To developed Effective Leadership Characteristics --
Effective leadership characteristics are seen in the most successful people in life. If you have a position of responsibility, whether in your career, home or community, there are certain traits and leadership skills that will help you become a confident, capable, efficient leader.
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Showing posts with label life insurance. Show all posts
Showing posts with label life insurance. Show all posts
Friday, July 30, 2010
Thursday, June 10, 2010
LIC Profit Plus | LIC Life Insurance
LIC profit plus is a unit linked endowment plan where the PPT or the premium payment plan is limited to a single sum of amount more than 3, 4 and 5 years. When the insurance policy gets developed the policy holder can exercise resolution option and can receive the policy money in installments. The installments will be available over a period not more than 5 years from the planned date of maturity of the term.
LIC profit plus does not provide any life cover during this period. The value of the payable installment is a subject to investment risk because the NAV value may go up and down according to the presentation of the fund.
More Details Click Here :- LIC Profit Plus | LIC Life Insurance
LIC profit plus does not provide any life cover during this period. The value of the payable installment is a subject to investment risk because the NAV value may go up and down according to the presentation of the fund.
More Details Click Here :- LIC Profit Plus | LIC Life Insurance
Thursday, June 3, 2010
Insurance Institute of India Model Tests online test
Model Tests
and get it evaluated instantly on submission of test paper....Experience the feel of Real Test!
Please go through the Instructions carefully before taking the test.
Instructions for appearing the Model Test:
In order to familiarise yourself about the pattern of question paper, you may attempt model test papers of:
Insurance Institute of India Mock Tests
Insurance Institute of India Mock Tests
and get it evaluated instantly on submission of test paper....Experience the feel of Real Test!
Please go through the Instructions carefully before taking the test.
Instructions for appearing the Model Test:
- The question paper consists of objective type questions only.
- For every question, you will find four alternative answers. To select your answer, click on the radio button next to the alternative.
- In case you want to change the answer click on any other desired alternative.
- After completing the test, press the ‘done’ button. A list of questions attempted as well as not attempted will appear along with the two options,
viz, ‘Go back to question paper’ or ‘Submit answer paper’.
- In case you want to go back to your question paper, to recheck your answers, click on the ‘Go back to question paper button’.
- Click on the ‘Submit question paper’ button to submit the paper and result will be displayed on the screen
- Click on ‘Close window’ to close the model test paper.
Tuesday, May 25, 2010
Insurance Agency Marketing and PR
Small business marketing tips help any business promote their products and services. Identify an insurance agency’s marketing and public relations campaign objectives to stay on target. Some questions to ask:
* What will be gained by an insurance agency’s marketing campaign?
* Is the focus on finding new customers or customer retention? Or both?
* What messages should be sent to prospects, customers, business partners and insurance agency employees?
Completing an executive summary, a more complex SWOT (Strengths, Weaknesses, Opportunities and Threats exercise) or compiling competitive intelligence helps small businesses identify their insurance agency’s marketing and public relations objectives and to get agreement on them.
Small Business Marketing Goals
Set concrete marketing and public relations campaign goals for an insurance agency or small business. Agencies may need to change goals later, but this sets checkpoints to review progress throughout the campaign. Here’s a sample marketing campaign goals and objectives statement:
Lisa Nichols' Insurance Agency has a great opportunity to find all-new customers in 2008. It is estimated that there are 10,000 potential, eligible agency customers in our community. The agency anticipates that 1,000 new customers will join the agency by the end of 2008, and that an additional 2,000 customers will be on board by June 2009.
Monday, May 17, 2010
L.I.C. Development Officers' Exam
L.I.C. Development Officers' Exam
A competitive examination for the recruitment of Assistant Development Officers' in the Life Insurance Corporation is held once a year, generally in the month of
September. The blank application forms and particulars are published in the Employment News, generally in the month of July and the last date for submission of applications is generally the first week of August.
Educational Qualifications: Candidates must hold a Bachelor's Degree in Arts, Science, Commerce, Agriculture or Law of an Indian or Foreign University or an equivalent qualification.
