Life Insurance

Every life insurance policy, although there is no nationwide uniformity in wording, will contain certain provisions which, in one form or another, are found in all life insurance policies. These may be called the "contents" of the policy. There are two important types of options available to purchasers of most nsuraince policies: dividend options and settlement options. These may be called "policy options." Finally, there are certain clauses which may or may not be affixed to the life insurance contract.

The first page of the policy is usually a statement of the actual insuring agreement between the company and the insured. The name of the beneficiary frequently is stated on the first page and the policy declares that the provisions attached are all part of the contract. The amount of the premium to be paid each quarter or each year may be stated on the front page as well. The page concludes with the signatures of the officials of the company who are authorized to sign contracts and insurance papers. These officials usually are the president, the secretary, and the registrar. Following this summary of the contract come the general provisions of the policy. Some terms that follow include circumstances including suicide, incontestability, correction of age, delay clause, deduction of indebtedness, assignments, and so on. There is much to read and much to consider. While many of these conditions and terms seem similar, it is crucial to be completely informed of each policy. Ultimately, you want to choose the best life insurance policy for you.

When it comes to life insurance, the annuity is the true insurance. It is insurance against living too long, in another words, against outliving one's ability to provide an income for him/herself. Basically, an annuity is a periodic payment made by the company in return for its having received a sum of money, the premium, from the annuitant or from another who paid the premium on behalf of the annuitant.