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It can be an important tool in the following situations: 1.
A Crash Course On Life Insurance
By Jim Pretin
 Life insurance is a means for providing financial protection for your family in the event of your death. A life insurance contract is relatively straightforward; you agree to pay a premium at regular intervals, and the insurance company agrees to pay a certain sum of money to your beneficiary upon your death.
There are three parties to a life insurance contract. First, there is the insured. This is the person whose life is being insured under the policy. Next, there is the insurer. The insurer is the insurance company who underwrites the risk. And third, there is the owner. The owner and insured are not necessarily one and the same. Someone can buy a life insurance policy to insure the life of someone else, such as their spouse.
The person who buys the policy is the owner, and the person whose life the policy is based on is the insured. When the owner and the insured are different people, premium payments are the responsibility of the owner.
Every life insurance contract also has a beneficiary. This is the person who receives the proceeds from the policy in the event of the death of the insured, and is assigned by the owner. There are two types. An irrevocable beneficiary can not be changed unless the beneficiary gives his or her permission; if it is revocable, the owner can change it at any time.
The policy is subject to certain terms and conditions. There are usually certain exclusions that apply, depending on the person being insured. But with almost every policy, death as the result of suicide during the first two years of the policy term is excluded from coverage.
Also, during the first two years of the policy, often referred to as the contestable period, the insurance company retains the right to not immediately pay out, even if the death is caused by a condition that is covered in the policy. The company can order an investigation into the death of the insured, to make sure that the death was not deliberate or the result of homicide.
The amount paid to the beneficiary is called the face amount. The maturity date is reached upon either the date when the insured deceases or reaches a certain age. Life insurance is most often used to provide income protection to the spouse of the deceased.
Regardless of the reason for buying the insurance, the owner (if not the same person as the insured), must have an insurable interest. In other words, the owner of the contract must have a reason for wanting to insure the life of that person, otherwise the contract is void.
When the person covered by the policy dies, the insurance company requires proof of death before paying the claim. A notarized death certificate is the most commonly accepted form of proof. The benefit is paid out either as a lump sum or as an annuity that is paid out over time.
Any annuity can be a good way to receive the benefits. It is possible for the beneficiary to set up a lifetime annuity, which would guarantee that person a certain amount of monthly income for the rest of his or her life.
There are two basic types of life insurance, temporary and permanent. Temporary insurance is known as term life. An example of a term policy would be a 20-year term life, which means that the policy will pay a death benefit if the person dies within the next twenty years.
Permanent insurance includes whole life and universal life. Whole life provides for a payout no matter when the person dies, but premiums have to continue to be paid, usually right up until the insured reaches the age of 100. Universal policies are somewhat similar, but they allow for greater premium flexibility. Universal insurance is somewhat complicated; you should talk to an agent before buying it.
I hope this information has helped you become acquainted with life insurance. You should sit down with your spouse and talk about buying a policy. Then, call an agent who works for an insurance company with a strong financial rating and make an appointment to discuss your objectives. Use the information that was presented here to help you make intelligent choices so your family will be protected in the event that something happens to you.
Jim Pretin is the owner of http://www.forms4free.com, a service that helps programmers make an HTML form A Guide To Life Insurance Policies. Will You Choose The Right One?
By Jimmy Chuang
 Life Insurance. What does this mean to you?
For some it means security, knowing that their family or business is safe should they unexpectedly pass away. For others it conjures up images of pushy salesmen and confusion about what they are buying.
By learning about the different life insurance policies available you can make an informed decision that will give you peace of mind and satisfaction with your responsible decision.
There are three main types of policies. Here is a brief explanation of what they mean:
Whole Life
Whole life insurance is a permanent insurance. This means that the policy stays in effect for your 'whole life' as long as premiums (payments) are up to date.
The cost of whole life insurance premiums will usually be more than the cost of an equivalent amount of term insurance because the cost is averaged. While the cost of term insurance goes up with each renewal, whole life insurance never needs renewing. Instead of paying smaller premiums when you're young and high premiums as you age, whole life premiums stay the same.
In some policies a savings option can be added which can be used to borrow against.
Universal Life
Universal life insurance is another form of permanent insurance. Like whole life the policy is in effect until you die. You never need to renew the policy (regardless of health) and the premiums will never go up.
