Insurance Glossary ot Terms

Written by Ken Barnes


Assured - Those insured underrepparttar terms of an insurance policy.

Benefit - The money paid torepparttar 140567 policyholder when a claim is made.

Bid Price - The selling price or cash-in value of your unit holdings.

Bonus - Relates to a with-profits policy. The amount of money added torepparttar 140568 benefit payable underrepparttar 140569 policy. The amount is dependent uponrepparttar 140570 profits made byrepparttar 140571 insurance company. Added bonuses cannot be taken away.

Convertible Term Assurance - A term insurance policy which gives yourepparttar 140572 option to convert your current policy to a whole-life or endowment insurance policy, without having to take further medical examinations.

Critical Illness Insurance - A policy that pays out a lump sum onrepparttar 140573 diagnosis of life threatening illnesses indicated inrepparttar 140574 terms ofrepparttar 140575 plan.

Decreasing Term - A form of term life insurance whererepparttar 140576 death benefit decreases each year as per your policy. Premiums remain level. This type of certificate is frequently sold as mortgage insurance. There is no surrender value for this policy.

Endowment Insurance - An insurance policy that pays a stated amount atrepparttar 140577 end of a specified period or uponrepparttar 140578 death ofrepparttar 140579 insured if it occurs within that period.

Family Income Benefit - Term assurance which pays money torepparttar 140580 life assured’s dependants for a set period, rather than paying a lump sum.

Guaranteed Bond - A bond in which principal and interest are guaranteed by an entity other thanrepparttar 140581 issuer. Guaranteed Bonds can be income or growth.

Increasing Term - The cover andrepparttar 140582 amount you pay intorepparttar 140583 policy are increased by a specific percentage each year calculated onrepparttar 140584 original sum insured. Designed as a way to increase your life cover as your earnings increase.

Investment Bond - Combines investment with some life cover. The payments you make into an insurance policy or investment bond, usually a lump sum, are invested inrepparttar 140585 insurance company's with-profits or unit-linked funds (Life Funds). Different types of bonds includerepparttar 140586 guaranteed bond and unit-linked single premium bond. Not to be confused with a company or government bond, an investment that offers a fixed rate of interest and an area where your chosen Life Funds may be invested.

Life Fund - This usually refers to Unit linked Investment Funds. These are funds run by Life Assurance or Pension Companies. Such funds are used for individuals holding life assurance policies to invest in. The assets held withinrepparttar 140587 fund are divided into a number of units. When an investor contributes to a Life Fund, units are allocated to investors in proportion to their investment.

Maturity - An agreed date when an endowment policy ends andrepparttar 140588 proceeds, including any bonuses, are payable.

Mutual - A life insurance company that is owned by its with-profits policyholders.

Offer Price - The price at which fund units are bought.

Premium - The amount of money paid into an insurance policy.

Proprietary - A life insurance company that issues its profits to its shareholders.

Qualifying Policy - A life assurance based savings plan that has to be written for a minimum of 10 years and must fulfil certain qualifying policy criteria to ensurerepparttar 140589 final payout is tax free.

Loans for unemployed - when your personal economy slumps during difficult times

Written by Amanda Thompson


The latest IDS figures for unemploymentrepparttar claimant count measure of unemployment rose by 8,100 by April 2005 to stand at 839,400 (a rate of 2.7 per cent). Unemployment is unforeseeable, yet very prevalent. Job loss is one ofrepparttar 140503 most trying time period of one’s life. Everybody has gone through that phase at least once. The one thing every unemployed knows is that unemployment doesn’t pay bills. It becomes more and more difficult to cope with unemployment withrepparttar 140504 increasing financial pressures. And financial urgencies are like right then and there, just waiting to pounce upon you atrepparttar 140505 worst time. Since all roads seem blocked, I would want to tell you there is still one road to monetary relief. Shall we walk on it? It is named loans for unemployed. Your bills are continuously gyrating while some money requirement could be just waiting to knock on your door. It is a cluttered situation. Be realistic in estimating your job prospects and whether you are looking for a few months solution or a year solution. It will enable you to make a logical application for your unemployment loan. Loans forrepparttar 140506 unemployed are not that frequently laid down on a platter. Every loan eventually boils down torepparttar 140507 question of repayment. Usually loans lenders take job asrepparttar 140508 criteria of your ability to repay loan without default. However, unemployed with substantial assets would find it fairly superior chance to qualify for loans for unemployed.

Loan lenders will make an offer to an unemployed loans borrower and won’t even press for documentation ifrepparttar 140509 borrower makes a sizeable down payment. This down payment is usually 25% or more. A home equity line of credit can provide financial guarantee forrepparttar 140510 unemployed. There is two way to draw onrepparttar 140511 equity of your home. You can get a home equity loan which is a lump sum and paid back in some specified time.

Or an unemployed can take a home equity line of credit which is like a credit card with revolving balance. You draw against it when you want, like using a credit card, and as you repayrepparttar 140512 balance,repparttar 140513 credit becomes available again. A home equity line of credit or HELOC’s can be very accommodating in case of periodic expenses. Basic necessities are easily fulfilled withrepparttar 140514 help of line of credit during unemployment period. This will enablerepparttar 140515 unemployed to get those increasing credit cards bills to rest.

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