At the end of the term period the policy may contain a provision permitting it to be renewed without a medical exam, although the premium rate probably will be higher. Some term life insurance policies include an option to convert to a permanent life insurance policy.
Term life insurance is typically purchased by individuals who need insurance coverage for a temporary period of time (e.g. mortgage coverage) - or who need a large amount of life insurance at the lowest possible cost.
FINAL EXPENSE INSURANCE
Final expense insurance is an insurance policy used to pay for funeral services and a burial when the named insured dies. Such a policy helps ease the financial burden placed on a family when a loved one dies. if you need this insurance contact with Aztec Insurance or get a free Quote Now.
Universal life policies offer the policy owner more flexibility than whole life insurance - the flexibility to choose both the amount of insurance and the premium to be paid with a range of potential premiums. As needs change, the amount of coverage and premium paid may be adjusted subject to certain limitations. Premium payments are credited to a cash value account where the money earns tax-deferred interest at a rate set by the company, which may be higher than the minimum rate guaranteed in the policy. Policy expenses and cost of insurance charges are deducted monthly from this cash value account. Generally, cash values can be accessed by the policy owner through policy loans and withdrawals (charges may apply).
WHOLE LIFE INSURANCE
Dental insurance works in much the same way that medical insurance works. For a specific monthly rate (or "premium"), you are entitled to certain dental benefits, usually including regular checkups, cleanings, x-rays, and certain services required to promote general dental health. Some plans will provide broader coverage than others and some will require a greater financial contribution on your part when services are rendered. Some plans may also provide coverage for certain types of oral surgery, dental implants, or orthodontia.
One of the best values in employee benefits today is vision care insurance. It's a low-cost benefit that almost all employees need. After all, how many people do you know who don't need glasses? Vision care insurance from Principal Life Insurance Company (The Principal®) covers regular eye exams, as well as glasses and contacts.