How Much Life Insurance Do I Need?
Every person has a different idea of what financial security means. If so, should happen to you, how much money would you family need? You should consider: - Your current debt. - Expenses your family can expect to pay after your death. - Your family needs. A general, rule of thumb to calculate your life insurance needs is to multiply your annual salary by seven.
Popular Insurance Questions
Popular Insurance Glossary Terms
End of a sales presentation designed to prompt the prospect to purchase the insurance product. ...
Proportion of an insurance company's total surplus at the end of each year's operation that is distributed to policy owners of participating life insurance policies. ...
Number of individuals exposed to the risk of illness, sickness, and disease at each age, and the actual number of individuals who incurred an illness, sickness, and disease at each age. ...
Same as term Close Corporation Plan: prior arrangement for surviving stockholders to purchase shares of a deceased stockholder according to a predetermined formula for setting the value of ...
Method of terminating a split dollar life insurance policy in which the company transfers its interest in the life insurance policy to the insured employee. Through such a transfer, the ...
Provision for coverage for buildings and personal property within the simplified commercial lines portfolio policy (sclp). The buildings and personal property coverage may be classified in ...
act that prohibits employers from requiring employees to retire at age 70. Also, the act prohibits EMPLOYEE BENEFIT PLANS from discriminating against employees in the 40 to 70 age group ...
Same as term Fortuitous Loss: loss occurring by accident or chance, not by anyone's intention. Insurance policies provide coverage against losses that occur only on a chance basis, where ...
Insurance company whose premium rates are usually below that of other insurance companies and the rating bureau. ...
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