Age Limits: The applicants should have completed the age of 21 years on the 1 st July of the year of examination.
More Detail Pls check the link
L.I.C. Development Officers' Exam
Wednesday, May 12, 2010
Tips To Keep More Money in Your Pocket in a Easy Way
Tips To Keep More Money in Your Pocket
Skyrocketing gas prices have gotten a lot of media attention this year, but most consumers have surely noticed that the costs of many basic goods have also crept higher, taking a toll on their monthly budgets. The Virginia Society of CPAs offers these suggestions on the best ways to boost the cash in your pocket.
Links :- 1) Tips To Keep More Money in Your Pocket
2) How to Become LIC Agent
3) How to Become a Federal Agent
Skyrocketing gas prices have gotten a lot of media attention this year, but most consumers have surely noticed that the costs of many basic goods have also crept higher, taking a toll on their monthly budgets. The Virginia Society of CPAs offers these suggestions on the best ways to boost the cash in your pocket.
Links :- 1) Tips To Keep More Money in Your Pocket
2) How to Become LIC Agent
3) How to Become a Federal Agent
LIC Agent Exam - IRDA Agent Exam Question Paper
Insurance Institute of India conducts every year an all India based competitive exam for recruitment of Insurance agents and is known by the name of IRDA exam or Insurance Regulatory and Development Authority exam. The basic requirement to sit for the exam is that he or she must have cleared his class 12th from a recognized university or board.
IRDA exam can be given in two modes, online and offline. Candidates preferring to go for manual mode would have to submit duly filled-in exam entry form to the concerned authority. The form is also supposed to be countersigned by the sponsoring insurer. Now, if the applicant wishes for both the general as well as life branches, he or she would have to fill two separate forms.
As regards the pattern of question is concerned, theme always remains the same, as in all the questions would be related to the Insurance, loans, regulations and their general application. Moreover, you can also expect some numerical problems as well. However, they won’t be rocket science, so you do not have to worry. They would be like normal percentage, discount and loan calculation.
Sample Exam Paper
1) IRDA Agent Exam Question Paper - 1
2) IRDA Agent Exam Question Paper - 2
3) IRDA Agent Exam Question Paper - 3
IRDA exam can be given in two modes, online and offline. Candidates preferring to go for manual mode would have to submit duly filled-in exam entry form to the concerned authority. The form is also supposed to be countersigned by the sponsoring insurer. Now, if the applicant wishes for both the general as well as life branches, he or she would have to fill two separate forms.
As regards the pattern of question is concerned, theme always remains the same, as in all the questions would be related to the Insurance, loans, regulations and their general application. Moreover, you can also expect some numerical problems as well. However, they won’t be rocket science, so you do not have to worry. They would be like normal percentage, discount and loan calculation.
Sample Exam Paper
1) IRDA Agent Exam Question Paper - 1
2) IRDA Agent Exam Question Paper - 2
3) IRDA Agent Exam Question Paper - 3
Tuesday, May 11, 2010
Bonus Information - Life Insurance Corporation of India
Bonus Information - Life Insurance Corporation of India 2008-2009
All this “bonus rates” is always declares on the sum assured instead of the amount you deposit [premiums] to the LIC.
So if you have a policy of Rs2, 00, 000 with a premium of Rs10, 000 per annum and the bonus rate is 5.5% then your this year bonus amount will be Rs11, 000 [5.5% of 2, 00, 000] and not Rs1100/
Click on the following Link
http://www.myallagents.com/Bonus-Information-Life-Insurance-Corporation-of-India/details.html
All this “bonus rates” is always declares on the sum assured instead of the amount you deposit [premiums] to the LIC.
