 Posted: Wed 10:01, 27 Nov 2013 Post subject: parents die before option date |
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| Know Your Policy Better to Choose Best Life Insurance Policy
Get the best life insurance,[url=http://www.christianelouboutinoutlet.com]Christian Louboutin Discount[/url], ULIP plans and health insurance plan from SBI Life. SBI life insurance is best unit in India, ULIP, best insurance company, save tax, unit linked insurance plans,[url=http://www.christianslouboutinsales.com]Christian Louboutin Outlet Online[/url], safe insurance plans, safety insurance plans. If you are planning to buy life insurancepolicy,[url=http://www.christianslouboutinsales.com]Christian Louboutin Sale[/url], then you must be aware of the fact that market is flooded with many andeach insurance policy provider claims each of its policy offered as best life insurancepolicy.When the choice becomes difficult, knowledge and research helps you. If you arefirst time buyer of an insurance policy and want to buy best life insuranceonline,lets explore what are popular types of life insurance policies. A life insurance policy basically providesmonetary compensation for an anticipated loss to life. Ordinary life insurancepolicy, also known as long term insurance policy, is meant for long term ormany years. There are many types of ordinary life insurance policies available inthe market. Few of them have been discussed here: Whole life Assurance PlanWholelife insurance policy is the best life insurance policy for those looking for lifelongcoverage without any future medical exams. It is an insurance policy whichremains in force during whole life of the insured person or till the time ofhis retirement. The insured person is required to pay premium every yeartowards the policy. The insurance company collects premium from the insurerduring the policy term and pays claim to his family on the death of the personor to the insured person on the completion of the term. Endowment Assurance PlanInendowment life insurance plan, the insurance company makes provision for payingpremiums for life cover plus saving investment options. It promises claim tothe family of insured person in the event of his death within the policy's termor to the insured person in an event of his survival during the policy's term.The maturity period for such policy is typically for 15, 20, 25 or 30 years.Such policies are generally traditional with-profits or unit-linked plans. Manyendowment plans also pay out in the cases of critical illness. If such policyis en-cashed in its early years then any proceeds returnable to thepolicyholder will normally be lower the value of the premiums paid up tocancellation of policy. Child Deferred Assurance PlanIf you are browsing best life insuranceonline toinvest your money in life insurance plans for your children, you can investyour money in child deferred assurance plans. Such insurance plan enableparents or legal guardians of children to provide insurance coverage on thelife of children. Such plan typically has two stages; first stage is defermentperiod that covers period from the date of commencement of policy to thedeferred date. The other stage covers the period from the deferred date to thedate of maturity. The insurance cover on such insurance plan initiates from thedeferred date and is available till the date of maturity. The insurance companypays claim to the beneficiary on the option date which is calculated toreconcile with the child's 18th or 21st birthday. If theparents of insured child survive till option date, they can claim for thepolicy or may continue with it. In case, parents die before option date, thepolicy will be continued without any need for payment of premiums. If the childdies before the option date, the parents will receive back all premiums paid tothe insurance company. There aremany free online services available to compare benefits of different insuranceplans. It is advisable to first decide what kind of life insurance policy youare looking for, then use online tools to compare benefits of similar insuranceplans offered by popular insurance service providers in India. It willhelp you to choose the best life insurance policy to secure your future. |
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