Life Insurance Information Wikipedia

Life insurance. Life insurance is money for your family to use to pay your bills and death expenses when you die. A person must be healthy to purchase a life insurance policy. The amount of life insurance needed depends on the person’s family’s needs when they die.. Because term life insurance is a pure death benefit, its primary use is to provide coverage of financial responsibilities for the insured or his or her beneficiaries. Such responsibilities may include, but are not limited to, consumer debt , dependent care , university education for dependents, funeral costs, and mortgages .. The insured party normally pays premiums until death, except for limited pay policies which may be paid up in 10 years, 20 years, or at age 65. Whole life insurance belongs to the cash value category of life insurance, which also includes universal life, variable life, and endowment policies .. Life insurance. The majority of life insurance fraud occurs at the application stage, involving applicants misrepresenting their health, their income and other personal information into order to get a cheaper premium. As more and more insurance amendments can be performed online or over the telephone, identity theft has become an enabling crime ....

Life Insurance Corporation of India (abbreviated as LIC) is an Indian state-owned insurance group and investment corporation owned by the Government of India. The Life insurance Corporation of India was founded on September 1, 1956 when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India.. A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. Typically, life insurance is chosen based on the needs and goals of the owner..

Wikipedia is a free online encyclopedia, created and edited by volunteers around the world and hosted by the Wikimedia Foundation.. With term life, a life insurance company bases the policy premium on the probability that the insured will die within a stated term—typically 10, 20 or 30 years. The premiums are guaranteed for the.... There are different kinds of insurance. There are life insurance and general insurance. In life insurance, someone ensures their life or someone else's life. At the death of insured person or on the date of maturity whichever happens earlier, the amount insured will be paid. General insurance is a non-life policy, such as: fire insurance.