Life Insurance Quotes Online
When someone decides to make a life insurance, a very detailed policy must
be read and signed. This policy contains many aspects that must be taken into
account, like clauses that will affect this person's life while insured. As
there are many different types of life insurance, who will sign the document
must be very much clarified about its content.
It is necessary to know that a life insurance requires three basic people:
the insurer (commonly a company), the insured (whose life will be insured) and
the owner of the policy (the person who will pay for the insurance).
The Whole Life Insurance, for example, is a life insurance that is permanent.
It means that there is not effectiveness unless the insured dies or achieves
a certain age. This contract, being a permanent document, has some disadvantages,
like premium inflexibility, death benefit inflexibility, the cash value is limited
and the chances of re-do the once signed agreements, are very difficult; but
it provides to the insured and his family a long-life insurance protection and
death benefit. It also allows the policy to accumulate cash value at a guaranteed
rate on a tax-deferred basis so that you can use it when alive.
The Universal Life Insurance is a relatively new kind of insurance offered,
and is a flexible-premium; adjustable benefit life insurance policy that accumulates
account value. The flexibility of this policy allows you to change the amount
of insurance as your need. Some changes require underwriting approval.
There are many websites offering life insurance quotes online, so people can
solve their doubts about these types of document, those are sites of companies
specialized on this kind of procedure.