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  National
Oracle Tells Clients of Second Recent Hack, Log-In Data Stolen
Markets/Coverages: Travelers Adds Enhanced Services for Cyber Liability; Willis AdWrap for Marketing and Ad Production
Several Companies Must Face Lawsuit Over Tainted Baby Food, Judge Rules
Supreme Court: Truck Driver Can Seek Treble Damages Over THC in CBD Product
  East
Pennsylvania Woman Charged With Filing Claim on Barn Pulled Down by TV Show
People Moves: The Hanover Creates COO Position, Names Lavey to the Job
Six Injured After Truck Crashed Into Building and Pedestrians in Boston
Fire Kills a New York Cat Sanctuary Founder and 100+ Rescued Felines
  Midwest
Microsoft Pulls Back on Data Centers From Chicago to Jakarta
Kansas' Key Insurance Placed Into Liquidation
People Moves: World Insurance Associates Promotes Scheuer to Division Revenue Leader for Great Lakes Region
Deadly Storms Bring Flooding and Destruction to Central US
  Southeast
Consultant Sheds Some Light on MGA Fee Report at Florida Legislative Hearing
South Carolina DOI Names Noga, Formerly With GuideOne, as Captives Director
Deadly Storms Bring Flooding and Destruction to Southeast, Midwest
North Carolina Appeals Court Won't Budge on Intrepid Insurance Name Mix-up
  Southcentral
People Moves: Conyers Joins Brown & Riding's Environmental Practice Leadership
Dallas Fed Warns of Slowing Growth in Trade-Reliant Texas
Report Highlights Louisiana's Tort System as Barrier to Social Mobility
Measles Outbreak Spreads to Central Texas; 5 States Report Outbreaks
  West
Newsom Says California to Seek Tariff Exemptions From Allies
People Moves: Bayern Joins Alliant Insurance Services as SVP in Denver
Washington Insurance Restitution Bill Dies in House Committee
California Delivery Company Must Repay $2M for Workers' Comp Scheme
  International
Buyer-Friendly April Reinsurance Renewal Bodes Well for Mid-Year Renewals: Brokers
Peak Re Granted License to Open Reinsurance Branch in India
Leaked Files Raise Fears About Shell Oil Production Fleet, Years After Devastating Spill
UK Financial Services Industry Slow to Hire Women to Top Roles, Report Finds
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Wednesday, June 18, 2008

Life Insurance Policy To Protect You All Life Long!

A long time ago, life insurance was used as a way to help save money for future usage in funeral expenses, and to help the family of the deceased. This was however only limited to “burial club” members in the Roman Empire. But now in the 21st century, life insurance policy covers not only after-death support, but for almost all other expenses as well.This type of insurance coverage was contemporarily introduced into the public access in the late seventeenth century. Since then, this trend has become very popular, and in fact is one of the most common ways to protect oneself financially. Common Benefits Some famous usages of this life insurance policy is to cover death benefits such as funeral costs, mortgages payments, replace the lost income that the deceased’s family misses, to pay estate taxes, retirement benefits, and many more. How does it Work?Basically there are three parties in the life insurance policy agreement; the insurer or the insurance company, the insured individual, and the beneficiary. Normally the insured individual and the policyholder are the same person, but the important party to the contract is the beneficiary, who would receive the insurance proceeds after the death of the insured party. Under a life insurance policy, the insured party pays a regular premium to the insurer or the company, in exchange for a guarantee of specified insurance proceeds payable to their family or the nearest kin upon his or her death. VarietiesLife insurance policy is generally divided into two different classes; term life insurance and permanent life insurance. Term life insurance is the basic form of life insurance policy. The word ‘term’ would clearly explain this policy’s function; to provide coverage for a certain period of time, such as 5, 10, 20 or even 30 years as specified by the insured. This policy protects the family as well as the insured party by providing money that they can invest to replace their salary after their death. In short, this policy is a pure life insurance policy with no cash value account.Permanent insurance, on the other hand, would remain active till the policy matures. This policy, unlike term life insurance policy, has a cash value account, and generally has a premium payment more than term insurances. There are four types of permanent life insurance policy, which are whole life assurance, universal life assurance, limited pay-off assurance, and the endowment insurance.

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