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Endowment policies. In normal life insurance policies, if you outlive the policy term you wont get any money. Whereas, in case of endowment policies, the insurance company returns a big % of your insurance premium to you at the end of the tenure. So, these policies are much higher in terms of premium when compared to regular or pure-term life insurance policies.
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A higher deductible will usually mean a lower premium?
yes a higher deductible means a lower premium.
Contractionary policies are?
fiscal policies, like lower spending and higher taxes, that reduce economic growth
How does unemployment effect insurance industry?
Unemployment insurance can increase the reservation wage, causing insurance prices to go higher. It makes the insurance industry overall weaker.
What exactly is renewable term insurance?
Renewable term insurance is a type of insurance that you can renew at the end of a specified period. Typically you can renew the coverage but at a higher price. This type of insurance is designed for short term needs.
What role does politics play in shaping the monetary and fiscal policies?
By making taxes higher and influencing interest rates.
What are the travel insurance policies?
Higher the risk higher the price premium.
What is endowment policies?
Unlike whole life, an endowment life insurance policy is designed primarily to provide a living benefit and only secondarily to provide life insurance protection. Therefore, it is more of an investment than a whole life policy. Endowment life insurance pays the face value of the policy either at the insured's death or at a certain age or after a number of years of premium payment. Endowment life insurance is a method of accumulating capital for a specific purpose and protecting this savings program against the saver's premature death. Many investors use endowment life insurance to fund anticipated financial needs, such as college education or retirement. Premium for an endowment life policy is much higher than those for a whole life policy.
Which of these will not cause your insurance premium to be higher?
Having a high deductible will not cause your insurance premium to be higher.
What is endowment?
Unlike whole life, an endowment life insurance policy is designed primarily to provide a living benefit and only secondarily to provide life insurance protection. Therefore, it is more of an investment than a whole life policy. Endowment life insurance pays the face value of the policy either at the insured's death or at a certain age or after a number of years of premium payment. Endowment life insurance is a method of accumulating capital for a specific purpose and protecting this savings program against the saver's premature death. Many investors use endowment life insurance to fund anticipated financial needs, such as college education or retirement. Premium for an endowment life policy is much higher than those for a whole life policy.
What are insurance policy surrender charges?
The insurance policy surrender charges vary from policy to policy. While surrender charges against ulip policies are much on the higher side, whereas the same is low in endowment policies. You can visit the Insurance Company's webiste for a glimpse of the various charges.
How do you get paid selling life insurance?
The Direct and Corporate Agents who sell life insurance policies on behalf of the Insurance Companies are paid a certain percentage of commission(quantum already settled before) on the premium amount. In the case of single premium policies, commission is paid once and at a lower rate, whereas in conventional policies the commission is paid on premiums paid on every mode and at a bit higher rate.
Is this true the premium for terms life insurance are higher than cash value insurance premiums?
Premium for term life insurance is always lower in comparison to endowment, ulip or any other life policies.However, age factor plays a part in determining the premia for term life insurance.The reason for lower premium in term life insurance is that there is no maturity payment and payment is only made to the nominee in case of any eventuality of the life assured.
How much does home building insurance usually cost?
There are numerous policies you can buy for home building insurance. So depending on the structure itself you may need a more basic policy which will give you a less premium and monthly cost or a more detailed which will then mean a higher premium and monthly cost.
An insurance policy with a higher premium most likely has?
a lower deductible
Do women face premium charges when it comes to motor insurance?
Women typically do not face premium charges when it comes to motor insurance. Sometimes males will have to pay higher motor insurance rates as some companies consider them to be a higher risk.
What is a premium for auto insurance?
Your premium is pretty much your monthly bill, after deciding what type of deductible you plan on choosing. The higher deductible the lower your premium will be.
If I smoke cigarettes will it affect my term insurance premium?
Of course it does... It increases your premium value. If a non smoker pays a $100 premium you would have to pay a $102 or $105 as premium... Typically life insurance policies will consider factors such as smoking as a health hazard. If you are a smoker, this will generally result in higher rates of insurance. However, since life insurance is a competitive business, there are companies that will look more favorably on smokers than the typical life insurance companies. You would do well to look for online insurance quote providers. They will be able to help you locate such companies easily so that even as a smoker, you can get the best policy at the most affordable price.