So if you have a policy of Rs2, 00, 000 with a premium of Rs10, 000 per annum and the bonus rate is 5.5% then your this year bonus amount will be Rs11, 000 [5.5% of 2, 00, 000] and not Rs1100/
Click on the following Link
http://www.myallagents.com/Bonus-Information-Life-Insurance-Corporation-of-India/details.html
Sunday, May 2, 2010
Factors affecting insurance quotes
The life insurance quotes refer to the rates of life insurance policies. However these rates vary from company to company and from policy to policy. Though there many sources for information about the quotes it is better to collect from the company itself. If you can collect from more companies, well and good as it gives competitive edge. Read more from the article on insurance quotes.The article covers
* What are life insurance quotes?
* Where to get them?
* Factors affecting insurance quotes
* Best life insurance quotes
Life Insurance quotes are the prices at which life insurance policies are proposed to be sold. In that context a life insurance quote does not necessarily become the selling price of all life insurance policies as some are given at concessions in case if the individuals chooses to take other types of insurance policies from the same company. In case of group life insurance scheme special discounts are also offered. Life insurance quotes vary from company to company and from individual to individual.
There are several methods for obtaining the life insurance quotes. The insured can contact the company directly to collect the information. He may also visit the official website of the company and enter the required details. He will thus be able to obtain online life insurance quotes. Similarly the insured can collect the information from insurance agents. An insurance agent will not only offer you the quotes but also help you in deciding the one that is best for you.
It is recommended to get quotes from as many companies as possible. This will give you the details of many companies and also help in deciding the best options. You may also find the competitive edge by comparing one with the other. These insurance quotes are extremely useful to you. They help you to know how much you should invest exactly in an insurance policy.
* What are life insurance quotes?
* Where to get them?
* Factors affecting insurance quotes
* Best life insurance quotes
Life Insurance quotes are the prices at which life insurance policies are proposed to be sold. In that context a life insurance quote does not necessarily become the selling price of all life insurance policies as some are given at concessions in case if the individuals chooses to take other types of insurance policies from the same company. In case of group life insurance scheme special discounts are also offered. Life insurance quotes vary from company to company and from individual to individual.
There are several methods for obtaining the life insurance quotes. The insured can contact the company directly to collect the information. He may also visit the official website of the company and enter the required details. He will thus be able to obtain online life insurance quotes. Similarly the insured can collect the information from insurance agents. An insurance agent will not only offer you the quotes but also help you in deciding the one that is best for you.
It is recommended to get quotes from as many companies as possible. This will give you the details of many companies and also help in deciding the best options. You may also find the competitive edge by comparing one with the other. These insurance quotes are extremely useful to you. They help you to know how much you should invest exactly in an insurance policy.
Parts of an insurance contract
Parts of an insurance contract
* Declarations – identifies who is an insured, the insured’s address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy period and premium amount. These are usually provided on a form that is filled out by the insurer based on the insured’s application and attached on top of or inserted within the first few pages of the standard policy form.
* Definitions – define important terms used in the policy language.
Insuring agreement – describes the covered perils, or risks assumed, or nature of coverage, or makes some reference to the contractual agreement between insurer and insured. It summarizes the major promises of the insurance company, as well as stating what is covered.
* Exclusions – take coverage away from the Insuring Agreement by describing property, perils, hazards or losses arising from specific causes which are not covered by the policy.
* Conditions – provisions, rules of conduct, duties and obligations required for coverage. If policy conditions are not met, the insurer can deny the claim.
* Endorsements – additional forms attached to the policy form that modify it in some way, either unconditionally or upon the existence of some condition. Instead of allowing nonlawyer underwriters to directly customize core policy language with word processors, insurers usually direct underwriters to modify standard forms by attaching endorsements preapproved by counsel for various common modifications.
* Declarations – identifies who is an insured, the insured’s address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy period and premium amount. These are usually provided on a form that is filled out by the insurer based on the insured’s application and attached on top of or inserted within the first few pages of the standard policy form.
* Definitions – define important terms used in the policy language.
Insuring agreement – describes the covered perils, or risks assumed, or nature of coverage, or makes some reference to the contractual agreement between insurer and insured. It summarizes the major promises of the insurance company, as well as stating what is covered.
