What Benefits are Available on Life Insurance?

I want life insurance what options should I consider adding?

When taking out a life insurance plan there are a number of different options you could decide to add should you think they would be appropriate to your circumstances. These need to be added at the start of the life insurance policy from the outset.

Waiver of Payment Benefit

Waiver of payment benefit can be added to most life insurance polices, this benefit if added means that you do not have to pay your life insurance premiums if you cannot work for six months or more as a result of illness or injury. Most of the insurers will expect the premiums to be paid on the life insurance policy for normally at first, however after normally about 26 weeks of incapacity the premiums will be waived.

The incapacity or waiver on a life insurance policy is normally assesed by something called Functional Assessment Tests and these are to be done without the help of another person.

Walking - the ability to walk 200 metres on the flat ground with or without the aid of a walking stick without stopping or experiencing discomfort.

Bending - the ability to get into and out of a standard saloon car and the ability to bend or kneel to pick an object up off the floor and straighten up again.

Communicating - the ability to answer the telephone and to take a message.

Reading - having the required eyesight(corrected if necessary) to be able to read a daily newspaper

Writing - having the physical ability to write legibly using a pen or pencil without aid.

Climbing - having the ability to climb a flight of 12 stairs without stopping or suffering severe discomfort.

These are only guides and should not be relied upon totally your life insurance broker, will be able to advise in individual circumstances

Conversion of Life Insurance Policies

Some life insurance brokers/assurance companies will offer the flexiblity to convert your life insurance policy to a Whole of Life Plan without providing further medical evidence. When taking this option there are some restrictions that need to be explored fully when adding it. Your life insurance financial advisor/ broker needs to advise you on this option carefully.

Indexation of Life Insurance Policies

This option is added to keep your life insurance policy up with inflation. Both the premiums and the amount of life insurance increase with the RPI (Retail Price Index) this can be up to 10% in any one year. Normally if the indexation option is added to the life insurance policy the opportunity to increase the cover will be given regularly but if it is declined it wont be offered again.

If you are ever in any doubt about what options to add to your life insurance policy then you should consult your life insurance broker and request the technical guides and key facts for the products being considered. Life insurance is not complicated but it is important to pick the right policy with the right options from the outset.

Mike Armstrong
http://www.articlesbase.com/insurance-articles/what-benefits-are-available-on-life-insurance–93266.html

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Comments on What Benefits are Available on Life Insurance?

November 29, 2008

necrounreal @ 4:52 pm

hey nice ad and the …
hey nice ad and the song is well sung too
a touch of kishore ar dontcha think so

o11235813 @ 4:52 pm

This is the best ad …
This is the best ad on TV :) I think all the actors are really good and its directed so well. Never fails to bring a smile on my face :) The full version of the ad is really good.

kushsoni @ 4:52 pm

ha ha Lolzzzzzzz :-)
ha ha Lolzzzzzzz :-)

viraagchobe @ 4:52 pm

you need to give me …
you need to give me your e-mail id i will send it to you

saru010203 @ 4:52 pm

hi, can anyone send …
hi, can anyone send me the ringtone of max ny life insurance “nazar ko kya chahiye…” thanks pals

saru010203 @ 4:52 pm

hi chief, can you …
hi chief, can you send me the ringtone of max ny life insurance “nazar ko kya chahiye…” thanks pal

worldworld007 @ 4:52 pm

is it some movie …
is it some movie song?

yesforshatheesh @ 4:52 pm

som1 pls upload …
som1 pls upload this ad in Tamil version

viraagchobe @ 4:52 pm

Hello guys finally …
o guys finally i downloaded the max new york life advt. and also converted to my mobile Nokia N 73 format

summdr @ 4:52 pm

really very nice …
really very nice add as well as song

NiviChang @ 4:52 pm

its you??!?!? n hey …
its you??!?!? n hey i checked ur profile in orkut too…!! :) all the best sweetheart!

rajatbarmecha @ 4:52 pm

thanx…em the guy …
thanx…em the guy walkin on the rd…

NiviChang @ 4:52 pm

hey hey plz sum1 …
hey hey plz sum1 help me in findin the guy whose walkin…m TODALLY fida ova him!!! plzzz!

inketan @ 4:52 pm

fantastic ad….to …
fantastic ad….to me its one of the best…MAX NY LIFE’S previous ads were equally good…….

sushantisgreat @ 4:52 pm

very effective ad.. …
very effective ad…the linkage between the people is shown in a very gud way.Innovative!!!

rupikaraina @ 4:52 pm

One of my fav. ads …
One of my fav. ads so far..I was missing it!! Thanx for uploading it..

cheekusjacks @ 4:52 pm

Thank U …
Thank U soooooooooooooooooooo much 4 uploading this…They’ve come out with a ner 1 & stopped showing this 1…Since then I was missing this ad so bad & hunting 4 it…Got it finally….& I’ve added it 2 my fave…Never remove this Ad plzzzzzzz!
Thanx a ton…God Bless!

coolguy200602 @ 4:52 pm

great ad !!
great ad !!

SgtPaperbag @ 4:52 pm

Nice ad. the song’s …
Nice ad. the song’s great.
Btw, Watch at 0:49. He’s got a crash test dummy for a driver. lol!
Or is he a burn victim. muhahaha

viraagchobe @ 4:52 pm

is it possi. to …
is it possi. to download this funtastic ad. for mobile

tukai79 @ 4:52 pm

Maybe not the best …
Maybe not the best of all times but definitely the BEST ad we see on TV nowadays.

coldcappucino @ 4:52 pm

FANTASTIC ad
FANTASTIC ad

jdbonline @ 4:52 pm

It’s a mindblowing …
It’s a mindblowing jingle. It has that typical essence of a Kishore ar-R.D.Burman combo, doesn’t it? Think of “Chala Jata Hoon Kisee Ki Dhun Mein…”

tuffnutt69 @ 4:52 pm

One of the very …
One of the very best I have seen.
Thats advertising at its best.

hijacker003 @ 4:52 pm

Yeah..Really …
Yeah..Really Awesome!

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Life Insurance Coverage Requirements Regarding Cosmetic Surgery Are Arbitrary And Even Unfair?

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