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Life Insurance

Life Insurance is a contract between the insurer and the insured. The latter is often called a policy holder who can designate a beneficiary to receive a predetermined sum of money in case of his/her death during the coverage period. The insurer is entitled to collect a specified amount known as premium, either at regular intervals or in a lump sum, from the policy owner.

Thus, there are three parties in a typical life insurance policy carriers or companies providing coverage, the person whose life is covered and who is responsible for paying premiums, and the beneficiary who will receive the benefits in the event of death or an occurrence mentioned in the policy documents.

There are basically two types of life insurance policies protection and investment. An example of the first form is Term Insurance, which offers nothing more than the insured sum of money. Life Insurance as an investment, on the other hand, has main objective to facilitate the growth of capital invested through single or multiple premiums, besides providing coverage for accidental deaths, critical illness or any other event mentioned in the document. Whole life insurance is an example of the second form of policies.

Life Insurance Quotes

One can find the life insurance quotes online using the resources and tools provided by a carrier. Several independent companies exist which can let you compare quotes from different carriers for the same product. There also exist tools and resources like premium calculator, rate calculator, height weight chart and more.

Life Insurance quotes depend on several factors, such as age and certain habits of the insured. For example, you may find different quotes for smokers, seniors, children, elderly, women, parents, infants, cancer patients and diabetics. Indeed, there exist different policies for different consumer groups. The premium and other costs will vary for each of these options.

Life Insurance Policies

Depending upon your meeting the eligibility criteria, you can search life insurance policies designed specifically for parents, senior citizens, dummies, individuals, employees and kids. One can name a child, spouse or other beneficiary as the owner of the policy in order to avoid estate tax. It is usually a practice in the United States to create a life insurance trust in order to solve issues that emerge when a child or spouse is named as the policy owner.

During underwriting process, one has to undergo a medical exam or answer a set of health questions. Moreover, life insurance with no medical questions or exam and without blood test, social security number and even underwriting requirements also exist, but you may have to search more for the best possible quotes.

Life Insurance Companies

The company ratings provided by some independent agencies are a big help in deciding a carrier for your life insurance requirements. The company rating shows how strong a company is, financially, in handling the claims processing. Moreover, you can also check the claims history of an insurer before taking the important decision of making it your carrier. In United States, there are number of life insurance companies. Some operate privately and others are funded by federal agencies. Some of the leading life insurance companies in the US include GEICO, USAA, Prudential, MetLife and Allstate. Browse the pages of insurancezing.com to get more details for each of these companies and more.

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