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Life insurance quizlet can be a great way to educate yourself on different types of policies. It's important to understand what type you need so you will know what type you can afford. These insurance quizlets will offer some helpful information for your life coverage research. Some life insurance policy examples are life assurance policies (LAS), variable life assurance policies (VLAP), whole life assurance policies (GLAS) and universal life assurance policies (ULIP). are two door cars more expensive to insure has a different coverage and benefits. Key person life assurance policies are a type of group-owned permanent life insurance which covers the highest paid employees in an organization. Key person life assurance policies cover the CEO or other top management personnel in an organization. Typical premiums start at about $100 per month. However, is it really worth it? Is it good for me? A few advantages of life assurance policies include; they are tax-deferred and have flexible investment options. They allow the insured to make withdrawals or borrow against the policy. The insured can also borrow against the insurance. This type of policy is more risky than other types of life assurance policies, because the value of the policy diminishes in value with age. A policy holder can choose the amount of premium to be paid annually. Premiums depend on many factors. Factors such as gender, age and occupation also affect the premiums. The premium can be paid monthly or in one lump sum. One advantage of a whole life policy is that it allows the insured to borrow against the policy. There are many options to borrow such as the option to borrow against the policy for education, medical care and business start-up funding. Variable whole life policies are considered safer than universal life policies. In variable whole life policies, the insured is paid a predetermined sum of money based on their current age and health each year. The amount of money the insured receives each year is fixed and increases as they get older. Universal life policies are usually less expensive than variable life policies. ULIP policies allow the insured to borrow against the policy until the policy is forfeited. This type of policy is typically reserved for people who are close to retirement. The policy allows the insured to borrow a smaller amount than the balance of the policy but the monthly premiums are higher. ULIP policies usually cost the same as a standard life policy, though there are some plans that allow the insured to borrow against the entire policy. Finding the right life insurance policy is important if you want the coverage you need. With the various types and features available, there are various ways you can research the different options to find the coverage you need. The best way to find the life insurance quote you need is to speak to an agent. You should ask the agent questions about the features offered in the policies so that you can compare them with other quotes and see which policies offer the best coverage. You should also ask about the discounts available, especially with the purchase of an investment policy. Insurance providers are required to provide the state with a life insurance quote each year. The state can also require that you receive a life insurance quote from a certain company. The most common reason for receiving a life insurance quote is to determine whether your current employer or the government offers a program. The easiest way to obtain a quote is online. Most insurers will give you the quote free of charge. you simply submit your name, contact information, and birth date to receive a quote from multiple insurance providers. You can also request a free quote from several different companies. Getting the life insurance quizlet you need to determine the best life insurance coverage is simple. Use the search tool at the end of this article to search for answers to your questions.