The document provides an overview of life insurance basics, including defining life insurance as an agreement where the insurer promises to pay a sum to a beneficiary upon the policy owner's death in exchange for premium payments. It discusses the different types of life insurance policies including term, whole life, universal life and variable life, and how they differ in terms of coverage duration, premium structure, and cash value growth. The document also reviews important considerations for determining coverage needs and affordability, as well as how to name beneficiaries under a policy.
Helps customer find the best policy according to their suitable needs
Features,pros,cons and suitability of various policies are given :-
1. Term Policy
2. Whole Life Policy
3. Unit Linked Insurance Policy (ULIP)
4. Money Back Policy
5. Endowment Policy
Life insurance (or life assurance, especially in the Commonwealth), is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be included in the benefits.
Hi Friends,This presentation provides the details about the pension plan and its benefit.You can know now that why pension plan is important for life and in old age.For more details visit here :- www.thepolicykart.com..also you can check cons and pros of this plan also,because many companies provide pension plan,but the executive didn't provide the proper details to them.
Life insurance can be an important part of your financial strategies, helping to ensure a more secure financial future for your loved ones when you're gone
Hi guys! I have uploaded the power point presentation for Principles of Insurance, If any one has queries in regards to this topic, you can comment below,
Thanks!
Sanmeet.
Powerpoint, adapted from a powerpoint available on the web by the Texas Department of Insurance. Review of the basic types of insurance and their reasons.
Securing Your Financial Base Module 4 of Family Financial Freedom Floyd Saunders
The seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases)You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
Helps customer find the best policy according to their suitable needs
Features,pros,cons and suitability of various policies are given :-
1. Term Policy
2. Whole Life Policy
3. Unit Linked Insurance Policy (ULIP)
4. Money Back Policy
5. Endowment Policy
Life insurance (or life assurance, especially in the Commonwealth), is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be included in the benefits.
Hi Friends,This presentation provides the details about the pension plan and its benefit.You can know now that why pension plan is important for life and in old age.For more details visit here :- www.thepolicykart.com..also you can check cons and pros of this plan also,because many companies provide pension plan,but the executive didn't provide the proper details to them.
Life insurance can be an important part of your financial strategies, helping to ensure a more secure financial future for your loved ones when you're gone
Hi guys! I have uploaded the power point presentation for Principles of Insurance, If any one has queries in regards to this topic, you can comment below,
Thanks!
Sanmeet.
Powerpoint, adapted from a powerpoint available on the web by the Texas Department of Insurance. Review of the basic types of insurance and their reasons.
Securing Your Financial Base Module 4 of Family Financial Freedom Floyd Saunders
The seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases)You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
Part 1 in a series of educational slidecasts from author and speaker Tony Steuer. Part 1 focuses on term life insurance -- what it is, how it works, and the different types of policies. It's your money, so monitor it, understand it, and know what your are getting for it.
Annuity Basics is part of our continuing series of presentations for Financial Services Industry Training. We develop custom training specific to the financial services industry. Contact us for a quote or discussion of your needs.
This presentation is part of our continuing series of training modules for the Financial Services Industry. The Insurance Industry Overview module provides a quick look at products offered by insurance companies and how insurance companies are organized. We provide training in a wide range of topics targeted at the business lines of financial services companies. Contact us for a quote or a needs analysis. Please email me at: Floyd.saunders@yahoo.com.
Learn to understand the different types of life insurance. Life insurance is different from most other types of insurance (like health, car and homeowner’s insurance) in at least one key respect: It covers against an event that is certain to occur at some point in time — the policyholder’s death. For this reason, life insurance should be viewed through a different lens than other insurance — more specifically, as an asset, instead of an expense. http://news.davidlerner.com/news.php?include=145418
Spencer Lodge Fund Advisers Dubai Life Insurance. Spencer Lodge MD of Fund Advisers Dubai Universal life insurance offers you the freedom to increase or decrease your policy’s death benefit to fit your individual needs. Policies have minimum and maximum premium amounts that you must meet to maintain your coverage, but the timing of payments can be flexible. Access to cash values Universal life insurance policies have a cash value that has the potential to increase over time. If financial needs arise, you can tap into your policy by taking tax-advantaged policy loans and making partial withdrawals without income taxes.
Universal life insurance can be the best option for you if you're looking for a life insurance plan with permanent coverage. You may be able to change your premium payments and death benefits with universal life insurance, which may also provide a guaranteed death benefit and allow you to access the policy's cash value. This article will cover all the information you need about universal life insurance, including how it op
#insurance #wholelife #universal #insurebizz #agent
16 reasons rich people are better at managing their money and what you can do to change how you think about your money. This presentation is based on the book "The Millionaire Mind". Rich people have perhaps many advantages, but most millionaires are just average people who think about money in different ways that the rest of us.
