Life Insurance Policy – The What, Why and How Of A Life Insurance Policy

A life insurance policy could help you to provide your family with financial security when you die and can no longer look after them. In this article I will discuss the what, why, how, when and where of a life insurance policy. If you are wondering about getting life insurance, then you may want to read this.

What is a life insurance policy?

A Life insurance policy is a contract between an insurance company and the insured which promises to pay out a certain amount to your beneficiaries in the event of your death.

It also sets out the provisions of the life insurance coverage. These provisions include premiums, loan procedures, face amounts, and the designation of beneficiaries, among many other clauses.

Policies may be for term or permanent cash value types of coverage.

Why is a life insurance policy essential?

The benefit from a life insurance policy is not for you. It is to provide for your loved ones, but after you have gone.

After your death, the life insurance money is paid to those who rely on you to give them a secure standard of living, which they might lose if you should die. This is money when they need it the most, with no income tax or publicity.

How does a life insurance policy work?

Term life insurance is only for a certain period of time, and if the policyholder dies during the term of insurance he/she receives the death benefit. In the case of the insured person dying after the policy expires, however, no benefit is paid.

At the end of the term period, the policy expires with no accumulated cash value, and no benefits are payable. Term is the cheapest, but it’s unlikely the death benefit will be paid since the life insurance policy will probably lapse before you actually die.

When a person has family and becomes ill, not only does the sick person need support, but also the family often requires relief. Short-term income protection is an added coverage to life insurance and provides extra cash to cover the family’s needs when one spouse is ill.

You will need to decide on the amount of term life insurance before you start to shop around. Most companies have effective savings rates at $250,000, $500,000 and $1 million.

When can you take out a life insurance policy?

You may be able to get a lower premium for your insurance if you have lowered your cholesterol, lost weight or quit smoking.

A 35 year old nonsmoking male in excellent health can buy a $500,000 term life insurance policy for about $700 per year.

Keep in mind your age determines the length of time the term policy will have a guaranteed level premium. You may not be able to get more than a 10 year guarantee if you are over 50 years of age, so start while you are still young.

Where can you find a life insurance policy?

Finding a life insurance policy is something that you should not rush into.

If you are planning to apply directly for life insurance, then you may find it easier to apply online. All this information will enable you to make the right decision about the best company to get your most suitable life insurance policy from.

Getting online term life insurance quotes can be a very effective and convenient way to save you both time and money when shopping for term life insurance. The quotes are free and you’re never under any obligation to accept any quote that is offered to you.

AmerUS Life Insurance Company Review

AmerUS Life Insurance Company has been a leading provider in life insurance policies in the United States. Their main website lets customers know that the company started in the year 1896 when it was founded as a Central Life Assurance Company. Although the company itself did not grow much from the start, through the span of the years it got the people needed to operate correctly and be successful at becoming a primary life insurance company in the United States. It was not until the year 1996 that the company actually acquired the name AmerUS Life Insurance Company and at that time they actually started to organize as a stock insurance company.

Things continue to grow and after the year 2000 they acquired Indianapolis Life Insurance and finally closed the year with an estimated $21.5 billion in assets. The big news about AmerUS took place in the year 2006 where AmerUS and Aviva Corporation signed an agreement under which Aviva acquired them and paid $69 per share in cash. This meant that all their operations would be combined and the business would have their headquarters in Des Moines, Iowa.

Life insurance in the United States is just starting to be a big thing. In the past nobody thought that life insurance was the right thing to get, and some people actually thought that it would be a waste of money to buy. With present events such as 9/11, Americans have come to their senses and have actually realized that accidents can happen to anyone at anytime and for that reason it is always better to be prepared.

With the market for life insurance increasing, it is not a surprise that more and more life insurance companies are being created. With so many companies it is hard to know which one of them is the best one for you. That is why a customer must always try and shop around either online or in person. If you locate a company that you think might be the one and when you compare its price to other companies you find that it’s not that expensive, and then you will feel much confident in signing with them.

When you try to log into the main website for AmerUS you will be directed to a letter from the Aviva Life Insurance Company. Since both of the companies combined and are being run under Aviva’s name it is important to know about them. Aviva is the world’s fifth largest insurance group and it is the biggest provider of life insurance in the United Kingdom. The company is huge and it employs about 58,000 people that serve an estimated 35 million customers around the globe. They are one of the strongest life insurance and long term service Product Company with assets of over $600 billion and more than $65 billion in sales. The company itself is based in London, England and its history can be traced back to the year 1696. This means that the company is over 300 years old and for this reason it has the recognition and world fame that not many other can claim.

AmerUs Life Insurance Company (now called Aviva Life and Annuity Company) offers many life insurance products that can help someone establish financial security for the future in case of an unexpected death. Some of the products offered by this company in the United States are Indexed Life Insurance, Universal Life Insurance, Single Premium Life, Indexed Survivor Universal Life, Level Premium Term Insurance and Excess Interest Whole Life Insurance.

Indexed Life Insurance: This type of life insurance allows people to have flexible payment options and death benefits. What is good about this type of policy is that it provides cash value accumulation based on how leading market indices grow. It is also good to note that this type of policy also protects the policy from the risks of a downside market and a drop in the indices. If you purchase what Aviva calls the “no Lapse Guarantee Rider” on your “Advantage Builder” part of the policy, the death benefit in the policy can be extended to the entire life of the person insured.

