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Life insurance rates or life insurance premiums are fixed amounts, taking into consideration the average well being and life expectancy of the insured. This is the amount that goes forms the corpus fund through which payments are made in case of a loss. An additional amount is also incorporated in the premium if a double accident benefit or any extra rider is added to the policy. The rates also differ depending on the amount insured, the period of insurance the modes of payment and the type of policy.

Life insurance rates take into account risk factors, the age at the time purchase, the health of the insured and capacity to pay. Additionally, interest, administrative expenses, unexpected contingencies and fluctuations are also taken into account. Using actuarial science, tables are set out that give rates payable for different ages, periods and plans. As an example, if in a particular area with a population of 10,000 people of a specific age, one death might occur within a year, then the mortality (more...)

Health insurance ranks high among the top big businesses of our time. With cost of treatment going up, all of us need to protect ourselves by subscribing to some health insurance plan. For group insurance, the companies offer substantial discounts. However, if you are not employed or self-employed, you have to face the music. The insurance companies become more selective and also their insurance premiums are substantially increased. We give here under some guidelines to help you with the selection of good individual health insurance plan.

a)Specify your insurance needs:
You would do well to sit down and jot your health insurance requirements. How old are you? What is the age of your other family members proposed to be covered? Do you have any past history of chronic diseases, which you want to be covered etc. Would you like to include and exclude certain treatments of your choice. These choices will make a significant difference on the premium you will ultimately pay for your policy.

b (more...)