Life Insurance 101, An Explanation of Various Types of Life Insurance

TERM LIFE INSURANCE – Life insurance for a set number or years. You can choose from 5 to 30 year terms. No cash value, if you die during the term you collect the death benefit. The policy dies after the selected term has ended and you receive nothing unless you have a, return of premium rider or you convert the policy to some form of permanent insurance.

RETURN OF PREMIUM TERM INSURANCE (ROP) – A term insurance policy that returns all or a portion of premiums paid at the end of the term if the death benefit has not been paid.

SIMPLIFIED TERM INSURANCE – Term insurance which uses a simple application. Underwriting is done electronically. No underwriting requirements by the applicant unless red flags arise out of the electronic underwriting process. Policy is usually issued much quicker than regular term. There is a limit of death benefit for this type of policy ($350,000 or less) depending on the insurance carrier. This type of policy is generally more expensive because of additional risk by the insurance carrier. Less underwriting =more risk.

CRITICAL ILLNESS INSURANCE – Applied for as a stand-alone policy or as a rider to another life insurance policy. Pay immediate benefit for a covered illness even if death does not occur.

ACCIDENTAL DEATH INSURANCE – Pays benefit in event of a covered sudden accidental death. Applied for as a stand-alone policy or as a rider to another form of life insurance.

MORTGAGE PROTECTION INSURANCE OR DECREASING TERM INSURANCE – Term insurance that pays the balance of your mortgage should death occur. The amount of death benefit decreases to match the amount owed on mortgage. The insurance is set up to end at the same time your mortgage is set to end.

UNIVERSAL LIFE INSURANCE (non variable) – Flexible premiums. Can be a permanent insurance as long as premiums are paid and policy is funded properly. Investment policy in which risk lies with insurance company.

Has a minimum guaranteed interest rate which differs by company. This policy has the ability to gain contract value. The death benefit can be set to level (death benefit stays the same throughout) or increasing (death benefit increases as contract value rises). You may obtain loans or make withdraws but you must be careful, if the policy is not funded, it will collapse.

VARIABLE UNIVERSAL LIFE INSURANCE – Agent must have securities license to sell. Very similar to non-variable universal life. The difference is that the policy owner assumes investment risk. There is no guaranteed interest rate. Policy can collapse if investment does not do well and policy is not funded properly.

WHOLE LIFE INSURANCE – Simply put, you pay the premium and the policy will last your whole life. You usually have an option to borrow against the policy, amount depends on the value of the policy. This type of policy is usually much more expensive than the universal life policy.

GRADED BENEFITS WHOLE LIFE – Partial or no benefits paid until a named or tiered waiting period has passed. If you die before the waiting period has passed, you usually will receive the return of your premium payments with some sort of interest.

FINAL EXPENSE WHOLE LIFE INSURANCE – This type of whole life insurance is aimed at burial and funeral expenses and other final expenses. Usually, no medical exam required and death benefit is limited to $50,000 or less.

SINGLE PREMIUM WHOLE LIFE – This whole life policy is paid for by a single lump sum payment. In return the beneficiary receives a larger death benefit than the payment.

THINGS TO CONSIDER: You may be interested in mixing and matching different types of policies. For example; There is a need for 500k immediately. As time goes on, the kids have graduated college and are out of the house, the house is almost or totally paid off. Now the need is less. In this example you may want to purchase a 330k universal life and a 20 year 200k term. This plan will save you money and still protect your family for life.

Or, you may want to mix term, critical illness, accident, universal life, or whole life in various ways depending on your needs.

RIDERS:

Waiver of Premium Rider – pays life insurance premium if you become disabled and can’t work. There is usually a waiting period and rider usually expires at age 60 or 65.

Critical Illness Rider – Rider is explained above.

Return of Premium Rider – Rider is explained above.

Guaranteed Insurability Rider – this rider allows you to purchase an additional amount of life insurance at a later date without having to prove insurability again or take another medical exam.

Term Conversion Rider – allows you to convert a term insurance policy into a permanent policy without proving insurability again.

Accelerated Benefit Rider – this rider is only for permanent life insurance policies. This rider is usually included automatically for free. It allows you to collect a portion of your policy’s death benefit if you become terminally ill with a short life expectancy, usually one year. The portion paid out is subtracted from you policy’s death benefit.

Accidental Death Benefit Rider – This rider pays in addition to the death benefit if you die from an accident.

Child protection Rider – Usually used to pay final expenses if the unthinkable happens. Often, at a nominal cost and purchased in units of $1,000.

UNDERWRITING: requirements depend on insurance carrier, type of policy, amount of death benefit, age, build chart, gender, medical history, medications, family history, motor vehicle report, and other factors.

An application is always required, although, non-medical policies usually have a simple application.

Requirements could be: Paramed (certified medical processor or nurse comes to your place of choosing, takes you through a medical questionnaire, measures your height and weight, takes blood and urine sample, possibly EKG either resting or non-resting), Medical information from your physician or hospital, Medical exam, etc.

HEALTH CLASSES – Typical health classes would be, Preferred Best, Preferred, Select Standard, Standard, and then different nicotine classes such as, preferred nicotine, select nicotine, and standard nicotine.

It is possible to be rated less than standard depending on health and underwriting factors.

You must qualify for a health class. This is chosen by the underwriter after the underwriting process is complete. The agent can only quote you the different health classes but this can change with the underwriting process.

