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A life insurance policy helps your family out of having to pay for your financial needs after you die. If you have any unpaid debts, your partner might be liable to it. In addition, if your partner was dependent on you with earnings, your spouse may be left destitute without having sufficient life insurance from you. Considering your life insurance policy only spends if hers in force, you must spend your premiums on time. Make positive your partner understands where your policy is kept. If you've lost your life insurance policy, produce sure you understand how to get a copy of it and the way in which to read it.

Trouble: Tolerably Easy

Instructions

1 Call the insurance company you took your scheme out through if you've lost your original policy. Request any copy of the contract.

2 Review the basic policy information in the front about the contract. The first section of your policy outlines what type of policy it is, the terms and conditions, and the maturity date about the scheme (10 years, 20 years, to your era 65, to your age 100).

3 Look in the charge about insurance. Quite a few policies, like phrase life and universal life insurance, break down the cost of insurance so that is you can see the internal expenses being charged in the policy over time. These charges are expressed like "cost per thousand," also refer to the amount of money being charged each $1,000 of death benefit you purchase.

References

"Life Insurance"; Kenneth Black, Jr., Harold D. Skipper, Jr.; 1994 "Practicing Financial Planning for Professionals (Practitioners' Edition), 10th Edition"; Sid Mittra, Anandi P. Sahu, Robert Any Crane; 2007

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