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Life Insurance - The Basics > Everything You Need to Know About Life Insurance
Everything You Need to Know About Life InsuranceAuthor: Peter WiseLife insurance is a type of protection that can be bought and insures the buyer in the event of death. The risk that is assumed by the insurer is the risk of death of the insured. Life insurance is a very good purchase in order to protect a family, especially if you are the sole breadwinner. Additionally, life insurance can help pay for funeral costs and therefore ensure that your death will not be a financial burden for your family. It is important to understand the process of life insurance in order to truly grasp its value. A life insurance transaction has three parties: the insured, the insurer, and the owner of the policy (the insured and owner of the policy are often the same person). One of the most important parties involved with life insurance is the beneficiary. The beneficiary receives the policy proceeds upon the death of the insured. Only the owner of the policy can change the beneficiary. If the beneficiary is an irrevocable beneficiary, then any changes in beneficiary must be agreed to by the irrevocable beneficiary. In order to solidify a life insurance plan with an insurer, the insurer must evaluate the insureds lifestyle. The insurer evaluates the risk of insuring the customer. Some insurance companies will not grant insurance to people with serious health issues, or extreme lifestyles. Insurance companies charge differing amounts for life insurance based on the risk evaluation. Part of the risk evaluation is a health evaluation. There are for categories for people seeking life insurance: Preferred Best, Preferred, Standard, and Tobacco. Having no family history of illness or early cancer, and being extremely healthy and active can result in a Preferred Best rating. Depending on lifestyles, and family histories, a person is slowly moved down the ladder. It is easy to move down the categories but almost impossible to move up a category. Life insurance is a legal contract that has terms and conditions. In the event of the suicide of the insured, most insurance companies will declare the policy null and void. Misrepresentation by the owner or insured on the life insurance application is also a plausible reason for the policy to be nullified. Insurance companies are entitled to know the circumstances of the insureds death and can decide whether or not the policy should be nullified if there is suspicion of suicide. A death certificate must be shown to the insurer to prove the death of the insured. As with any insurance policy, life insurance takes a substantial amount of time to mature. Once matured, the face value of the policy is given. A policy matures upon the death of the insured, or when the insured reaches a certain age. Depending on the policy, the insured can make differing amounts of payments over time. As with all insurances, failed payments result in the termination of the insurance. Life insurance is a very good thing to have because it protects your familys financial well-being. In the event that you were the sole worker, life insurance can pay your family your salary for many years (depending on the policy). Life insurance can also cover the costs of funerals and therefore your death wont be a burden on your family. About the author: Peter Wise is interested in financial matters and writes for Life Insurance Lowdown ( http://www.lifeinsurancelowdown.com). "5 Ways To Ensure You Will Have a Happy Life After Divorce"Karl AugustineLife after divorce is something that most people who are going through divorce think about. Thinking about having a life after divorce or thinking about how your life will be after divorce, are common because people tend to fear for themselves. In fact, think about having a life after divorce while getting a divorce can be a sticking point for some people because they just aren't sure what their life will "look like" after divorce. Here's 5 things to keep in mind so can have a life after divorce: Life after divorce item 1: Think about your emotional stability...if you wanted the divorce or not, you must face it head on. Divorce is tough and whether you're going through it or your are already past it, your emotional stability is of vital importance because you might tend to be somewhat touchy after going through an emotional ordeal. Keep in mind that your life after divorce can be great but you must admit that you will go through (or have gone through) a trying time in your life. Admitting this and facing your situation head on is important to your emotional stability and critical to you having a happy life after divorce. Life after divorce item 2: Look at the bright side, having life after divorce could be a new start for you! How may times in your life do you wish you could have just started over knowing what you know now? If you answered "many", don't worry, that's a common thought most of us have. Having a positive mental attitude about your new beginning will make a huge difference in how happy your life will be after divorce. Life after divorce can be fantastic and it can also be very tough if you don't remain positive about a what's in front of you. Look at the glass as being "half full" and realize that, in order to be happy after divorce, you must take advantage of the opportunity to get a fresh start! Life after divorce item 3: Surround yourself with people you like in your free time. Too often times people start new relationships with just about anyone because they are lonely while getting a divorce or after getting a divorce. Sparking a relationship, romantic or friendly, with anyone and everyone who will spend time with you can contribute to unhappiness in your life after divorce. Stop and think about the people that you spend time with and ask yourself, "Once my emotional turmoil has ended, would I really want to keep the relationship going with this person?". Life after divorce is tough...so, when you're deciding about divorce, going through one, or already have been through a divorce, make sure that you carefully choose who to spend your free time with or you may fall into more negativity in your life after divorce. Life after divorce item 4: Make it a point to spend time doing things that you like to do every week. Make sure that you spend time enjoying your life after divorce - don't forget to 'stop and smell the roses'. Some people vent, work, go into hiding, or just plain go haywire after getting a divorce and their subsequent life after divorce isn't as healthy as possible. At least once a week, take the time to go and do something that you really enjoy doing...it will help you deal with your life after divorce in a more pleasing manner. Life after divorce item 5: Set specific goals and implement a plan to achieve those goals. Life after divorce is a tumultuous time, your life can seemingly be 'in the balance'. In order to make sure that you feel good about yourself and enjoy the feeling that accomplishment brings, think about a goal or set of goals that you've always had but never attained. Then, prioritize those goals and devise a plan to obtain them, one by one. Implement each plan and be happy (in fact celebrate) once you've reached your goal. Your life after divorce will be markedly better and healthier if you take this concept to heart and follow it. Visualizing your life after divorce (and thinking about what your life might be like after divorce) is a sound and logical thing to do in order to be happy after divorce. Your life after divorce does not need to be a continuation of the pain you might have gone through or are currently going through. Life after divorce can be extremely liberating if you act based on logic plus positive emotions rather than negativity. If divorce is eminent or you've already been through divorce, take the time to actually plan your life after divorce. About the author: Karl Augustine, 2005 "A Practical Guide To Deciding Whether Or Not To Get A Divorce" An eBook recommended by marriage counselors and relationship coaches to their clients. Click Here To Read 2 FREE Chapters! Life After Divorce
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