Sunday, February 17, 2008

What are 'Traditional Life Insurance Products' ?

'Traditional' Life Insurance products are the plain vanilla variety of insurance products where the premium paid over the term of the policy is calculated based on the certain factors.

The factors that help in calculating the cost of covering the risk of loss of life of an individual are, age, gender, occupation, etc.

The 'