insurance is a topic that is still a bit of a grey area for many individuals. Individuals have a tendency to graspthe needfor motorinsurance Cheap Nike NBA Hats , medical aids, house insurance and business insurance but when it comes to caringfor themselves through life insurance coverage, it’s generally delayed until tomorrow or the next day. andsometimes tomorrow might be too late!


In South Africa, many people have in the past been declined a life insurance policy due to the fact that they are infected with the HIV virus. Thankfully Cheap Nike NBA Shirts , this is gradually changing and some insurancefirms are now offering a HIV life insurance policy particularly for individuals living with the HIV virus.


Whether or not you’rea healthy individual attemptingto obtain a life insurance coverage, or copingwith HIV and attemptingto acquire HIV life insurance, the basic principles related to life insurance stay the same. Let’s look at a few of the terms and phrases that are often used in life insurance policies. Perhaps a better understanding of the terminology and conditions will help to get people to understand how important and easy to obtain life insurance really is.


Annuitant: A life insurance policy is calculated based on the expected life span of an individual. For example, if a young person obtains a life insurance policy Cheap Nike NBA Hoodies , chances are that this particular individual will be able to contribute to the policy for an extended period of time, while anadult person might have a life expectancy of only 20 or 30 years. The annuitant is the individual whose lifetime (expected life span) is used to calculate the available pay period of the life insurance policy.


Beneficiary: The beneficiary is the person who will benefit through the policy. In other words, the beneficiary will be the person receiving the life insurance funds. This can be the policy holder in case of disability for example or the policy holder’s family in the event that the policy holder dies.


Cash surrender value: It’s possible that a life insurance policy can be terminated for reasons that have absolutely nothing to do with the insured’s death. In cases like this the cash surrender value refers to the amount of money that will be paid to the policy owner upon termination of the policy.


Death benefit: The purpose of a life insurance plan is generally to provide for the policy holder’s family members incase the policy holder passes away. The death benefit refers to the amount that will be paid to the family members (or whoever the beneficiary might be) in the event that the insured dies.


Lapse: Once you stop paying your insurance premiums, your life insuranceplan can be terminated. Policy owners areusually given a grace period in which they can still make payment Cheap Nike NBA Jerseys , but if the client still fails to make payment the policy will lapse.


The above terms should make getting life insurance or HIV life insurance a bit less daunting! If you are still unclearabout the best life insurance coverage for your needs and requirements, call in the assistance of a reliable agent or broker!


For more information on hiv life insurance, go to http:www.alllife.co.za


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