NLIC.org

Dwight Said:

Definition of "estate", as it applies to life insurance?

We Answered:

For your insurance policy, "estate" means the property of the dead person.

Insurance proceeds are paid to the beneficiary. In the absence of a beneficiary, the proceeds to into the assets the dead person leaves behind -- the estate. Thats not a good idea because this may subject the proceeds to estate and inheritance tax. So your insurance company is suggesting what every agent should tell you: specify beneficiaries, who will receive the insurance policy benefit tax free.

Jamie Said:

Life Insurance without Suicide Clause?

We Answered:

What is a liberal definition of suicide? Suicide is the purposeful taking of one's own life. How can there be any other definition?

There is no policy without a suicide clause. Most life insurance policies have a two-year contestable period, and a two-year suicide clause.

If you are looking to buy a policy with a short or no suicide clause, because you want to take your own life, you need desperately to get help. There is NO problem that can't be dealt with.

Best wishes.

Pauline Said:

definition of dental insurance and advantages it does for a person's life?

We Answered:

health-quotes.isgreat.org - my family have this health insurance. It is affordable and has good coverage for dental issues.

Charles Said:

l need some Actuary to respond in detail. Mortality charges in insurance, what does this mean by definition.?

We Answered:

Mortality charges changes with age as it is depend on probability of death of person in that year. Mortality charges are approved by IRDA & there is no scope of any fraud by insurance company.

Insurance companies have different products (i.e. ULIP) & their misselling stretegies to ripp off the ignorant public in this country.

Irma Said:

what is the easiest definition of a Life Income Option?

We Answered:

I'm not a life insurance guru, but, here's my understanding of the situation.

When you first take out a whole life insurance policy, you can set a "maturity" date. At that maturity date, if you haven't died yet, you can have it (the cash value) automatically rolled over to a pre-agreed upon annuity, to start paying monthly payments to you for the rest of your life, instead of paying a cash sum to your beneficiary.

You can also set up a whole life policy, to pay you a guaranteed income based on the earnings of the cash value. You would do this, by calculating when the cash value is enough, that the desired 'withdrawals' will still leave enough residual left, to continue paying the premiums, rather than letting the policy lapse.

The first one is a true life income option, the second is an effective life income option.