Ordinary or straight life insurance Sunday, June 18, 2006
In this policy the insured person pays premiums as long as he lives. Payment may be made on a monthly, quarterly, semi-annual, or annual basis. In nearly all cases the annual payment saves money for the buyer of the insurance, as the premium is lower. Upon death of the insured, the beneficiary (or beneficiaries) receive full payment of the face value of the policy. If annual dividends have been left to accumulate with the company at interest, this money too is paid out to the beneficiary.
posted by your Insurance @ 10:08 AM,