Universal Life Insurance: This type of life insurance is a very common type of permanent life insurance in the American market. This type of policy will actually specify the amount a beneficiary to the policy gets within certain minimum and maximum limits. This will allow the policy holder to actually buy the amount of life insurance that he or she prefers.

Single Premium Life: This type of policy is unique in that the person will only pay a single one time premium for a death benefit that will actually last a lifetime. This is primarily designed for individuals that have savings or that need cash when they have an emergency.

Indexed Survivor Universal Life: This type of life insurance company is one in which two lives are insured (more than likely a couple) and pays the benefit after the second person dies. In other words, if a husband dies before his wife; the policy will not be reimbursed to the beneficiary. It also has the potential to accumulate cash value that in the end will be given to the beneficiary after both people in the policy die.

Level Premium Term Insurance: Perhaps the most famous type of life insurance in the United States because it is not permanent. This type of insurance simply allows a policy holder to have protection for a specified period of time. In AmerUS (now Aviva) people can purchase 10, 15, 20 or 30 year term policies based on the needs that they have. This type of policy does not accrue cash value, but it will pay the beneficiary the amount that the policy holder purchases in case of the policy holder’s death.

Excess Interest Whole Life Insurance: There products are made to ensure that professionals, business owners, individuals and executives get what they need from the life insurance industry. What this type of policy does is give you fixed premiums and guarantees you death benefits.

As you can see AmerUS has gone far beyond what many life insurance companies have achieved. With the joint help of Aviva of North America, these two companies have taken the life insurance market in the United States to a whole new level. To decide if AmerUS and Aviva may be a good life insurance choice for your needs then be sure and carefully research your options with a licensed Aviva life insurance agent.

Homeowner Association Management Teams Bring Added Value

One reason that people choose to rent property instead of buying is the ease of doing so. They pay their rent every month and, because they do, they know that the property will be cared for. After all, how nice is it that maintenance is just a phone call away? Property owners, generally, don’t get this luxury.

Many neighborhood and condo associations organize themselves into home owner associations in order to take share the financial burden and management burden of caring for property. Usually, monthly meetings are held in which maintenance decisions are made, the financial health of the organization is evaluated, delinquent payments are discussed, and future plans for the neighborhood or building are proposed. Most of the time, these organizations are run by one member who invariable sacrifices much of his or her time managing the association. These volunteers hire maintenance, lawn service, check local building codes, recover late payments, and manage the association’s money.

New association management companies are now providing an affordable alternative to volunteer-only home owners associations. The problem is that a volunteer, if they did just the minimum needed to maintain the building, spends a lot of his or her time. So, there are things that the average volunteer probably would not go out of their way to do. For instance, an association management company can offer professional financial analysis. I doubt many volunteer association managers do that.

Surprisingly these management companies are able to provide this service at a reasonable cost. They are able to do so, because they spread the costs of, say, a gardener, among many properties. So, because the manager is “a big” client of his lawn care business, he gives him a deal. Fees depend on the level of management, i.e. number of services, needed by the association. They provide services that most associations already use, but they can also to add value to the property by providing professionals to serve the associations. Their experience personnel attend association meetings and provide information to it members about monthly financial reports and budget preparation.

There are two major advantages to outsourcing the association’s management. The first is that collecting delinquent payments from your neighbors can cause a lot of problems. Association managers will do that for you and will even start the early stages of the collection process. The other main advantage is that it makes your property more marketable. One of the first things a potential buyer is going to look at is the financial health of the association. If you show them monthly financial reports, there is no doubt they will be impressed.

Managing a home owners association is a daunting task, one that with which working professionals can barely keep up. Yet for a similar price, the grunt work can be outsourced to a company whose business is property management. This service could add value to your property while taking the headache of owning a home away.

Auto Insurance Company – Free Online Car Insurance Company

Today it is very easy to find an auto insurance company free online car insurance quote. In fact, just about every company today offers these quotes online, in order to help you to find out whether not their the right company for you. So what is the best company for you? If it was this easy to determine this, everybody would go the same company.

The truth is, the best car insurance company will vary from person to person, depending on their personal situation. For instance, some companies might offer discounts for good driving records, even good grades, etc. It all depends on you and your situation. One company might be cheaper for your neighbor and may actually be more expensive for you.

So what are some for things to look for an auto insurance company? First of all, this is an obvious one, but it still is one of the central points: the price. The price of a policy will go a long ways to determining which is the right company for you is.

Of course, price certainly isn’t the only factor. Customer service is extremely important as well.

Quite simply, the insurance company industry, for better or worse, has developed the reputation of poor customer service. Many people report nightmare experience of having to wait hours before they get to talk with a representative.

Therefore, always make sure that the customer service is good before going with a particular company. Quite simply, some companies don’t have nearly the amount of current experience the other companies do. Therefore, it is imperative to look at the experience factor when deciding the right insurance company for you.

So how do you find out this information? Again, as with just about any information you want to find out in today’s world, the Internet has an abundance of info; by simply doing a quick Google search you will find literally millions of results to help you find out the right auto insurance company for you. Hopefully is important information help you quickly and easily find the right car insurance company for you with your individual situation.