Investing can be simple, one way is buy a single share of stock and then invest more on a monthly basis, invest the dividends and over time your money will grow.
At ReallySimpleInvesting.com we work every day to bring you personal financial educational materials you can use to increase your financial security. Check us out at: www.reallysimpleinvesting.com
Getting Started with Financial Security Module 1 Floyd Saunders
The seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases)You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
Make Your Money Work Harder Than You Do Module 2 Floyd Saunders
The seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases)You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
Financing Your Future Module 5 of Family Financial Freedom Floyd Saunders
The seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases)You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
Investing in Real Estate Module 7 of Family Financial Freedom Floyd Saunders
he seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases)You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
Evaluating Your Investments Module 8 of Family Financial Freedom Floyd Saunders
The seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases)You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
Passing Your Wealth On - Module 10 of Family Financial Freedom Floyd Saunders
The seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases). You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
College is expensive, no doubt about it. But you can make it more affordable following the tips and ideas in this, the fifth module of the Affording College Now workshop. Based on materials from the book, "College Without Ramen Noodles".
A workshop leader's guide is available, just contact us.
So you want to go to college! But college is expensive, what to do? For most students financial aid is a part of the package to make college affordable. In this module of the Affording College Now Seminar, we cover all of the sources of financial aid. A Leader's Guide is available if you would like to present this workshop, just contact us.
Affording college module 3 saving for collegeFloyd Saunders
The cost of college is increasing faster than almost any of expenses and student debt is a record high levels. What's the alternative? Savings and investing in the right accounts. Learn more about how you can increase the changes you can save for college expenses and afford college. Part three of our workshop. Leader's guide available if you want to present this program. contact us.
Affording college module 2 cost of collegeFloyd Saunders
College is expensive. For many families it is one of the most expensive investments they will make. With student debt crossing over one trillion dollars, every parent and potential college student is concerned about the cost of college. This presentation is a part a workshop series based on the book, "College Without Ramen Noodles, A Guide to Affording College. In additional to the presentation a leader's guide is available. Should you wish to set-up a workshop contact me for details.
Affording College Module 1 why Go To College Floyd Saunders
Is College part of your future? Can you Afford College? Should you even consider college?
In Module One of this workshop, we explore why going to college is a great idea for your future and then some alternatives to starting college right away. Materials are based on my book, "College Without Ramen Noodles, A Guide to Affording College Now." Schedule a workshop now or ask for seminar materials including a leader's guide.
Now you can learn the 12 golden rules of investing success. This is something that all most anyone can learn and apply to achieve greater financial security. Start with the basics and learn all the rules followed by successful investors. You can do this. The presentation is available for purchase from Scribd https://www.scribd.com/doc/241726833/The-12-Golden-Rules-of-Investing
Just the straight facts about raising the minimum wage. There are a lot of myths and frankly misinformation out there about increasing the federal minimum wage in the United States. This presentation just provides some facts about the issue for you to consider.
Ever wonder how people manage to become millionaires? Hint most don't inherit wealth, most don't life a lifestyle that is beyond their means. Play the Millionaire Game and learn the secrets of the rich and almost rich.
This presentation covers the credit card business and highlights the many different types of credit cards available, how credit cards are processed and the major credit card issuers.
A concise overview of the retail banking business in the United States. Part of a continuing series of presentations on the financial services industry.
Mortgage Banking Seminar is part of the continuing series of training presentations for the Financial Services Industry. Check out our other presentations in this series and contact Saunders Learning Group if you have training needs. We can help, we have been doing training in the financial services industry for 30 years.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The new type of smart, sustainable entrepreneurship and the next day | Europe...
Life insurance basics
1. Financial Services Industry Training
Life Insurance Basics
Date July 2012
Saunders Learning Group, LLC
Saunders Learning Group, LLC, Andover, KS
2. Training from Saunders Learning Group
Saunders Learning Group provides a variety
of training programs, workshops and
seminars targeted to the financial services
industry.
Programs are available in a wide range of
topics, and we are specialists in developing
custom programs that are targeted to your
needs.
Contact the founder, Floyd Saunders at
316-680-6482 or at
floyd@floydsaunders.com for more
information.
