Whole life insurance

Whole life insurance also works as an investment account in some ways, allowing you to borrow against it if you get into a financial bind during life. This is called a living benefit, and it basically means that the policy collects cash via an interest rate, much like a savings account. You can also choose other ways to invest the money in your whole policy. You can even use the policy as collateral for a loan if you desire.

Term life insurance provides you with temporary coverage that lasts for a set amount of years, which is determined at the time you buy the contract. A term policy only pays out in the event of your death, so there is no living benefit with this kind of insurance. However, a term policy is cheaper than a whole, so this may actually be an attractive way for you to get life insurance.

 What is PPO.

The Preferred Provider Organization is actually similar to HMO in when it comes to the physicians and other healthcare providers working together as a team and having discounted rates. The most distinct feature of PPO that differs itself from HMO is that it does not depend on a specific list of doctors. Meaning it has a wider coverage of physicians. Although this means extra payment for the patients many have opted to apply for this plan because of this feature.

Insurance Introduction

Insurance Introduction
Life is full of risks and accidents. People are at risk for getting injured when playing sports, riding in a car, or living in a house. Risk is uncertainty about a situation’s outcome. Risk can be unpredictable events which lead to loss or damage. Insurance is an arrangement between an individual (consumer) and an insurer (insurance company) to protect the individual against risk. Insurance plays a large role in most individual’s financial management plans.


Premium—the fee paid to the insurer to be covered under the specified terms.

Deductible—the amount paid out of pocket by the policy holder for the initial portion of a loss before the
insurance coverage begins.

Policyholder—the consumer who purchased the policy

 Liability insurance—covers the insured if injuries or damages are caused to other people or their property; it is the minimum amount of insurance required by law for automobiles.

Physical damage insurance—covers damages caused to the vehicle; two optional forms of coverage are available
 Uninsured or underinsured motorists insurance—covers injury or damage to the driver, passengers, or the vehicle caused by a driver with insufficient insurance.

 Medical payment insurance—covers injuries sustained by the driver of the insured vehicle or any passenger regardless of fault; also covers insured family members injured as passengers in any car or if they are injured while on foot as a pedestrian or while riding a bicycle.