Life Insurance Policies
Most Loved Life Insurance Policies
If you have an interest in life insurance policies you are in the
What you are about to read are detailed explanations of
some of the most popular life insurance plans.
You will also learn
which are the most bought and even a little about those you may not have
I will begin with some of the least costly policies to
start and maintain.
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Annual Renewable Term Life Insurance
Decreasing Term Life Insurance
5 Year Level Term Life Insurance
10 Year Level Term Life Insurance
20 Year Level Term Life Insurance
30 Year Level Term Life Insurance
Whole Life Insurance
Waiver of premium And Accidental Death Benefit Riders
- Annual Renewable Term Life Insurance
This policy has many names. It is called the
yearly renewable term policy,
annual renewable term
policy or the
increasing premium term
The death benefits, otherwise known as the face amounts, of
these policies remain level for as long as you pay your premiums. Upon
your death this face amount is paid to your
either in one lump sum or in the form of a
The premiums increase every year thereby making this policy one of the
least expensive initially but it eventually becomes one of the most
So, don't let the initial low premium fool you. If you,
however, just need life insurance for a short period of time like one,
two or three years then this
type of life insurance
policy would be okay.
Decreasing Term Life Insurance
This also is one of the least costly of life policies. Here
you have a premium that is level for as long as you keep the policy,
however, the face amount, or death benefit, decreases in a fairly
uniform manner over the duration of the policy.
This policy is often
used to pay off the amount owed to a mortgage company or bank upon the death of the homeowner. It is often referred to as
mortgage life insurance.
- 5 Year Level Term Life Insurance
Another of the better policies is the
5 year level term life insurance
policy. This is simply one of the best short term life insurance policies issued to the public.
It contains a very
inexpensive level premium
for the entire 5 year duration.
The face amount is level and can be
paid out in the form of a lump sum or as a monthly income. If your need
for life insurance is only for as short a term as 5 years then this is a
good policy for that purpose.
10 Year Level Term
Any life insurance salesman will tell you that one of the easiest policies to sell is the 10 year term policy.
This may be because of the very low cost level premium. The face amount
is level for the duration and can also be paid in one lump sum or in
the form of a monthly income.
If you need life insurance for may be a
longer term than 10 years but the premium is just right for you at this
time you can convert to a more
a few years down the line...so you buy your 10 year term policy now.
20 Year Level Term
This is kind of the grandfather of all life insurance
policies. Most people just love this one. This could because of the
fairly inexpensive 20 year level premium. It never increases. Pay your
premiums and when you die your heirs receive the face amount of the
You or your heirs can choose to have the money paid out in the
form of a
If, however, you being the policy owner decide that the proceeds are to
be paid in income form the beneficiary cannot commute, that is s/he
cannot collect a lump sum from the life insurance company.
30 Year Level Term
This is a great policy. It has a level death benefit as well as a level premium for 30 years. This policy is good for
especially if there are young children involved.
I am sure you want to
see them through their formative years even if you should prematurely
die. The face amount can also be paid out in income form.
- Whole Life Insurance
whole life insurance
policy is one of the most popular insurance policies. There are many
policies that are derived from, or came to be because of, this type of
There are varying types of modified whole life policies
as well as
universal life insurance
variable life policies
which were created because of the whole life policy. The death benefits for the whole life, or ordinary life insurance policies,
remain level for as long as you live even if it is to age 100.
have to do is pay your premiums which also never increase. These
policies have guaranteed
and may earn
These dividends depend on the performance of the life insurance company.
- Endowment Policies
Endowment policies are bought with the intention of receiving
the face amount of the policy at some predetermined time in the future.
Let us say that you bought a 20 year Endowment policy for $100,000.
the end of 20 years you would receive $100,000 from the life insurance
policy plus whatever dividends the policy accumulated over the 20 year
The death benefit of $100,000 would be paid to your beneficiary
if you died in the interim. The problem with these
is that the premiums are so very high. As a result they are not sold much today.
- Waiver of premium And Accidental Death Benefit Riders
You can add the
waiver of premium rider
to any of the above life insurance policies. If you should become
disabled, anytime after 6 months of disability the life insurance
company will pay your premiums for you even if it is for the rest of
You can also add the
accidental death benefit rider
to your life insurance policies. If you died in an accident the company will double your death benefit.
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Life Insurance Policies
Burial Life Insurance
Whole Life Insurance Explanation
20 Year Term Life Insurance
30 Year Term Life Insurance
Life Insurance Policy Explained
Variable Universal Life Insurance
Business Life Insurance
Limited Liability Companies
Limited Payment Life Ins
Long Term Care Insurance
Long Term Disability Insurance
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