* Exclusions – take coverage away from the Insuring Agreement by describing property, perils, hazards or losses arising from specific causes which are not covered by the policy.
* Conditions – provisions, rules of conduct, duties and obligations required for coverage. If policy conditions are not met, the insurer can deny the claim.
* Endorsements – additional forms attached to the policy form that modify it in some way, either unconditionally or upon the existence of some condition. Instead of allowing nonlawyer underwriters to directly customize core policy language with word processors, insurers usually direct underwriters to modify standard forms by attaching endorsements preapproved by counsel for various common modifications.
Parts of an insurance contract
Parts of an insurance contract
* Declarations – identifies who is an insured, the insured’s address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy period and premium amount. These are usually provided on a form that is filled out by the insurer based on the insured’s application and attached on top of or inserted within the first few pages of the standard policy form.
* Definitions – define important terms used in the policy language.
Insuring agreement – describes the covered perils, or risks assumed, or nature of coverage, or makes some reference to the contractual agreement between insurer and insured. It summarizes the major promises of the insurance company, as well as stating what is covered.
* Exclusions – take coverage away from the Insuring Agreement by describing property, perils, hazards or losses arising from specific causes which are not covered by the policy.
* Conditions – provisions, rules of conduct, duties and obligations required for coverage. If policy conditions are not met, the insurer can deny the claim.
* Endorsements – additional forms attached to the policy form that modify it in some way, either unconditionally or upon the existence of some condition. Instead of allowing nonlawyer underwriters to directly customize core policy language with word processors, insurers usually direct underwriters to modify standard forms by attaching endorsements preapproved by counsel for various common modifications.
* Declarations – identifies who is an insured, the insured’s address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy period and premium amount. These are usually provided on a form that is filled out by the insurer based on the insured’s application and attached on top of or inserted within the first few pages of the standard policy form.
* Definitions – define important terms used in the policy language.
Insuring agreement – describes the covered perils, or risks assumed, or nature of coverage, or makes some reference to the contractual agreement between insurer and insured. It summarizes the major promises of the insurance company, as well as stating what is covered.
* Exclusions – take coverage away from the Insuring Agreement by describing property, perils, hazards or losses arising from specific causes which are not covered by the policy.
* Conditions – provisions, rules of conduct, duties and obligations required for coverage. If policy conditions are not met, the insurer can deny the claim.
* Endorsements – additional forms attached to the policy form that modify it in some way, either unconditionally or upon the existence of some condition. Instead of allowing nonlawyer underwriters to directly customize core policy language with word processors, insurers usually direct underwriters to modify standard forms by attaching endorsements preapproved by counsel for various common modifications.
Insurance Policy
Insurance Policy.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for payment, known as the premium, the insurer pays for damages to the insured which are caused by covered perils under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Since insurance policies are standard forms, they feature boilerplate language which is similar across a wide variety of different types of insurance policies.
Insurance Policy
Insurance Policy
The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. In some cases, however, supplementary writings such as letters sent after the final agreement can make the insurance policy a non-integrated contract. One insurance textbook states that “courts consider all prior negotiations or agreements … every contractual term in the policy at the time of delivery, as well as those written afterwards as policy riders and endorsements … with both parties’ consent, are part of written policy”. The textbook also states that the policy must refer to all papers which are part of the policy. Oral agreements are subject to the parol evidence rule, and may not be considered part of the policy. Advertising materials and circulars are typically not part of a policy. Oral contracts pending the issuance of a written policy can occur.
General features
The insurance contract is a contract whereby the insurer will pay the insured (the person whom benefits would be paid to, or on the behalf of), if certain defined events occur. Subject to the “fortuity principle”, the event must be uncertain. The uncertainty can be either as to when the event will happen (i.e. in a life insurance policy, the time of the insured’s death is uncertain) or as to if it will happen at all (i.e. in a fire insurance policy, whether or not a fire will occur at all).
* Insurance contracts are generally considered contracts of adhesion because the insurer draws up the contract and the insured has little or no ability to make material changes to it. This is interpreted to mean that the insurer bears the burden if there is any ambiguity in any terms of the contract. Insurance policies are sold without the policyholder even seeing a copy of the contract.
