Example of life insurance
Like any other insurance, life insurance offers a series of coverages to the insured in exchange for the payment of an annual premium. But what happens if I stop paying the life insurance premium or the bank returns the receipt for lack of funds? We look at it in this article.
In any case, if the premium is not paid, the coverage is suspended one month after the premium due date in case it has not been paid. If the insurer does not claim payment within the following 6 months, it is understood that the contract is terminated.
As far as life insurance policies are concerned, in many cases the insurers usually terminate the contracts, without further ado, although this does not mean that they will not demand payment of the premiums. However, what is really important is the consequence that this entails, i.e. the termination of the coverage.
Normally, all insurances (when paid annually) have what is known as a grace month. This is what we referred to earlier when we said that the coverage is terminated one month after the premium due date.
Refundable life insurance
DISCLAIMER: WE ARE NOT AFFILIATED IN ANY WAY WITH PRIMERICA (PRIME AMERICA). IN FACT, WE ARE A DIRECT COMPETITOR OF THEIRS. THIS ARTICLE IS OUR PERSONAL REVIEW OF THEIR AGENT’S SALES CAREER OPPORTUNITY, THE PRODUCTS THEY OFFER. IF YOU WOULD LIKE TO CONTACT PRIMERICA DIRECTLY, PLEASE CALL THEM AT 1-800-257-4725.
You may have been approached by a friend, family member or colleague to purchase a policy from Primerica Life Insurance Company. I recommend that you spend a few minutes with this article to get the facts about Primerica Life Insurance before making a decision.
This means that the agent who introduced you to this Primerica term life insurance will probably ask you to join their team in the future so that you can make money on the life insurance policies you sell. Once you are part of the organization, they will encourage you to do the same.
The reason we present this information first is to let you know that your Primerica agent is a recruiter first and a life insurance agent second. For most Primerica agents, this is a part-time job or a hobby, so you are not getting the advice or help of an expert.
Life insurance for the elderly
Pensioner and Active Worker: Taking out a Life Annuity does not prevent someone from continuing to work. If the pensioner continues to be active and receives contributions in an AFP or makes voluntary pension savings contributions APV, these savings constitute a new capitalization fund that can be contributed to the life annuity in force, increasing the pension amount, or contract a new pension in parallel, complying with the requirements of DL 3500.
Upon the death of the deceased, the beneficiaries of the survivor’s pension will receive payments according to the percentages established by law based on the reference pension.
This benefit is for all members who request an old-age or early old-age pension or who are declared permanently disabled, or for all members who are already pensioners and who request it by expressly subscribing the «Request for Calculation of Free Disposal Surplus».
With respect to life annuities higher than the basic solidarity pension (PBS), the state guarantee will cover 75% of the excess over the basic solidarity pension (PBS), with a monthly ceiling of 45 Unidades de Fomento.
Life insurance for undocumented immigrants
Universal life insurance is a type of permanent life insurance. Like most permanent life policies, universal life insurance combines a savings component with lifetime protection. As long as you pay the required premium, the policy remains in force until you die. When you die, the death benefit is paid to your beneficiaries.
With a universal life insurance policy, you may be able to adjust your premiums and death benefits to meet your needs. With a whole life insurance policy, on the other hand, the premiums and death benefit are fixed.
You might be a candidate for a permanent policy like universal if you’re looking for a long-term death benefit; perhaps it’s to leave your family a nice, potentially tax-free inheritance or to make a final charitable gift.
Of course, there’s more to consider before answering whether universal life insurance is right for you. That’s why it can be a real benefit to talk to an agent who can study your personal situation and life goals to help you decide.