subject: Life Insurance-make The Family Secure After You [print this page] The insurance is spread over a large area and it has many avenues. The insurance may be related to life which is the hokenbenkyo.com_life insurance or it may be related to the motor insurance, insurance against the fire and flood etc. nowadays the insurance is also done for securing your health.
The basic motto behind insurance is that people who calculate the similar kind of risk come up together and they start pooling up money in terms of small investments periodically so that they make up a huge amount and out of that amount they can take out money anytime they need off. Every insurance type has the same basic functioning method. The way the offers are made can be different in the hokenbenkyo.com_life insurance or the general insurance but they work on the same principle.
Life insurance offers different types of plans or product which differ in the type of profits they offer to the holder of the policy. There are different types of plans and one among them is endowment plan. The endowment plan in the hokenbenkyo.com_life insurance is simply like you keep on depositing money in the form of premiums and then the whole money will be claimed in case any death occurs within the policy term otherwise the money will be refunded inclusive of the bonus when the policy terms end.
Like this there are term plans too, which do not include any maturity benefits when the policy term ends without any death claim in between. These policy types only includes the lesser amount of premiums and then if the insured person die within the policy term, the whole money i.e. the sum assured can be claimed back otherwise they people will be provided with maturity benefit. People sometimes in hokenbenkyo.com_life insurance stop paying premium in between and plan to take out all the money they have submitted until that date. In such cases, as surrender value is set by companies and they cut the money according to that surrender value and return rest of the money.
by: Jennifer McIntosh
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