Life Insurance Policy Agency Rate Quotes Chula Vista
What You Should Know About Allstate Life Insurance Policies: Life Insurance Quotes For Term Life Insurance, Whole Life Insurance, And Universal Life Insurance Chula Vista
What You Should Know About Allstate Life Insurance Policies: Life Insurance Quotes For Term Life Insurance, Whole Life Insurance, And Universal Life Insurance Chula Vista
Allstate Life Insurance Policy Coverage Life Insurance Quotes Term Life Insurance Whole Life Insurance Universal Life Insurance Chula Vista
Welcome
Hello, we very much appreciate that you've come to Chula Vista Allstate Insurance Agent: Raya Insurance Agency's Blogger Site. If your a new customer we are excited to start helping you figuring out the best life insurance personalized for you and your family's future and, if your new to Allstate Insurance thinking about buying life insurance, we appreciate that you've come to Allstate.
This Chula Vista Life Insurance Blogger site is designed to help you better understand life insurance by providing you with information and links to our Allstate Life Insurance company site in a simple and easy-to-understand way.
It’s crazy how life insurance can seem so confusing, yet be so essential to your family’s long term financial security. Check out this video to understand Allstate Life Insurance Types. Give us a call and we'll explain everything you need to know and advise your on the best Allstate Life Insurance Policy.
Welcome
Hello, we very much appreciate that you've come to Chula Vista Allstate Insurance Agent: Raya Insurance Agency's Blogger Site. If your a new customer we are excited to start helping you figuring out the best life insurance personalized for you and your family's future and, if your new to Allstate Insurance thinking about buying life insurance, we appreciate that you've come to Allstate.
This Chula Vista Life Insurance Blogger site is designed to help you better understand life insurance by providing you with information and links to our Allstate Life Insurance company site in a simple and easy-to-understand way.
It’s crazy how life insurance can seem so confusing, yet be so essential to your family’s long term financial security. Check out this video to understand Allstate Life Insurance Types. Give us a call and we'll explain everything you need to know and advise your on the best Allstate Life Insurance Policy.
Chula Vista Life Insurance Online Quote
Chula Vista Allstate Insurance Agent: Raya Insurance Agency USMC
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Chula Vista Life Insurance Agent - Term Life Insurance Insurance
Term assurance provides life insurance coverage for a specified term. The policy does not accumulate cash value. Term insurance is significantly less expensive than an equivalent permanent policy but will become higher with age. Policy holders can save to provide for increased term premiums or decrease insurance needs (by paying off debts or saving to provide for survivor needs)
Mortgage life insurance insures a loan secured by real property and usually features a level premium amount for a declining policy face value because what is insured is the principal and interest outstanding on a mortgage that is constantly being reduced by mortgage payments. The face amount of the policy is always the amount of the principal and interest outstanding that are paid should the applicant die before the final installment is paid.
Group life insurance
Group life insurance (also known as wholesale life insurance or institutional life insurance) is term insurance covering a group of people, usually employees of a company, members of a union or association, or members of a pension or superannuation fund. Individual proof of insurability is not normally a consideration in its underwriting. Rather, the underwriter considers the size, turnover, and financial strength of the group. Contract provisions will attempt to exclude the possibility of adverse selection. Group life insurance often allows members exiting the group to maintain their coverage by buying individual coverage. The underwriting is carried out for the whole group instead of individuals.
Permanent life insurance
Permanent life insurance is life insurance that covers the remaining lifetime of the insured. A permanent insurance policy accumulates a cash value up to its date of maturation. The owner can access the money in the cash value by withdrawing money, borrowing the cash value, or surrendering the policy and receiving the surrender value.
The three basic types of permanent insurance are whole life, universal life, and endowment.
Whole life
Whole life insurance provides lifetime coverage for a set premium amount (see main article for a full explanation of the many variations and options).
Universal life coverage
Universal life insurance (ULl) is a relatively new insurance product, intended to combine permanent insurance coverage with greater flexibility in premium payments, along with the potential for greater growth of cash values. There are several types of universal life insurance policies, including interest-sensitive (also known as "traditional fixed universal life insurance"), variable universal life (VUL), guaranteed death benefit, and has equity-indexed universal life insurance.
Universal life insurance policies have cash values. Paid-in premiums increase their cash values; administrative and other costs reduce their cash values.
Universal life insurance addresses the perceived disadvantages of whole life—namely that premiums and death benefits are fixed. With universal life, both the premiums and death benefit are flexible. With the exception of guaranteed-death-benefit universal life policies, universal life policies trade their greater flexibility off for fewer guarantees.
"Flexible death benefit" means the policy owner can choose to decrease the death benefit. The death benefit can also be increased by the policy owner, usually requiring new underwriting. Another feature of flexible death benefit is the ability to choose option A or option B death benefits and to change those options over the course of the life of the insured. Option A is often referred to as a "level death benefit"; death benefits remain level for the life of the insured, and premiums are lower than policies with Option B death benefits, which pay the policy's cash value—i.e., a face amount plus earnings/interest. If the cash value grows over time, the death benefits do too. If the cash value declines, the death benefit also declines. Option B policies normally feature higher premiums than option A policies.
Endowments
The endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness.
Policies are typically traditional with-profits or unit-linked (including those with unitized with-profits funds).
Endowments can be cashed in early (or surrendered) and the holder then receives the surrender value which is determined by the insurance company depending on how long the policy has been running and how much has been paid into it.
Accidental death
Accidental death insurance is a type of limited life insurance that is designed to cover the insured should they die as the result of an accident. "Accidents" run the gamut from abrasions to catastrophes but normally do not include deaths resulting from non-accident-related health problems or suicide. Because they only cover accidents, these policies are much less expensive than other life insurance policies.
Such insurance can also be accidental death and dismemberment insurance or AD&D. In an AD&D policy, benefits are available not only for accidental death but also for the loss of limbs or body functions such as sight and hearing.
Accidental death and AD&D policies very rarely pay a benefit, either because the cause of death is not covered by the policy or because death occurs well after the accident, by which time the premiums have gone unpaid. To know what coverage they have, insureds should always review their policies. Risky activities such as parachuting, flying, professional sports, or military service are often omitted from coverage.
Accidental death insurance can also supplement standard life insurance as a rider. If a rider is purchased, the policy generally pays double the face amount if the insured dies from an accident. This was once called double indemnity insurance. In some cases, triple indemnity coverage may be available.
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