insurance company, which insures the life of the insured, transfers part of the risk to another company called reinsurer and life insurance company called the assigned company or the original company. The main purpose of reinsurance is to reduce the risk of insurance The …
Deferred life insurance means deferring protection (death risk coverage) in the early years of issuing the document. Therefore, the protection does not start from the time of issuing the document but starts from a future date called the deferred date. However, the installment starts from the time of issue The term of the document is …
Is a temporary life insurance but includes a condition that allows the contractor to convert the temporary document into any monetary value document such as a life insurance policy or a life insurance policy at the same normal rates for co-insurance or life insurance without medical disclosure. A young person can buy a low cost …
Life insurance provides a monetary benefit to a decedent’s family or other designated beneficiary, and may specifically provide for income to an insured person’s family, burial, funeral and other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity. In …
· Disability insurance policies provide financial support in the event of the policyholder becoming unable to work because of disabling illness or injury. It provides monthly support to help pay such obligations as mortgage loans and credit cards. Short-term and long-term disability policies are available to individuals, but considering …
