directory of life insurance companies
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2009 All rights reserved, directory of life insurance companies |
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.directory of life insurance companiesMost organizations sell the five basic types of whole life insurance. Keep in mind that life insurance should be purchased from an established and reliable organizations because you pay in the present and expect protection long into the future. Stock term life insurance companies Stock whole life insurance companies are profit-making firms owned by stockholders who are not necessarily insurance policyholders. plan s are usually sold as "nonparticipating" variable life insurance, meaning they do not earn policy dividends for policy holders. Mutual corporations Mutual companies are owned by the term life insurance policyholders. Mutual companies sell "participating" policy which means that dividends may be paid to the policyholder. These dividends are a result of corporations charging too high a premium rate for a particular year. Investment earnings of firms may be higher than expected or companies expenses could be less than planned. Dividends may be taken as cash, applied to the following year's premium, used to purchase paid-up additions to the insurance policy, or left to accumulate interest to add to the cash value of the policy . Professional, Fraternal and Religious corporations Professional, fraternal and religious corporations operate in a different state from which you live. Usually all business is done through the mail without the services of a local agent. Costs may seem low but the counseling advice from the agent is missing. It is wise to write for a specimen contract of the policy and examine it carefully before purchase. Check with the State Insurance Commissioner's office to see if the firms is licensed in your state. insurance may be purchased as an individual insurance purchase from a companies agent or through a group plan where you are a member of that group. Individual whole life insurance Individual term life insurance sold as an individual purchase from a firms agent offers term, whole life, limited payment and endowment type policies. Medical examinations are usually required before coverage is issued. A certificate called a policy is given to the individual as proof of being insured. Group variable life insurance Group insurance is generally offered as variable life insurance through the group from an life insurance companies and requires no medical examination. Premium costs are lower in a group plan because there are fewer operating expenses. As the employee leaves the job or retires, the protection ends. It is sometimes possible to convert the term group policy to a permanent form of variable life insurance, if done within 30 days of leaving the group. |