Golden Triangle Tours: Best Way to Explore Culinary Delights and India’s Riches

Golden Triangle Tours is the name given to the most fascinating touring circuit of India. Unleashing the country's historic past, its heritage, colorful cultures and flavorsome cuisines, Golden Triangle Tour packages takes one to a whirlwind ride of Delhi, Agra and Jaipur. The path to the touring circuit is resplendent with fortresses, spectacular palaces, historic monuments, UNESCO applauded World Heritage Sites and culture capitals. Encompassing Golden Triangle cities brings a visual treat to the eyes of history, art and architecture lovers, but it is also an opportunity for food frantic to taste real flavor of India.

Gourmets Feast Upon Delhi Cuisine: The capital city of India, Delhi is also a hub of political and cultural activities. A fabulous metropolis Delhi is also a significant center of education and technology; also its historical heritage is very impressive, but the real charm of the city is in its cuisine. Delhi is a potpourri of cultures, it has a mini-India in itself and has welcomed people of various cities, states, color and creed with open arms and thus the variety in its cuisine and flavor in its food is one to die for. From tangy Chaat (kind of spicy snack) to delicious curries and lip-smacking Mughlai there is an abundance of choice of food. Eating joints, low- budget restaurants, road side vendors to elite restaurants and more authentic Delhi cuisine means best of Indian food. From Punjabi style cooked South Indian food to Chinese Tadka-Mar-ke and of course famous Kebabs and Tandoori food, Delhi offers et al to satiate your taste-buds. One can even have best of authentic Continental and world cuisine in Delhi well-known as the Food-Capital of India.

Jaipur's Royal Grandeur: No Golden Triangle Tours are complete without experiencing royal charm which is well preserved till at the stunning palaces and fortes of Jaipur. On a sightseeing tour across famous royal capital of Rajasthan one experiences a royal saga unfolding at hilltop Amer Fort, honeycomb shaped- Hawa Mahal and fascinating royal observatory- Jantar Mantar. Mesmerizing sight of City Palace further add to the charisma of Rajasthan ideally known as the princely state of India. Explore its bazaars to pick interesting hand-made curios; silver jewelry, colorful puppets, hand-printed fabrics and more the vibrant bazaars of Jaipur will indeed sweep you off your feet with their elegance and simplicity. Further a mesmerizing performing art scene is a must for all those touring the fabled touring circuit.

Agra: What appears to be a painter's fantasy coming alive is actually a living specimen of Mughal artistic excellence. Agra is where the ultimate emblem of love- Taj Mahal is located which made city world-renovated. Also, Agra is well-known for other UNESCO World Heritage Sites such as Agra Fort and Fatehpur Sikri. On Golden Triangle Tours in India the sights of these UNESCO riches are a must visit for they give a sneak peep into the country's architectural heritage and also brings closer to its legendary history of mighty Knights and their dynasties.

In a nutshell Golden Triangle Tours avails a quick introduction to the vast sub-continent of India.

The State Of Paralegal Employment In The United States

In 2004, Paralegal jobs and legal assistant’s jobs amounted to about 224,000 positions in all sectors of the economy of the United States. 84% of these had Paralegal qualifications above both Associate’s and Bachelor’s Degree, with about 10% Paralegals who had higher degrees leaving only about 6% Paralegals who have been trained on the job and working without formal Paralegal education.

As was in the beginning, private law firms controlled the lion share of employing about 70% of all working Paralegals then; today, according to present day employment statistics, this number has fallen as the Paralegal profession continues to expand into deferent fields of human endeavor. Many paralegals and legal assistants these days work for corporate legal departments and various levels of government agencies and None governmental organizations..

The U.S. Department of Justice is the largest employer of Paralegal within the Federal Government, followed by the Social Security Administration and the U.S. Department of the Treasury. State governments and Counties are also increasingly employing Paralegals to help make legal services available to the common man on the street.

More Paralegals are setting up private Paralegal offices in states where the law provides such privileges and work as freelance legal assistants, contracting their services to attorneys or corporate legal departments.

It is hoped that in the nearest future the Paralegal profession would be robust enough to receive country wide approval for Paralegals to practice freely providing legal assistance to all and sundry according to the law. This will be a step in the right direction considering that in the United Kingdom, Solicitors play the same roles as registered legal practitioners.

Why Healthy Food For Diet?

People already know that they need healthy food for diet. The problem is, not many of them really understand the meaning of it. Most of them are more interested in the diet itself than more the healthy food. Well, we need to get it right because there will be no result for our diet without we eat the right kind of healthy food.

Before we talk about the kind of food, we need to understand the meaning of diet. Diet is a way of controlling the amount of food and the kind of food entering our body in order to get a healthy body. So there are two things that we need to keep in mind, the amount and the kind of food. Actually by eating the right kind of foods, we do not need to worry to much about the amount.

Why? Because by choosing the right kind of food that can actually burn fat and help us gain muscle, and avoiding the kind of food that only encourage our body to store fat, we do not need to worry anymore either we should eat more or less. The more we eat, the more we burn fat and gain muscle.

For an optimum health, we also need foods that contain carbohydrates, protein, vitamins, minerals, and fat. We need all those nutrients so that our body can perform an optimum metabolism. So if you are following a diet or weight loss plan that recommend you not to eat one of them, you better STOP NOW.

We can actually find these foods anywhere. Lean meats and steaks, raw fruit, raw nuts, vegetables, olive oil are sources of healthy food. The key is choose raw or less processed foods.