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Guarantee Plans & Insurance Providers Select GROUP for Insurance Plan and Details  
Guarantee Policy : Know About

When Your Medical History Doesn't Look So Good Guaranteed issue life insurance is a policy that's guaranteed to anyone... without regard to health conditions. You might think this sounds awfully risky for the insurance companies. They get around it in ways.

Guaranteed Issue Life Insurance

First of all, guaranteed issue life insurance policies have "graded benefits". This means that if the insured person dies within a specified amount of time, the beneficiaries only receive a portion (or none, in the case of contestable periods) of the death benefits. Most guaranteed issue life insurance policies only pay full benefits after the first two years of the policy. So if Mr Kumar purchases a guaranteed life insurance policy in 2006, and dies of cancer in 2007, the beneficiaries will only get a portion (or none) of the benefit.
Another way companies make money off guaranteed issue life insurance is by charging more for the premiums. They also set age limits on the policies (typically, they won't insure someone over seventy years old.)

What Kind of Insurance is Guaranteed Issue Life Insurance

It's a whole life insurance policy, but the premiums are higher because no-one can be turned down. This means that guaranteed life insurance policies accrue a cash value over time (usually after the first couple of years). A portion of the premiums pay the cost of insurance, while the rest builds the cash value.
And since it's a permanent life insurance, the premiums do not change, nor does the death benefit. As long as the premiums are paid, guaranteed issue life insurance is good for as long as you live.

Are There Exceptions to the Graded Benefits with Guaranteed Issue Life Insurance

Most policies will still pay the full amount of death benefits if the insured dies in an accident. But this is generally the only reason. In other words, if you find out you've only got three months to live, guaranteed issue life insurance won't help you.

What Else Should I Know About Guaranteed Issue Life Insurance

Since the policies are open to anyone, guaranteed issue life insurance doesn't require a medical exam or even a medical history. The questions asked are very general, like name, age, address, etc.
Most guaranteed issue life insurance policies have a limited death benefit amount. Guaranteed issue life insurance policies are most often sought to cover burial expenses, debts left in the estate, and medical bills.
You can use the cash value in a guaranteed issue life insurance policy to cover emergency expenses while you're still alive. You can withdraw the money, and end the policy or accept a lower death benefit. Or you can borrow against the cash value and keep your benefits the same once you've paid the loan.

Guaranteed issue life insurance isn't for everyone. But if you have trouble obtaining other insurance policies because of a health condition, and expect to live for at least two years, guaranteed issue life insurance might be your only option.
Talk to your Insurance Agent to ensure Guaranteed Issue Life Insurance is right for you!
Guaranteed Plans - Am I Right In Choosing?

Everyone wants to do right by family, and life insurance is exactly that – a way to take care of spouse, children, and other heirs or family members after death. In addition to standard insurance, though, many policies are adding features that turn insurance coverage into a form of savings, such as cash value life insurance. Are these policies a good investment, or are there better ways to help savings grow?

The savings (investment) component of the policy premium is invested into the financial market instruments to avail a greater rate of return than from traditional insurance policies.
Return on investment linked to the financial market
Investments can be made into equity (asset appreciation), debt (regular income), or money market instruments, etc

Wealth Creation Through Life Insurance

Wealth Creation Through Life Insurance is a technique which every person should learn about. The richer you want to get, Insurance is the top most tool to achieve your target. Below mentioned NEGATIVES to consider on how to create wealth :

  1. Risk of an early death (life insurance)
  2. Risk of out-living ones income (pension plan)
  3. Risk of illness and health problems to oneself & the family (health insurance)
  4. Risk of accident causing loss of life or impairment (accident insurance)
  5. Risk of loss and damage of property (property insurance)
  6. Risk from professional liability (liability insurance)
    Health Insurance
Why Health Insurance? :
It covers the expenses incurred towards the hospitalization, medicines and treatment for disease/illness for oneself and the family. Health Insurance provides for the unforeseen medical bills that would otherwise be a burden on the hard earned savings
What products:
  1. Mediclaim insurance policies
  2. Overseas Mediclaim insurance policies for travel and stay abroad
  3. Special Mediclaim Policies covering pre-existing diseases, etc. (for additional premium)
Accident Insurance
  1. In case of death of the insured person due to an accident the Sum Insured is paid to his/her dependants
  2. Also if the accident results in the total/partial disablement, either temporary or permanent, the sum insured is payable in the case of a comprehensive accident cover policy
  3. Accident cover also available as a rider to life insurance policies
Property Insurance
  1. Household Insurance: provides for the damage to the house building, premises and the belongings due to natural calamities, burglary/theft, fire, etc.
  2. Motor vehicle Insurance: provides for the “third party liability” that may be caused due to the use of ones four and two wheeler, as well as for the loss/damage to the motor vehicle and injury/death to driver and owner (under comprehensive motor insurance plan).
  3. Travel Insurance: provides insurance cover for loss of baggage, passport loss, medical emergency or accident during travel for work/pleasure.
  4. Shop/Office Insurance: provides insurance cover for the damage/loss to the premises and the contents of the own shop/office.
Liability Insurance
  1. Provides insurance cover for the liability that may arise from the practice of ones profession.
  2. A must for professionals such as doctors, lawyers, chartered accountants and others, for risk-free practice of their professions.