Saunders Learning Group, LLC, Andover, KS
1
3. Topics
1. Life Insurance Basics
2. Insurance Contract
3. Types of Life Insurance
4. Life Insurance Beneficiaries
5. Where to Buy Life Insurance
Saunders Learning Group, LLC, Andover, KS Slide 2
5. Life Insurance Basics
Life insurance is an agreement between you
(the policy owner) and an insurer.
Under the terms of a life insurance policy, the
insurer promises to pay a certain sum to a person you choose
(your beneficiary) upon your death, in exchange for your
premium payments.
Proper life insurance coverage should provide you with peace
of mind, since you know that those you care about will be
financially protected after you die.
Saunders Learning Group, LLC, Andover, KS
6. The many uses of life insurance
One of the most common reasons for buying life insurance is to
replace the loss of income that would occur in the event of
your death.
When you die and your paychecks stop, your family may be
left with limited resources.
Proceeds from a life insurance policy make cash available to
support your family almost immediately upon your death.
Saunders Learning Group, LLC, Andover, KS
7. Uses for Life Insurance
Life insurance can pay any debts
that you may leave behind.
Life insurance can pay off
mortgages, car loans, and credit
card debts, leaving other
remaining assets intact for your
family.
Life insurance proceeds can also
be used to pay for final expenses
and estate taxes.
Finally, life insurance can create an
estate for your heirs.
Saunders Learning Group, LLC, Andover, KS
8. How Much Life Insurance Do You Need
Your life insurance needs will depend on a number of
factors, including:
• whether you're married
• the size of your family
• the nature of your financial obligations
• your career stage
• your goals.
For example, when you're young, you may not have a great
need for life insurance.
However, as you take on more responsibilities and your
family grows, your need for life insurance increases.
Saunders Learning Group, LLC, Andover, KS
9. Determining Life Insurance Needs
There are tools to help you determine how much coverage
you should have.
Your best resource may be a financial professional.
At the most basic level, the amount of life insurance
coverage that you need corresponds directly to your
answers to these questions:
1. What immediate financial expenses (e.g., debt repayment, funeral
expenses) would your family face upon your death?
2. How much of your salary is devoted to current expenses and future
needs?
3. How long would your dependents need support if you were to die
tomorrow?
4. How much money would you want to leave for special situations
upon your death, such as funding your children's education, gifts to
charities, or an inheritance for your children?
Since your needs will change over time, you'll need to
continually re-evaluate your need for coverage.
Saunders Learning Group, LLC, Andover, KS
10. How Much Life Insurance Can You Afford?
How do you balance the cost of insurance coverage with the
amount of coverage that your family needs?
Just as several variables determine the amount of coverage
that you need, many factors determine the cost of coverage.
The type of policy that you choose, the amount of coverage,
your age, and your health all play a part.
The amount of coverage you can afford is tied to your
current and expected future financial situation, as well. A
financial professional or insurance agent can be invaluable in
helping you select the right insurance plan.
Saunders Learning Group, LLC, Andover, KS
12. Life Insurance Contract
A life insurance contract is made
up:
of legal provisions
your application (which identifies
who you are and your medical
declarations)
and a policy specifications page that describes the policy you
have selected, including any options and riders that you have
purchased in return for an additional premium.
Saunders Learning Group, LLC, Andover, KS
13. Life Insurance Contract
Provisions describe the conditions,
rights, and obligations of the parties
to the contract (e.g., the grace
period for payment of premiums,
suicide and incontestability clauses).
The policy specifications page describes the amount to be
paid upon your death and the amount of premiums required
to keep the policy in effect.
Also stated are any riders and options added to the standard
policy.
Saunders Learning Group, LLC, Andover, KS
14. Life Insurance Basics
Life insurance riders include:
waiver of premium - allows you to skip premium payments
during periods of disability
guaranteed insurability - permits you to raise the amount of
your insurance without a further medical exam
accidental death benefits.
The insurer may add an endorsement to the policy at the time
of issue to amend a provision of the standard contract.
Each rider you add, increase the cost of coverage.
Saunders Learning Group, LLC, Andover, KS
15. Types of Life Insurance
Saunders Learning Group, LLC
Saunders Learning Group, LLC, Andover, KS
16. Types of life insurance policies
The two basic types of life insurance are term life and permanent (cash value) life.
Term policies provide life insurance protection for a specific period of time.
If you die during the coverage period, your beneficiary receives the policy death benefit.
If you live to the end of the term, the policy simply terminates, unless you renew for a
new period.
Saunders Learning Group, LLC, Andover, KS
17. Term Life Insurance
Term life insurance is , you get "pure" life insurance coverage.
Term insurance provides a death benefit for only a specific period of
time.
If you die during the coverage period, your beneficiary (the person you
named to collect the insurance proceeds) receives the death benefit (the
face amount of the policy).
