Life insurance or life assurance, especially in the Commonwealth, is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be included in the benefits.
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.
Life-based contracts tend to fall into two major categories:
1 Protection policies – designed to provide a benefit, typically a lump sum payment, in the event of specified event. A common form of a protection policy design is term insurance.
2 Investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the U.S.) are whole life, universal life, and variable life policies.
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Get $250,000 of Term Life Insurance coverage for as low as $14 per month!
Term life insurance is as basic as it gets. It’s referred to as “term” because it’s only in effect for a specific period of time, or term. Unlike permanent life insurance , it doesn’t accumulate cash value so it’s typically the most affordable insurance. It’s designed solely to protect your family, home or savings should anything happen to you. With an annually renewable term, your premiums may increase each year, but with level term, premiums stay constant. That being said, we’ve managed to include life insurance policy enhancements that no other major life insurance companies offer. For example, while most limit you to terms of 10, 15, 20 or 30 years, our term life insurance policies come with a number of different level premium term options, allowing you to exactly match the term to your needs. With AG ROP Select-a-Term ® , you can surrender the policy and get your money back – every penny of every premium – should you outlive the term and life insurance quotes online.
life insurance quotes online
Click on the links below to learn more about our available term life insurance products. You can even get a
quote online or by calling 888-543-3371.
Get $250,000 of Term Life Insurance coverage for as low as $14 per month!
