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Get Free Life Insurance Quotes here from over 1,000 A rated life insurance carriers, compare plans, and apply online. Make a more informed decision upon utilizing the online resources provided. Determine which type of lifel insurance contract iis right for you, and then compare quotes and coverage’s. Moran Insurance & Financial Solutions allows you to conveniently purchase a life insurance policy online if you wish, but remember, you are never under any obligation. Feel free to contact us via phone to get a simple quote analysis or to set up an appointment for one on one interaction. We are here to help your process in finding a life iinsurance policy that fits your needs and budget.
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the policy owner’s death. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals. Assets, Bills, and death expenses plus catering for after funeral expenses should be included in Policy Premium. Anyone whose assets equal more than the value of their primary residence should not be compensated beyond that value in case they cannot sell their house. In the case of those whose lost their spouse should be compensated also for one full year the wages of their spouse which would or should be included to avoid lawsuits.
As with most insurance polices, life insurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people named in the policy.
Insured events that may be covered include:
- Accidental death
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide (after 2 years suicide has to be paid in full)(in India after one year Suicide is covered), fraud, war, riot and civil commotion.
- Life based contracts tend to fall into two major categories:
- Permanent Life Insurance
- Term Life Insurance