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Life Insurance Industry
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The life insurance
industry offers life insurance and other
financial services, including health insurance,
annuities and asset management. Life insurance
is a contract between an insurer and policyholder
for the payment of a monetary benefit
in the event of the latter's death. Life
insurance helps protect dependents from
financial hardship when an earning member
of the family dies. |
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The U.S. life
insurance industry has been witnessing
slow but steady growth over the past few
years. Plunkett Research Ltd. estimates
that life and health insurance in the
United States will yield about $650-700
billion gross revenues in 2005. This is
compared to about $500 billion in 2002. |
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Insurance
companies offer three general categories
of life insurance - term insurance, whole
life insurance and universal insurance.
Term life insurance gives the cheapest
cover and can range in duration from one
to 30 years. A term insurance contract
entitles the designated dependents of
a policyholder to a monetary benefit in
case of his/her death during the life
of the policy. No payout is made if the
policy lapses during the policyholder's
lifetime. Term policies are ideal for
younger insurance seekers because they
provide the most affordable coverage available. | |
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Whole
life or permanent policies provide coverage
for the policyholder's lifetime and come
with a guaranteed death benefit. This
is a more expensive form of insurance
but has advantages like a cash value against
which you can borrow money. Universal
life insurance is another permanent policy
but with greater flexibility than a whole
life policy. It gives policyholders the
flexibility to adjust their premium payments
and death benefit according to their changing
needs and financial situation. Universal
policies too have a cash value. |
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Choosing
a life insurance policy can be confusing.
Your current financial status, future
prospects as well as present and future
requirements should dictate your choice.
The best way to start searching for the
right policy is by visiting www.couponhill.com.
Coupon hill
gives you access to free instant online
quotes for hundreds of policies made available
by the life insurance industry. Shopping
for life insurance through us also gives
you a chance to get cash back. You get
a $4 rebate just for requesting a quote.
Visit our website today and get the best
low cost life insurance coverage to protect
your family. |
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