Home insurance is something that every family should have. This is true whether you rent the home you live in or if you own it. Renters can purchase a type of home insurance that is commonly referred to as renters’ insurance. It protects the renters’ contents in the event of a loss that is incurred [...]
Premiums are the dollar amount you pay into a life insurance policy. Depending on your arrangement with the insurance company, you can pay premiums on a monthly basis or less often. All policies must contain a 3 -day grace period for late payments. This means if you are late paying your premium, your policy still stays in effect for 3 days, until you pay your premium. For group life insurance, employers can deduct your premiums with your permission from your paycheck. Insurers base your life insurance premium on several factors:
• Age
• Health problems
• Occupation
• Hobbies
• Habits
• Other circumstances that may reduce your life span, such as a bad driving record or participating in dangerous activities
• Expenses the company expects to pay regarding your coverage, such as sales charges, and underwriting and administration costs
• Interest the company expects to earn from investing your premiums
payment protection insurancePayment protection insurance (sometimes called “loan protection” or abbreviated as “PPI”) covers your loan or debt repayments in the event of certain problems – for example, if you are unable to work because of illness, or if you are made redundant. How these insurance policies actually work – and the range of benefits they offer [...] |
How to buy life insuranceMail order A few insurance companies sell through the mail. You mail a completed application directly to the company. The company usually does not have an agent in your hometown. The Internet A growing number of insurance companies are expanding their marketing and are starting to sell policies on the Web. All state laws and [...] |