* Insurance contracts are aleatory in that the amounts exchanged by the insured and insurer are unequal and depend upon uncertain future events.
* Insurance contracts are unilateral, meaning that only the insurer makes legally enforceable promises in the contract. The insured is not required to pay the premiums, but the insurer is required to pay the benefits under the contract if the insured has paid the premiums and met certain other basic provisions.
* Insurance contracts are governed by the principle of utmost good faith (uberrima fides) which requires both parties of the insurance contact to deal in good faith and in particular it imparts on the insured a duty to disclose all material facts which relate to the risk to be covered. This contrasts with the legal doctrine that covers most other types of contracts, caveat emptor (let the buyer beware). In the United States, the insured can sue an insurer in tort for acting in bad faith.
Structure
Early insurance contracts tended to be written on the basis of every single type of risk (where risks were defined extremely narrowly), and a separate premium was calculated and charged for each. This structure proved unsustainable in the context of the Second Industrial Revolution, in that a typical large manufacturer might have dozens or hundreds of types of risks to insure against.
In the 1930s, the insurance industry shifted to the current system where covered risks are initially defined broadly in an insuring agreement on a general policy form, then narrowed down by subsequent exclusion clauses. If the insured desires coverage for a risk taken out by an exclusion on the standard form, the insured can pay an additional premium for an endorsement to the policy that overrides the exclusion.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for payment, known as the premium, the insurer pays for damages to the insured which are caused by covered perils under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Since insurance policies are standard forms, they feature boilerplate language which is similar across a wide variety of different types of insurance policies.
Insurance Policy
Insurance Policy
The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. In some cases, however, supplementary writings such as letters sent after the final agreement can make the insurance policy a non-integrated contract. One insurance textbook states that “courts consider all prior negotiations or agreements … every contractual term in the policy at the time of delivery, as well as those written afterwards as policy riders and endorsements … with both parties’ consent, are part of written policy”. The textbook also states that the policy must refer to all papers which are part of the policy. Oral agreements are subject to the parol evidence rule, and may not be considered part of the policy. Advertising materials and circulars are typically not part of a policy. Oral contracts pending the issuance of a written policy can occur.
General features
The insurance contract is a contract whereby the insurer will pay the insured (the person whom benefits would be paid to, or on the behalf of), if certain defined events occur. Subject to the “fortuity principle”, the event must be uncertain. The uncertainty can be either as to when the event will happen (i.e. in a life insurance policy, the time of the insured’s death is uncertain) or as to if it will happen at all (i.e. in a fire insurance policy, whether or not a fire will occur at all).
* Insurance contracts are generally considered contracts of adhesion because the insurer draws up the contract and the insured has little or no ability to make material changes to it. This is interpreted to mean that the insurer bears the burden if there is any ambiguity in any terms of the contract. Insurance policies are sold without the policyholder even seeing a copy of the contract.
* Insurance contracts are aleatory in that the amounts exchanged by the insured and insurer are unequal and depend upon uncertain future events.
* Insurance contracts are unilateral, meaning that only the insurer makes legally enforceable promises in the contract. The insured is not required to pay the premiums, but the insurer is required to pay the benefits under the contract if the insured has paid the premiums and met certain other basic provisions.
* Insurance contracts are governed by the principle of utmost good faith (uberrima fides) which requires both parties of the insurance contact to deal in good faith and in particular it imparts on the insured a duty to disclose all material facts which relate to the risk to be covered. This contrasts with the legal doctrine that covers most other types of contracts, caveat emptor (let the buyer beware). In the United States, the insured can sue an insurer in tort for acting in bad faith.
Structure
Early insurance contracts tended to be written on the basis of every single type of risk (where risks were defined extremely narrowly), and a separate premium was calculated and charged for each. This structure proved unsustainable in the context of the Second Industrial Revolution, in that a typical large manufacturer might have dozens or hundreds of types of risks to insure against.
