All About Insurance Premiums

admin — Thu, 27 Dec 2007 12:07:34 +0000

Insurance Premiums are the dollar amount you pay into a life insurance policy. You can pay premiums on a monthly basis or less often if you choose. All policies contain a 31-day grace period for late payments, therefore if you are late paying your premiums, you policy still stays in effect for 31-days, until you pay your premium.

A basic type of permanent life insurance is when the premiums are paid, to cover the policyholder over the course of their entire life.

With reference to your Group Life Insurance, your employer will deduct your premiums with your permission from you pay check.

Insurance Companies will base your life insurance premiums on several factors:

Age
Health problems
Occupation
Hobbies
Habits

What is Mortgage Life Insurance?

admin — Mon, 17 Dec 2007 14:51:40 +0000

If you own a house and have a mortgage, chances are that the lender included a letter when you signed your mortgage recommending that you buy a mortgage life insurance policy.

Mortgage Life Insurance is sold by insurance companies. It is called mortgage insurance but it is really a decreasing term life insurance that will pay off your mortgage if you die. You buy mortgage life insurance to protect your survivors from having to pay the mortgage.

The premium is structured where the policy begins with a death benefit that is equal to your current mortgage balance. The death benefit decreases at the same rate as your mortgage balance. The premium payments never change but may stop prior to the loan payment. The lender may agree to add the premium payments to your monthly mortgage payment.

Life Insurance Information USA » insurance companies

All About Insurance Premiums

What is Mortgage Life Insurance?