Premiums as Percentage of Income

Using the Premiums as Percentage of Income rule, a minimum of six percent of the insured’s gross income (as the primary income earner) should be spent on life insurance premiums. Add an additional one percent for each dependent. Once the applicant determines the percentage of the income that should be spent on life insurance premiums, […]

Life Insurance: An Asset

A reasonable way to approach life insurance is to think of it as an asset rather than a necessary expenditure. In fact, life insurance is akin to investment in property. Some of the advantages of buying life insurance are listed below: It is a very secure asset The policy owner need not worry about closely […]

What Is A Life Insurance Policy?

In a life insurance policy, the most common event is the death of the person who is insured—in which case the payment is made to the beneficiary. Depending on the type of policy, it sometimes may be the insured person attaining a certain age, or the owner requesting to surrender the policy for its cash […]

What Does an Insurance Agent Do?

The agent system for the distribution of insurance has worked pretty well over the years, with agents marketing the products of the insurer and, at the same time, educating the consumers on how to limit risks and make better choices regarding their insurance needs. As insurance costs have increased dramatically in the last decade, agents […]

Insurance Agent and Types Of Insurance

Insurance is everyone’s need. Anyone who owns something or desires personal protection needs insurance. From individuals to businesses, insurance is a way to protect all of us from financial loss, disaster, and bad investment. Everyone should buy insurance based on his/her unique personal needs. The market offers a wide range of insurance products, including property, […]

What Is Insurance-Principles Of Insurance

What Is Insurance?An insurance policy is a legally binding contract between an insurance company and the person who buys the policy, commonly called the “insured” or the “policyholder.” In exchange for payment of a specified sum of money, called the “premium,” the insurance company agrees to pay the “beneficiary” (or for some benefits, the “owner”) […]