Insurance Center

Everyone has questions for their life insurance companies before they enter into a contract with them. Here are some of them:

Is there a difference between a policyholder and insured? The answer is yes. If I decide now to buy a life insurance policy for my aging parents, then I become the policyholder and them the insured.

What events are covered?
The death of the insured or the policy holder.

How does the insurer determine the price of the cover?
This is the role of an actuary who applies mathematics and statistics to compute the prices of your life insurance cover as shown in the mortality rates tables. Your age, health status and gender are some of the issues that will influence the life insurance premium.

What are the various types of life insurance?
Term insurance refers to policy that matures when the stipulated period lapses. Whole life insurance policy is one which remains active until the policy holder's demise. At death all the benefits are paid to the beneficiaries named in the contract.

Universal life insurance is a cover that can be amended. Variable Universal Life Insurance is a product rated as securities since the policyholder presumes investment risk connected with the unpredictable investment returns exposed to the fluctuations of markets.