Interesting article ....
Think of a term life insurance policy as leasing a car. When you lease a car you get the benefits of using the car, but when you stop paying you don't have a car anymore. As with term insurance as long as you pay your premiums you get the benefit of the term life insurance policy, but when you stop paying, you no longer have any coverage.
Here is again some basics -
Insurance is designed to protect a person and the family from disasters and financial burdens. There are many kinds of insurance of which, the basic and most important is considered to be life insurance. It provides for the dependants after your death.
Is it a good idea to attach an investment account to your life insurance policy?
See what experts says on this.
Walter Updegrave has a simple answer: Don't do it.
..and I do agree with Walter .. keep investments separate from life insurance... you bet you will get more returns.
Accenture (NYSE:ACN) has introduced the Accenture Life Insurance Platform, an enhanced version of the former NaviSys policy administration and new-business processing platform featuring flexible new product configuration tools designed to help insurers develop and launch new products more quickly and efficiently.
The new product configuration capability leverages Asynchronous JavaScript and XML (AJAX), a technique for developing interactive web applications, to allow users to drag and drop new-product rules at any point in the insurance policy administration process.
Read on Enhanced Life Insurance from Accenture.
If you have the above question .. I would say why not ??
A permanent life policy provides lifelong insurance protection. The policy pays a death benefit if you die tomorrow or if you live to be a hundred. (hundred.. hummm :-))...
Let me give you some more facts -
- You can lock the premiums when you purchase the policy (premiums will not increase with your age)
- The policy will accumulate cash savings.
- You can use this cash value to pay your premiums
- Borrow from the insurance company using the cash value in your life insurance as collateral.
Read on some key points on Why should you purchase permanent insurance?
With 88% increase in net profit at Rs3.83 crore this year as against Rs2.02 crore last year, SBI is planning to come up with two more products in the by July this year.
Look at the increase in premium, total premium is increased by 172% at Rs2,928.49 crore in 2006-07 compared to Rs1,075.32 crore the previous year.
I would say SBI is shining for sure !!!
