Life insurance
Life insurance coverage is designed to pay a benefit, to a beneficiary, upon the death of the insured person. There are numerous forms and varieties of this type of coverage, each designed to accommodate the needs or wishes of the person taking out the policy. Among the varieties of life insurance are:
Types of life insurance policies
Life insurance policies are often customized to further meet the needs of the insured or policyholder. Among the various customization features that may be available are:
Accelerated benefits/Living benefits riders - These riders let policyholders, who may be terminally or critically ill, draw upon a percentage of the face value of their life insurance policies.
Accidental death benefit - An extra feature of a life insurance policy that provides an additional benefit if the insured dies in an accident.
Dividend options - A set of provisions that describe how the policy-owner can use the dividends, usually to reduce the premium payment, buy additional paid-up permanent insurance, accumulate at interest, buy term life insurance, or make the policy a paid-up policy at an earlier age than originally planned.
Acronyms for life insurance professionals.
The local life insurance consultant is:
