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Rene Said:

Which life insurance is the best one to get and the most affordable and reasonable? Is it the whole life?

We Answered:

Term life insurance is cheaper than whole life insurance.

The best one to get will depend on your financial needs. You may not even need life insurance.

Term life insurance to replace income and pay off debts for your spouse and kids.

Whole life insurance or universal life insurance to pay for your funeral expenses and for estate planning.

Try this site
http://free-best-life-insures-comparator-usa.blogspot.com/


Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.

Irma Said:

Can a company charge me a premium for the 4 months it took them to approve me for term life insurance?

We Answered:

Most companies take the first month's premium up front and give a conditional receipt. The receipt says that if you die during this time, and we would approve you under normal conditions, we pay the claim.

Once approved, you begin coverage from the issue date of the policy. Unless they back date the app (legal), you are not required to pay any past premiums while the policy was in underwriting.

Keep in mind though, back dating the app could have saved you money.

Lloyd Said:

HELP! What is the percent increase in the premium? David purchased a $75,000, 5-year term life insurance.....?

We Answered:

To figure out a percent increase:
1) subtract the old rate from the new rate
2) divide your answer from #1 by the old rate
3) move the decimal point two spaces to the right to turn the number into a percentage

Ex: at 40 his premium was $1, 000; at 45 his premium is now $1, 200
1) 1,200 - 1,000 = 200
2) 200/1000 = .2
3) .2 with decimal moved two spaces to the right becomes 20, then add a percent, becomes 20%

Hope that helps,

Martin Said:

With a monthly premium of Rs.1000 & 5 year term, which life insurance policy will be best for me ? ?

We Answered:

SS insurance is not the best way of investment...

A lot of us confuse Investment and Insurance. Investment is something that we save up to use while we are alive. Insurance is something we save up for our family to use once we are gone. The goals of Investment and Insurance are totally different. A lot of us take Insurance policies as investments. This is the reason why there are a whole group of people running behind us
telling us how great their new Insurance policies are.

Let me explain with a simple arithmetic. Assuming you pay an Insurance policy premium of Rs. 25,000/- for a policy that would mature in 20 years The Insurance agent would have told you that the policy is worth Rs. 5 lacs and you would get a bonus amount equivalent to it and hence you would be getting Rs. 10 lacs at the end of 20 years. This is a big amount and obviously most of us would be lured into taking this policy. What do we forget here?

1. A fat portion of the premium we pay in the first few years would be paid to the agent as a commission
2. Every year a portion of your premium (Atleast 2%) would be paid to the agent as a commission
3. The Insurance company would deduct a portion of our premium (Atleast 5%) as mortality charges.
4. The Insurance company can invest only in debt instruments and hence the returns on our investments cannot exceed 8 or 9 % per annum.

Assuming you invest the same Rs. 25,000/- every year in a bank Fixed deposit that earns an interest of 9% per annum, what do you think will be the maturity amount? You wont believe me. It is Rs. 13,62,745/- which is Rs. 3,62,745/- more than what your insurance policy would give you. (Assuming what your agent said was true and you would get Rs. 10 lacs)

You will be wondering how this amount of more than Rs. 3 lacs got reduced. The answer is simple: "COMMISSION". Your Agent eats this amount from your investment and hence you are getting only 10 lacs.

What is Insurance?

Insurance is nothing but an agreement between the insurer (The Insurance Company) and the insured (You) to pay an amount as compensation if any unexpected event occurs. This amount may vary from a few hundred to even a few crores. The maximum amount the insured person can claim depends on the amount agreed upon as per the insurance policy.

So pls dont confuse investment and insurance...

For more details on what is insurance and how much of insurance you need pls visit: http://anandvijayakumar.blogspot.com/200…

If investment is what you want we can work out a nice investment plan that can give you a nice return on your investment.

Cheers,
Anand
http://anandvijayakumar.blogspot.com
mail me at anandvijayakumar@ymail.com if you need any more details.

Seth Said:

What factors help you pick one life insurance company over another, that offer similar quotes on term life.?

We Answered:

Financial strength rating! Check it out at www.ambest.com. You don't want to buy insurance from a carrier rated lower than A-.