Posts

Life insurance and basic guidance

Image
1. Economic justification for life insurance If a family member earns a periodic income that the family members depend on to support, educate, care for and satisfy their needs, his early death, leaving family members and unpaid debts, will expose them to a violent financial crisis and economic instability. Before his death, and when the family dies, the family is exposed to the following losses or crises: * Final expenses / last expenses, which are the obligations incurred by the family member at the end of his life, such as his pre-death hospital bills, funeral expenses, debts, credit card, taxes and attorneys' fees. The family is supposed to dispose of the last expenses immediately after death * The family's lack of periodic income from which she lived during the family life Therefore, the purpose of life insurance is to pay a lump sum in the case of the death of the family member to pay the last expenses, and the remainder of this total amount is deposi...

Life annuities

Image
Life annuities are called short payments or payments in the context of speech, although it is better to use life payments or periodic life payments in the title of the article or subject title to distinguish them from other types of payments such as loan repayment payments * Life payments may be called in a lenient language or beyond pensions or pensions, although they are not really pensions, but they are similar to pension * In contrast to life insurance, life payments are often linked to payment by the survival of the payment alive alive. If the insurance company stops paying these payments, and with some exceptions, let us assume that a man of retirement age has a sum of money (Interest) of this amount to cover the cost of living is forced to be paid out of capital, capital decreases year after year and thus decreases the return of it until it loses its capital in one day, and for peace of mind, this man can go To the insurance company, giving it its capital, which i...

Life Reassurance

Image
Reinsurance is a method whereby the life insurer, the company that insures the life of the insured, transfers part of the risk to another company called the reinsurer, and life insurance company called the assigned company or the original company. Insurance is to reduce the risk of insurance facing the insurance company, the insurance risk facing the life insurance company is premature death Life insurance companies accept re-insurance from one another. However, there are specialized reinsurance companies that do not accept direct insurance, meaning that they do not deal directly with the insured Persons participating in the reinsurance market The reinsurance market consists of reinsurance buyers, intermediaries and reinsurance sellers, buyers such as direct insurers who deal with the insured and buy reinsurance, brokers such as insurance brokers, sellers such as reinsurers, and direct insurers as sellers also accept re-operations Insurance from each other The Insured is n...

Life insurance and loans

Image
In this part, we are looking at loans with a life insurance policy and how to determine them for traditional documents, which are not linked directly to investment performance, which have an insurance amount on maturity in countries that do not use the concept of monetary value in liquidation of the document, 1. The loan is guaranteed by the policy loan There are two types of loans, insurance companies, a loan called interest loan, and a loan called a loan payments Means that the loan is paid in equal installments at an interest rate, for example a loan of installments and the principal of the loan is equivalent to one thousand pounds to be repaid in equal monthly installments at an annual interest rate of 6% ,, and the monthly installment is equal to 30.27 pounds for 36 months Loan Interest is a loan that is paid in whole or in part at any time when the contractor wishes to repay the loan in full or in partial payment, there are no equal periods of time in whic...

Credit insurance

Image
Credit is the system of selling goods or services without immediate payment of money, in the hope that the buyer will pay what is on the agreed dates, hence the risk facing the seller in each transaction or the process of payment, because when it is time to pay to pay The buyer may not be able or willing to pay what he has. This buyer may be insolvent, bankrupt or liquidated, so the subject of credit insurance is the risk of non-payment to the seller. Under the credit insurance, the insurance company Payment to the seller (to the creditor) if he fails to collect debts from buyers (debtors) Credit insurance is the insurance of creditors that protects them if they can not collect their debts. The term "life insurance" refers to insurance that pays the remaining balance of the loan to the creditor if certain events such as death or disability lender mortgage insurance LMI / Private Mortgage insurance PMI Is the insurance that protects the lender and not the borrower in c...