If you live past the term period, your coverage ends, and you get nothing
back.
Term policies are available for periods of 1 to 30 years or more and may,
in some cases, be renewed until you reach age 95.
Premium payments may be increasing, as with annually renewable 1-
year (period) term, or level (equal) for up to 30-year term periods.
Saunders Learning Group, LLC, Andover, KS
18. Term Insurance Costs
You may be able to renew the policy for a new
term without regard to your health, but at a
higher rate.
Your premium goes toward administrative
expenses, company profit, and a reserve
account that pays claims to those who die
during the term period.
As you get older, the chance that you will die increases. To cover this
increasing risk, premiums will rise at regular intervals.
Premiums that were quite inexpensive at the time you initially
purchased your term policy become much more expensive as you get
older.
Most term insurance also has a conversion feature that allows you to
switch your coverage to some type of permanent insurance without
answering health questions.
Saunders Learning Group, LLC, Andover, KS
19. Permanent Life Insurance
Permanent insurance policies provide
protection for your entire life, provided
you pay the premium to keep the policy
in force.
Premium payments are greater than necessary to provide a life
insurance benefit in the beginning of the policy, so that a cash reserve
can be accumulated to make up the shortfall in premiums necessary to
provide the insurance in the later years.
Should the you discontinue the policy, this reserve, known as the cash
value, is returned to you.
Saunders Learning Group, LLC, Andover, KS
20. Whole Life Insurance
Whole life insurance is a type of cash value
insurance.
Unlike term insurance, which provides coverage
for a particular period of time, permanent
insurance provides coverage for your entire life.
You generally make level (equal) premium payments for life.
The death benefit & cash value are predetermined and guaranteed.
The policy owner's only action after purchase of the policy is to pay the
fixed premium.
Saunders Learning Group, LLC, Andover, KS
21. Whole Life Premiums
When you make premium payments,
you pay more than is needed to pay
for the current costs of insurance
coverage and expenses.
The excess payment is credited to a
cash value account.
This cash value account allows the insurance company to:
charge a level, guaranteed premium*
provide a death benefit
Provide cash value throughout the life of the policy.
Saunders Learning Group, LLC, Andover, KS
22. Life Insurance Cash Values
As you make payments, the cash value account With permanent life
grows. insurance, when you die, the
amount of coverage is
With traditional whole life insurance, the cash value
subtracted from your cash
account is guaranteed and held in the insurance
value before the death
company's general portfolio--you don't get to choose
benefit is paid.
how the cash value account is invested.
For example:
The cash value can grow beyond its guaranteed If you have a $500,000 policy
amount through the payment of dividends. and your cash value is at
The cash value grows tax deferred and can be used $100,000, your family would
as: only receive the $400,000 +
collateral to borrow from the insurance company $100,000 from the life
be directly accessed through a partial or insurance company
complete surrender of the policy. NOT $600,000. In other
It is important to note, that a policy loan or partial
words, at some point, you
surrender will reduce the policy's death benefit, and a may be paying for your own
complete surrender will terminate coverage altogether. death benefit!!!
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23. Conversion of a Whole Life Policy
If you live to the policy's maturity
date, the policy will "endow," and
the insurance company will pay
the accumulated cash value (equal
at maturity to the death benefit) to
you.
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24. Universal Life Insurance
Universal life provides a death benefit
and a cash value account.
Like whole life insurance, the cash value
is held in the insurance company's Another feature of universal life is the
general portfolio--you don't get to option to add the cash value to the face
choose how the account is invested. amount when the death benefit is paid.
For example:
Universal life insurance allows you
Say you die when you have $200,000 of
flexibility in making premium payments. cash value within your $1 million policy.
You may pay premiums at any time, in • If you chose the enhanced benefit
any amount (subject to certain limits), option, your beneficiary receives
as long as policy expenses and the cost $1.2 million.
of insurance coverage are met. • The increased benefit is reflected in
The amount of insurance coverage can premium calculations.
be decreased.
The cash value will grow at a declared
interest rate, which may vary over time.
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25. Features of Universal Life
Generally provide broad premium
guidelines (i.e., minimum and maximum
premium payments)
You can choose how much and when you
pay premiums.
Reducing or increasing premiums will
impact the growth of the cash value and
possibly the death benefit.
You can change the policy's death benefit.
If you want to raise the amount of
coverage, you'll need a new medical
exam, and your premiums will increase.
Universal life policies reveal all aspects of
the policy's cost structure, including the
cost of insurance (the portion set aside to
pay claims) and expenses.
