Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Term Life Insurance - Know More About This Pure Life Cover Policy

By Floressewrt Subscribe to RSS | December 28th 2011 | Views:
loading
 
  



Life insurance is a contract between the insured person and the insurance company. The contract is about paying the assured amount of death benefit to the listed beneficiaries, in case of the death of the insured person. There are a number of different indemnity plans and policies available in these days. Term life insurance policy is one such important type of the life assurance policy. This type of policy provides a complete coverage only during the term of the safety policy. A person will pay the premium of the policy and in case of the demise of the person within the specified term period; the listed beneficiary will receive the entire amount of the death benefit. The amount received as the death benefit by the beneficiary is 100% tax free.

The saving component is missing in the case of death benefit of this policy. This means that, there is no wealth accumulation on the premium of the policy and the death benefit received will be same as the sum mentioned in the policy. In case the owner of the policy lives more than the decided term, then he is not entitled to claim the amount of the policy. Also, you cannot surrender the policy before its term and withdraw the cash in case you are short of money. Moreover, in case the person passes away before the expiry period of the term, the owner cannot claim the insurance amount.

There are various types of term life insurance policies and some of the main types are discussed below. You are required to go through the following points carefully in order to know more about the main types of term policies.

1. Level Term

In this policy, the amount of life insurance premium remains the same all through the time period of your policy. Generally, the time period of most of the term life insurance policies is for about 20 years and the term can be renewed after that time period. The 20 years term policies are considered to be best for the people below 40 years. These policies can be of 5 years, 10 years, 15 years, 20 years and more. The 15-30 years of term safety cover policies are known as the mortgage policies. This is so because they can be used to pay off the existing mortgage balances in the event of death of the person.

2. Increasing/ Decreasing Term

In this type of term policy, the amount of the safety cover, that accrues to the listed beneficiary, increases or decreases with the time. However, the premium amount remains the same during the course of the contract.

3. Convertible Term

The convertible term policy provides the owner with the right to convert the term policy into a permanent policy. This is mainly useful for the people, who may feel that at certain point of time in the coming years, they would be able to pay higher amount of premium of the permanent life assurance plans.

So, this was all about the term life insurance cover and the different types of insurance plans. You are required to go through the article carefully in order to safeguard the future of your family.

Floressewrt - About Author:
By purchasing a suitable life insurance policy, you can assure proper living of your partner and other dependents after your death. You can learn more about the various types of life insurance policies and decreasing term life insurance quotes after speaking to our expert. You should not purchase an insurance policy without having a word with our expert.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/insurance-articles/term-life-insurance-know-more-about-this-pure-life-cover-policy.htm

Related Insurance Articles Subscribe to RSS

Product liability insurance is a risk management investment
Published by Andrew Edwards on March 14th 2012 | Insurance
Market has reached a position where from it is important for every company to look for risk manageme...
 
What leads to cheap van insurance?
Published by Carleson on December 8th 2011 | Insurance
Insurers offer separate quotes for vans used for personal purposes and for commercial vans. Due to t...
 
Business insurance plans for online business
Published by Andrew Edwards on May 10th 2012 | Insurance
While starting new online business consider business insurance as the prime requirement of your comp...
 
The best insurance packages live in Maryland
Published by Insuranceindian Aauto on March 5th 2012 | Finance
Auto insurance is something that any motorist in Maryland needs to have. Many people would try to ov...
 
Just where to get the best car insurance packages in Ohio
Published by Usautoinsurances on January 17th 2012 | Insurance
It is illegal to drive your car on the Ohio highways without proper auto insurance. Some people shun...
 
Individual dental insurance
Published by Lessardcasey on March 28th 2012 | Insurance
Individual—(non-employer-based)--healthcare coverage can be difficult and expensive to acquire. Wi...
 
Georgia health insurance plan is excellent option for your health cover
Published by on June 23rd 2012 | Insurance
Only getting health insurance policy is not important, getting the right one is more important, beca...
 
Valuable information about car insurance coverage to save your cars from unwanted loss
Published by Jameshaven on March 5th 2012 | Insurance
Car insurance is something you have to have. It is something mandatory as per law. Even if we omit l...
 
Find out why product liability insurance is necessary for your business
Published by Andrew Edwards on January 17th 2012 | Insurance
Before leaving it aside think on the complex situations faced by company...
 
Finding online life insurance quotes is safe and secure
Published by Haris Portfield on February 20th 2012 | Insurance
With their inclusive approach to insurance, websites make it easy for the insurance consumers to fin...
 
Taxi Insurance Broker Quote will give you help to get a company insurance
Published by Atif Saleem on December 10th 2011 | Insurance
There are many companies that are serving to the costumers but there is also a way to wasting your t...
 
Think about commercial insurance before startup
Published by Andrew Edwards on May 12th 2012 | Insurance
You really think commercial insurance has some significance while running business...
 
Its possible to have low cost Alabama auto insurance
Published by Alabamaauto Insurances on January 14th 2012 | Finance
It’s possible to have low cost auto insurance Alabama especially if they search online for such of...
 
A preliminary understanding Connected with Car insurance policy Benefits
Published by Shyam Singh on February 23rd 2012 | Insurance
A lot more gas mileage people get, the greater these premiums on the insurance policy will likely be...
 
How to do Car insurance comparison before buying a car insurance coverage
Published by Geenadavis on March 28th 2012 | Insurance
The very first thing after purchasing a new vehicle is to get it covered because it is extremely ess...
 
Vauxhall Corsa Insurance gives you best insurance
Published by Ahmadgill on January 26th 2012 | Insurance
Now a day our company is committed in giving you cheap insurance and cutting rates on Vauxhall Corsa...
 
My cheap car insurance can save you more money
Published by Harrisonford on March 29th 2012 | Insurance
These days, people are looking for ways to save some amount wherever possible....
 
Get compensation by business interruption insurance for disastrous circumstances
Published by Andrew Edwards on January 2nd 2012 | Insurance
If you are running a business successfully and happy earnings gained on regular basis...
 
Life Insurance Plan, your Partner for life
Published by Max York on January 9th 2012 | Insurance
Your decision of buying an insurance plan can give you a sense of financial security and a reason to...
 
Mississippi offers the best car insurance for you
Published by Autoinsurances on January 16th 2012 | Insurance
It is important that you are insured when you are on the road. If at all you are driving on the Miss...