Standard Life Insurance Company – What Is Standard Life Insurance?
If you are one of the many people who know they need life insurance but don’t have a clue about what it is, please read on. Anyone can get basic life insurance coverage. Policies vary in terms of how much coverage they provide, how long premiums last, and the amount that must be paid out to survivors when the insured person dies.
What should you do if you are thinking of buying life insurance?
You should first decide whether you want term or whole-life coverage. Term insurance covers someone for a certain number of years or until they reach a certain age (such as 10, 20 or 30 years). Whole-life insurance covers an individual for his or her entire lifetime, and it is generally more expensive than term insurance.
You should also choose the type of policy that best meets your needs. There are several types of life insurance policies available:
Whole Life - This type is a permanent policy designed to provide life-long protection. Whole life contains a savings component which allows for growth potential. However, not all whole-life policies contain this feature.
Cash Value Policy - This coverage typically has an initial lower cost and works like term life with death benefits covering you for a specific period of time until the cash value builds up enough to cover death benefits without some form of payment (some policies have payments).
Replacement (payout) - This type of policy requires you to make a specified premium payment each month. The death benefit for this type is paid immediately after the insured dies.
Period Life Policy - This life insurance is designed to provide reimbursement for expenses incurred during the last months of one’s life. Period life insurance may be more beneficial than term coverage, as it provides more financial protection and less risk in market conditions that may negatively impact one’s long-term financial growth and ability to maintain an adequate standard of living.
Age-Based Insurance – This type of policy is designed to defer a portion of the premiums into future years to increase the benefits payable at any age.
You may also want to look into your policy options. There are a number of living benefits that are available for policies:
Waiver of premium - This is a guarantee that the premiums will not increase as long as you pay the premiums on time.
Guaranteed insurability - You may continue to purchase coverage even if your health status changes and you can no longer purchase coverage from other companies. The benefits do not increase or decrease as the policy owner ages, so they will never be worth less than they were when first purchased. This type of policy can be combined with inflation protection, if desired, which would provide an increase in coverage as time goes on due to inflation.
Cash surrender value - This benefit allows you to cover your premiums with your cash assets (or a cash component). The death benefit is deposited into a designated account. Death benefits are paid only after the amount in the designated account reaches a specified threshold amount. The coverage and death benefit are not changed when this occurs. Technically, you could use these benefits to purchase term life insurance, but most people use them for other needs: college or retirement savings, or other financial goals.
If you have any questions about life insurance policy choices, please ask your agent for clarification. Your agent will be able to review all of your options and help you choose which policy will work best for you.
Source: www.StandardLifeInsurance.com / What Is Life Insurance? [ARTICLE ENDS]
Standard Life Insurance Company’s official website – http://www.standardlifeinsurance.com/
Standard Life Insurance Company – About Us – http://www.standardlifeinsurance.com/about-us/default.aspx#tab2 [ARTICLE START] Standard Life was founded in 1859, making us the oldest independently owned life insurance company in the United States.[1] Today, we provide financial services such as life insurance, annuities and retirement plan solutions to individuals and families through our network of independent agents throughout the country. Our company philosophy is to help people reach their financial goals and to do so in a way that’s most suitable to their personal situation. Our commitment is to help you build your financial security through individual plans for life insurance, retirement savings, and other value-added products and services. As our economy changes, we continue to develop new products and services for today’s consumer base.[2] Although you may not use them today, we fully expect to be providing today’s families with options similar to those available back in the 1860s within the next thirty years.[3] [ARTICLE ENDS]
Standard Life Insurance Company – Key Facts – http://www.standardlifeinsurance.com/key-facts/default.aspx#tab1 [ARTICLE START] At Standard Life, we are dedicated to helping you achieve financial security…
Whether it’s a lifetime of peace of mind with our whole-life insurance solutions, a secure retirement through our retirement plan solutions, or the financial flexibility that only an annuity can provide, we believe that the best way to reach your goals should be through a comprehensive approach including multiple products and services.[4] [ARTICLE ENDS]
Standard Life Insurance Company – Homepage – http://www.standardlifeinsurance.com/homepage/default.aspx#tab2 [ARTICLE START] Best Placement for Life Insurance Protection – Our company was founded in 1859…
Although many of the policies we offer today are similar to those offered in our early years, we continue to develop new products and services for today’s consumers, including whole-life insurance. All of our life insurance plans are designed to help you build the safety net you need to spend your last days in comfort. Whether you want protection for your children, or a plan that will provide enough coverage to still be able to survive financially if something happens to you, Standard Life can help.[5] [ARTICLE ENDS]
Standard Life Insurance Company – Contact Us – http://www.standardlifeinsurance.com/contact-us/default.aspx#tab1 [ARTICLE START] We would like to hear from you!
To learn more about our life insurance options, please contact your local agent or our headquarters at the following address: 303 West 6th Avenue, Suite 100 P.O. Box 1960 Denver, Colorado 80204-1960 Phone: 1-800-842-8411 Fax: 303-572-7546 Email Us [6] [ARTICLE ENDS]
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Conclusion:
Life is short and if you’re reading this page, there’s a good chance you either know someone or you are someone that may be looking for help and/or trying to get answers regarding life insurance. That information above has been given by an actual insurance company, something that we value as a reader or visitor to our website. It’s no secret that I am an independent financial consultant that only works with family owned insurance companies, and I am proud of it. My name and reputation mean something to me, and I will never try to sell you something unless I think it is worth both your time and money.