In the 1930s, the insurance industry shifted to the current system where covered risks are initially defined broadly in an insuring agreement on a general policy form, then narrowed down by subsequent exclusion clauses. If the insured desires coverage for a risk taken out by an exclusion on the standard form, the insured can pay an additional premium for an endorsement to the policy that overrides the exclusion.
Tuesday, April 13, 2010
Articals
Life insurance for a small business
The majority of people considers that life insurance is necessary only for their family and them. They wish to ensure financial safety of the future. They do not suspect that their small business too requires life insurance.
Some persons in common possess and operate one, two, three or more small businesses. For example, there was a tragical circumstance -- one of holders has suddenly deceased. Its successors can not want to take their share fraction in board. The reasons happen different: there is not enough formation, a problem with health, absence of interest to the given business etc.
The situation is possible also when the large part of the capital of the holder is connected with the company. In this case even if successors will express desire to have share fraction of the company it rather possibly is necessary to sell shares. For example, to divide the inheritance with other successors or to pay death duties.
Probably, other holders of business will not want to divide management of the company with successors.
Exit can become -- Buy-Sell Agreements. This agreement is reached between all holders of a small business. The agreement provides that if one of holders dies, other holders have the guaranteed right to take shares of the died holder under the set price.
Probably, also to acquire -- Whole Life insurance policies on a life of each holder. Other holders will be considered in this case as beneficiaries. When one of them dies, other holders collect insurance policy incomes. Usually, insurance premiums beneficiaries they are paid it is fast. As a rule, within 60 days after registration of their statement. The cash bonus can be used for purchase at successors of their share fractions. In case of resignation of one of holders or leading employees the insurance policy is transmitted to it as a resignation bonus. This fine decision of a problem with control preservation over the company.
The small business companies can have one or some persons which are key figures in operation of the company. If one of such partners dies or becomes invalid, its life policy ensures stability of the company and business. The cash bonus will help business to work successfully while to the place of the died partner will not find worthy replacement.
Key-person insurance reliably protects company funds, its solvency and solvency if the key employee (one of holders, the main shareholder, the lead manager etc.) dies or to become invalid. Key-person insurance ensures reliability of functioning of your business. Besides, very often potential creditors and investors require Key-person insurance for vip persons of the company. It partially guarantees return of their credits and investments.
That it is necessary to make before purchase Key-person insurance the policy:
1. To conduct an estimation of key persons of the company.
2. To advance cost Key-person insurance the policy.
3. To create business-continuation plan (this plan contains possible actions of the company, in case of loss of insured employees).
Whole Life insurance the policy is the good warranty of stability of business. Term Life insurance unlike Whole Life insurance the policy can expire the policy ahead of time necessary for restoration of stable work of business.
If you wish to be assured of reliable functioning of your small business and to guarantee its stability and prosperity use -- Life insurance. Now in the Internet without the big work it is possible to find the necessary information on life insurance. To find reliable social insurance agents or brokers offering optimum alternatives of life insurance for a small business.
Some persons in common possess and operate one, two, three or more small businesses. For example, there was a tragical circumstance -- one of holders has suddenly deceased. Its successors can not want to take their share fraction in board. The reasons happen different: there is not enough formation, a problem with health, absence of interest to the given business etc.
The situation is possible also when the large part of the capital of the holder is connected with the company. In this case even if successors will express desire to have share fraction of the company it rather possibly is necessary to sell shares. For example, to divide the inheritance with other successors or to pay death duties.
Probably, other holders of business will not want to divide management of the company with successors.
Exit can become -- Buy-Sell Agreements. This agreement is reached between all holders of a small business. The agreement provides that if one of holders dies, other holders have the guaranteed right to take shares of the died holder under the set price.
Probably, also to acquire -- Whole Life insurance policies on a life of each holder. Other holders will be considered in this case as beneficiaries. When one of them dies, other holders collect insurance policy incomes. Usually, insurance premiums beneficiaries they are paid it is fast. As a rule, within 60 days after registration of their statement. The cash bonus can be used for purchase at successors of their share fractions. In case of resignation of one of holders or leading employees the insurance policy is transmitted to it as a resignation bonus. This fine decision of a problem with control preservation over the company.
