For how long is a premium in term life insurance contract constant?
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randal
Apprentice
Joined: 08 Jun 2005
Posts: 4
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 Posted: 08/12/08 - 09:28 Post subject: |
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I have recently been thinking about securing myself. I would go abroad and some people recommended me to get some life insurance. However, I am not sure what that exactly is and I am interested in how long is a premium in term life insurance contract constant. If anyone can help that would be great.
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luce
Apprentice
Joined: 06 Oct 2007
Posts: 3
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| Posted: 09/10/08 - 21:37 Post subject: |
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| Insurance policies are one of the most important aspect of your financial security when you have some valuable asset to protect. The truth is, you always have at least one - your life and health. When it comes to term life insurance, the point of it is that it is periodical. It is made for one specific period of time, and one specific event - namely death. Its mechanism works in such a way, that there is no rising premium and no additional benefits, while rates go steadily up. Premiums are constant for the period stated in the contract and it is generally lasting for a period of time, say couple of years, after which time you would have to pay in order to sustain the premium. Hope you find the info helpful. |
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