Universal life also incorporates other financial services including a savings plan that can be made in addition to the policy. Otherwise the policy can be surrendered in exchange for the savings that have accumulated. Policy owners can often choose from many options including adding another person to the policy, managing their own investments or using the savings to cover the costs of premiums.
Universal life insurance is the most expensive option because of the amount of flexibility and options.
Term
Term insurance is the least expensive life insurance policy option. Term insurance is selected for a certain period of time (term) such as; 1 year, 5 years, 10 years or 20 years.
Term insurance is a good choice for young families with dependants and high debts (such as a mortgage) that they will be no longer be responsible for in 15 to 20 years when the policy ends. Term insurance has no cash value, it cannot be borrowed against or cashed in. If the policy ends and the individual wants to renew the policy the cost of premiums will be higher.
Using term insurance to cover the basic financial requirements of an individual while also instituting a separate savings plan may reduce the need for insurance later in life.
Policy Riders
Depending on the needs of an individual there are other options that can be purchased with certain insurance policies.
The additions to the life insurance policy are called 'riders'. This includes adding a spouse, including disability income insurance, Accident and Sickness, Accidental Death and Dismemberment as well as customized choices for taking loans or cash payouts on certain policies.
Talk to an insurance broker who will explain the benefits of each feature and recommends only what best suits your needs. With a bit of understanding you can make the most responsible choice with your money and be confident your family or business is provided for.
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Life Insurance Quotes, Life Insurance Rates, Cheap Life Insurance and more. Where Is NHS Money Going
By Catherine Harvey
 Is it just me or do the NHS fund managers have a strange way of allocating their money?
We're all aware that the unexpected happens which is why we take out life insurance. We even take out serious illness cover with our life insurance. But there are many things that UK residents take for granted. One such thing being that if we fall ill, we expect the NHS to take care of us. Yes, there will be waiting lists - a morbid fact of life - but once we get there we generally expect good health care that will see us leaving hospital on the mend.
It seems for a large majority of people, particularly the elderly, this is just not the case. In fact, one in five people now leave hospital malnourished. Food being a basic staple that is certainly not in short supply in this country yet many sick and vulnerable people are left wanting.
Hospital food is notoriously unappetising, another of those life facts, but it should still reach certain standards. However, it would seem that there are not enough nurses, or they are too busy, to help feed the frail and elderly. Food is often left on a tray for them, just teasing them while they sit there and starve.
Life insurance covers serious illness but it doesn't cover a visit to hospital that will actually make matters worse. Hospital staff are failing to spot signs of malnutrition which is a common cause orconsequence of illness, especially in the elderly.
Malnutrition affects every organ of the body, increasing the risk of infection and slowing the recovery rate from any medical procedure. Statistics show that 162 pounds million worth of hospital meals were thrown away last year which seems like utter madness when so many patients are starving.
If the NHS can afford this wastage, surely they could employ a few more nurses to help with feeding? A person may not have an illness serious enough to warrant a life insurance claim when they are admitted to hospital but they could certainly meet the criteria when they leave!
When it comes to the NHS wasting money, you have to look at how they have tripled spending on the cost of Viagra to a whopping 58 pounds million in 2006. Granted, erectile dysfunction can be a miserable condition and detract from the enjoyment of life, but so does grotty hospital meals and malnutrition!
It is, however, non life threatening and of no cost whatsoever to life insurance companies. It can be an early sign of heart disease, with an apparent 50 - 75% of undetected heart disease sufferers living with this condition. Years ago, erectile dysfunction was one of those things people of a certain age or with a certain condition learnt to accept and live with. Would this 58 pounds million not be better spent on detecting heart disease itself?
Doctors are only supposed to prescribe Viagra to patients with certain conditions but it is a pricey business. With nearly two million men in the UK who have genuine medical reasons for erectile dysfunction, it would appear that only 10% of this total will actually seek help. If this 10% cost 58 pounds million, then thank goodness they don't all do it.
Figures show this is a worthwhile condition to fund because the problem can contribute to 20% of relationship break ups. While the happiness of the nation is important, is it really worth spending this sort of money on a non-life threatening condition when so many NHS patients are starving?
Statistics expert Catherine Harvey looks at the effects of bad NHS money management on life insurance benefits. To find out more please visit http://www.theidol.com/ Life Insurance Share Your Opinion. (0 posts)
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