Dominic Gomez Life insurance pd.2 by Dominic Gomez https://padlet.com/04dgomez/iazwu6c6ys7d Mrs. jorgenson en-us 2019-11-05 14:11:26 UTC 2019-11-05 15:09:53 UTC hello@padlet.com What is life insurance 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406851770 Life insurance is a contract with a insurance company. The insurance company provides a sum of  payment, known as a death benefit, to beneficiaries upon the persons insured death.]]> 2019-11-05 14:18:46 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406851770 Citations 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406856013 https://www.fidelity.com/life-insurance/life-insurance-planning/what-is-life-insurance

https://www.policygenius.com/life-insurance/types-of-life-insurance/#term-life-vs-whole-life



]]> 2019-11-05 14:24:48 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406856013 Term life insurance 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406857564 also known as a pure insurance policy. when you pay your premium, you’re just paying for the death benefit that goes to your beneficiaries in the event of your death.  It is designed to provide financial protection for a specific period of time, such as 10 or 20 years. Costing between $30-40 a month for your term]]> 2019-11-05 14:26:44 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406857564 Universal life insurance 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406861009 this  type of life insurance is a type of permanent life insurance designed to provide a lifetime coverage. Your premiums go toward both the cash value and the death benefit. it also allows you to change the benefits when ever you want because they are flexible. This also helps you build up your cash value.]]> 2019-11-05 14:31:25 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406861009 whole life insurance 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406866510  is another type of life insurance has a death benefit but also a cash
value, where the premiums you pay monthly or annually are partially used to fund that cash value. the fees portion decreases and more of the premium goes directly to funding the cash value.
Due to the fees and the extra feature, a whole life insurance policy can cost up to ten times more than term life insurance .Whole life can be used as an estate planning tool to help preserve the wealth you plan to transfer to your beneficiaries.
]]> 2019-11-05 14:38:39 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406866510 variable life insurance 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406870315 A variable life insurance , cash value,  is more like what you would expect in investing.With a whole life insurance policy, the cash value component is a savings account .Even though the growth might be small compared to other investment options, there is a guaranteed minimum rate. It also includes dividend payments from the life insurance company.

]]> 2019-11-05 14:43:54 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406870315 what are beneficiaries 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406873396 a beneficiary can be one person two or more or a group of people. beneficiaries are people that you want to give your money to when you die. when you die your beneficiary will make a claim and the insurance company will either pay you the money in you plan or they will pay you there net worth.]]> 2019-11-05 14:47:53 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406873396 your premium 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406880066 factors that determine your
premium 
age
physical condition
if you smoke
medical history 
family medical history 
and your occupation.]]> 2019-11-05 14:56:02 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406880066 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406887045 2019-11-05 15:04:31 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406887045 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406887773 2019-11-05 15:05:24 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406887773 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406888169 2019-11-05 15:05:52 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406888169 04dgomez https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406888602 2019-11-05 15:06:24 UTC https://padlet.com/04dgomez/iazwu6c6ys7d/wish/406888602