The small business companies can have one or some persons which are key figures in operation of the company. If one of such partners dies or becomes invalid, its life policy ensures stability of the company and business. The cash bonus will help business to work successfully while to the place of the died partner will not find worthy replacement.
Key-person insurance reliably protects company funds, its solvency and solvency if the key employee (one of holders, the main shareholder, the lead manager etc.) dies or to become invalid. Key-person insurance ensures reliability of functioning of your business. Besides, very often potential creditors and investors require Key-person insurance for vip persons of the company. It partially guarantees return of their credits and investments.
That it is necessary to make before purchase Key-person insurance the policy:
1. To conduct an estimation of key persons of the company.
2. To advance cost Key-person insurance the policy.
3. To create business-continuation plan (this plan contains possible actions of the company, in case of loss of insured employees).
Whole Life insurance the policy is the good warranty of stability of business. Term Life insurance unlike Whole Life insurance the policy can expire the policy ahead of time necessary for restoration of stable work of business.
If you wish to be assured of reliable functioning of your small business and to guarantee its stability and prosperity use -- Life insurance. Now in the Internet without the big work it is possible to find the necessary information on life insurance. To find reliable social insurance agents or brokers offering optimum alternatives of life insurance for a small business.
Parents:What Amount Should You Have in a Life Insurance Policy?
Life Insurance Policy Needs for Parents
As a parent, you know you need a life insurance policy, but how much? What is the minimum amount your survivors would need for the monetary loss of you or your spouse? It is estimated to raise a child from birth to college can cost anywhere in the neighborhood of $700,000! Here are some quick and simple ways to get an idea of how much your life insurance policy should be:
Option 1: Determining Expenses (-) Assets: Figure a rough estimate of your annual family budget. This would include your mortgage, child care, insurance, and basic living expenses. Don't forget to include expenses such as vacations, and future education plans such as private school and college. Next, estimate a figure for your assets such as savings, social security benefits, or any other income that will be there such as the income of a surviving spouse. Remember, stay-at-home spouses contribute a lot to the family income by by-passing child care, travel, cleaning, cooking, tutoring and associated costs, therefore would need to be insured also.
Option 2: Salary Estimate: Another quick, but more general way, would be to take your current annual salary and multiply that by 7. For example, if you make 60,000/per year then I would recommend buying a minimum of $420,000($60,000 X 7= $420,000).
If your estimate is high, good, it's probably right. If you are worried about the premium cost, I would recommend choosing term life insurance. You can get a policy for the time you would need it (the amount of time your kids would depend on you) for a lower premium than other insurance options.
As a parent, you know you need a life insurance policy, but how much? What is the minimum amount your survivors would need for the monetary loss of you or your spouse? It is estimated to raise a child from birth to college can cost anywhere in the neighborhood of $700,000! Here are some quick and simple ways to get an idea of how much your life insurance policy should be:
Option 1: Determining Expenses (-) Assets: Figure a rough estimate of your annual family budget. This would include your mortgage, child care, insurance, and basic living expenses. Don't forget to include expenses such as vacations, and future education plans such as private school and college. Next, estimate a figure for your assets such as savings, social security benefits, or any other income that will be there such as the income of a surviving spouse. Remember, stay-at-home spouses contribute a lot to the family income by by-passing child care, travel, cleaning, cooking, tutoring and associated costs, therefore would need to be insured also.
Option 2: Salary Estimate: Another quick, but more general way, would be to take your current annual salary and multiply that by 7. For example, if you make 60,000/per year then I would recommend buying a minimum of $420,000($60,000 X 7= $420,000).
If your estimate is high, good, it's probably right. If you are worried about the premium cost, I would recommend choosing term life insurance. You can get a policy for the time you would need it (the amount of time your kids would depend on you) for a lower premium than other insurance options.
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