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Insuring Your Life - Get Benefited

Quick Health Group, Inc., Insurance Services, Dallas, TX
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 Insuring Your Life - Get Benefited
Insuring Your Life - Get Benefited

Insuring Your Life - Get Benefited

As the name suggests, life insurance simply means insuring your life. You pay a specified premium during your lifetime and after your death your nominated beneficiary can receive the pre-determined amount of money from the life insurance company. Insuring your life gives you the peace of mind thinking that even if you are not there, your loved ones will not face any financial crisis.

You will be required to pay a regular premium against your life insurance policy which can be monthly, quarterly or annually. This amount of the premium is determined by the insurance company after taking into consideration several factors or risk calculation. The company calculates the possibilities of the applicant meeting his death due to any existing medical condition, any dangerous hobbies like skydiving or simply advanced age. Needless to say, higher the risks, higher the premium. When a person applies for life insurance, the company does a complete study of all aspects of the personís life, including financial situation. The main factors which determine the life insurance premium are -

  • Medical history
  • Pre existing medical condition
  • Age
  • Gender

The premiums will be higher if the company assesses that there is a risk to the applicantís life. However it is the life insurance companyís discretion to accept the application. The company may decide not to approve the application at all. Life insurance also does not cover death due to suicide. The insurance companies are also well aware of people faking their deaths in order to claim the insured amount. Therefore suspicious cases are probed in detail.

The crude concept of life insurance which started in ancient Rome in the middle ages has come a long way since then. Life insurance can provide the vital financial support a family or dependant person needs when their earning member passes away.

Insuring Your Life - Get Benefited

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