Types of Life Insurance Policies
Life insurance policy is that kind of insurance cover that one benefit from it after the person has died. You are required to pay a premium which is done on a monthly basis or you can pay once which is termed as the premium. There is a certain percentage of money that you are required to pay to the insurance companies that after your demise, your beneficiaries can be given the money. You can also get the money when you are on the death bed if you don't want your beneficiaries to get the money that you have been paying to the insurance company. Life Insurance Company does not allow you to share in their portfolio, but you benefit from the company by life investment.
There are many types of the life insurance policy. The firstly of the life insurance policy is the annually renewable term life. This is life insurance coverage that one pays on a monthly basis. The rate of this insurance cover increases annually as one nears his/her demise. This insurance cover is preferred by many people because the rate increases and one will get money which can be passed to the beneficiaries. Go to http://www.reallifealliance.com/comparing-your-best-life-insurance-quotes/ to learn more.
The second is the guaranteed level life insurance. It is offered by most of the companies. It is characterized by paying the premiums after five, ten up to thirty years. It is very popular since it is less expensive and also provide an extended coverage. They do contain a guaranteed level premiums, and some of them are not guaranteed. Therefore, be careful to choose the best insurance cover.
The other type of the life insurance cover is the age one hundred guaranteed life insurance. It provides a life insurance cover to an age of 100 years. It's mostly completed with the universal life policy which is the best. There is also an extension to maturity feature that makes sure it has insured lives up to 100 years. You are only required to pay a premium every year then you receive insurance cover for the whole of your life. No charge will be given after you have paid your money on the premium basis.
Additionally, whole life insurance cover is another type of the life insurance cover. It provides coverage to the person for the entire his/her life. You are only required to pay a certain amount of money on a monthly basis, and then you receive your insurance until you die. It is the insurance company that makes the decision concerning the policy. Whole life insurance cover is the best type of the insurance coverage to pay. Click here for more info.
Visit http://www.ehow.com/about_4596432_advantages-disadvantages-life-insurance.html for more on the advantages of life insurance.