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26. Variable Life Insurance
As with whole life, you pay a level premium
for life.
Like other types of permanent life insurance,
variable life insurance has a cash value
account.
The death benefit and cash value fluctuate
depending on the performance of
investments in what are known as
subaccounts, that are professionally
managed to pursue a stated investment
objective.
A variable life insurance policy, however,
allows you to choose how your cash value
account is invested.
Saunders Learning Group, LLC, Andover, KS
27. Variable Life Investment Subaccounts
Choices can range from a fixed
interest subaccount to a highly
volatile international growth
subaccount.
Require a fixed annual premium for
the life of the policy and may
provide a minimum guaranteed
death benefit*.
If the cash value account exceeds a
certain amount, the death benefit
will increase.
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28. Variable Universal Life
Combines all of the options and flexibility of universal life with the
investment choices of a variable policy.
Saunders Learning Group, LLC, Andover, KS
29. Policy Loans and Riders for VUL
Your policy's face amount is reduced by the amount of a policy
withdrawal, and withdrawals may be taxable.
You have the option of choosing a fixed or enhanced death benefit.
Most variable universal life policies offer a rider that guarantees the
death benefit at a certain level regardless of the performance of the
subaccounts, provided that a stated minimum premium is paid for a
predetermined number of years*.
*Any guarantees associated with payment of death benefits, income options, or
rates of return are subject to the claims-paying ability of the insurer.
Saunders Learning Group, LLC, Andover, KS
30. Universal Variable Life Insurance
A combination of universal and
variable life. You may pay
premiums at any time, in any
amount (subject to limits), as long as policy expenses and
the cost of insurance coverage are met.
The amount of insurance coverage can be decreased, and
the cash value goes up or down based on the performance
of investments in the subaccounts.
A subaccount is a pool of investor funds professionally
managed to pursue a stated investment objective.
The policy owner selects the subaccounts in which the cash
value should be invested.
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33. Choosing Beneficiaries
You must name a primary beneficiary to
receive the proceeds of your
insurance policy.
Your beneficiary may be a person, corporation, or other legal
entity.
You may name multiple beneficiaries and specify what
percentage of the net death benefit each is to receive.
If you name your minor child as a beneficiary, be sure to
designate an adult as the child's guardian in your will.
Saunders Learning Group, LLC, Andover, KS
34. Irrevocable Beneficiary
Generally, you can change your beneficiary at any time.
Changing your beneficiary usually requires nothing more than signing a new
designation form and sending it to your insurance company.
If you have named someone as an irrevocable (permanent) beneficiary you
will need that person's permission to adjust any of the policy's provisions.
Saunders Learning Group, LLC, Andover, KS
35. Joint or Survivorship Life
Some married couples
choose to buy insurance together
within the same policy.
These policies take the form of
either a joint first-to-die or a joint second-to-die
(survivorship) design.
With first-to-die, the death benefit is paid at the
death of the spouse who dies first.
With second-to-die, no death benefit is paid until
both spouses are deceased.
Saunders Learning Group, LLC, Andover, KS
36. Life Insurance in Estate Planning
Second-to-die policies are commonly
used in estate planning to create a
pool of funds to pay estate taxes and
other expenses due at the death of the second spouse.
Joint and survivorship policies are generally available with
any type of permanent life insurance.
Other policy characteristics remain the same.
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37. Where to Buy Life Insurance
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Saunders Learning Group, LLC, Andover, KS
38. Where can you buy life insurance?
A group life insurance plan
offered thru your employer.
Through an association
(which may offer group life insurance)
You can also buy insurance
through a licensed life
insurance agent or broker.
Online directly from an
insurance company.
Saunders Learning Group, LLC, Andover, KS
39. Combining Group and Individual Policies
Term Life
Whole Life
Universal Life
Variable Universal Life
Saunders Learning Group, LLC, Andover, KS Slide 38
40. Life Insurance Company Ratings
Any policy that you buy is only as good as the company that
issues it, so investigate the company offering you the
insurance.
Ratings services, such as A. M. Best, Moody's, and Standard
& Poor's, evaluate an insurer's financial strength.
The company offering you coverage should provide you with
this information.
Saunders Learning Group, LLC, Andover, KS
It is a true hybrid product, and you make most of the policy decisions: You decide how often and how much your premium payments are to be, within guidelines. You get no guaranteed minimum cash value or death benefit. Your premium payments in excess of administrative costs and the cost of insurance are invested in the variable subaccounts that you choose.Your policy may lapse if the cash value account falls below a certain level.Low-interest loans can be taken against your cash value account, and cash withdrawals are available.