Life insurance is a contract between an insurer and a policy owner. A life insurance policy guarantees the insurer pays a sum of money to named beneficiaries when the insured dies in exchange for the premiums paid by the policyholder during their lifetime.
For the contract to be enforceable, the life insurance application must accurately disclose the insured’s past and current health conditions and high-risk activities.
Many different types of life insurance are available to meet all sorts of needs and preferences. Depending on the short- or long-term needs of the person to be insured, the major choice of whether to select temporary or permanent life insurance is important to consider.
Decreasing Term Life Insurance -decreasing term is renewable term life insurance with coverage decreasing over the life of the policy at a predetermined rate. Convertible term life insurance allows policyholders to convert a term policy to permanent insurance. Renewable Term Life Insurance – is a yearly renewable term life policy that provides a quote for the year the policy is purchased. Premiums increase annually and is usually the least expensive term insurance in the beginning.
Permanent life insurance stays in force for the insured’s entire life unless the policyholder stops paying the premiums or surrenders the policy. Term life insurance differs from permanent life insurance in several ways but tends to best meet the needs of most people. Term life insurance only lasts for a set period of time and pays a death benefit should the policyholder die before the term has expired.
Most people use life insurance to provide money to beneficiaries who would suffer a financial hardship upon the insured’s death. However, for wealthy individuals, the tax advantages of life insurance, including the tax-deferred growth of cash value, tax-free dividends, and tax-free death benefits, can provide additional strategic opportunities.
Research policy options and company reviews—because life insurance policies are a major expense and commitment. It is critical to do proper due diligence to make sure the company you choose has a solid track record and financial strength.
This template will primarily be useful to insurance agents. You can provide detailed information on life insurance that your company offers. Also, this template can be used by university teachers when preparing courses on life insurance or calculating insurance benefits.
Also, this template can be used by analysts when preparing a report on insurance companies. For example, you might want to provide comparative data for several key metrics for different insurance companies.
Life Insurance Template is a stylish and professional template that contains four slides. All slides in the template can be easily customized to suit your corporate color requirements. Life Insurance Template will be useful for managers of insurance companies, insurance agents and analysts. This template’s slides will be a great addition to your professional presentation collection.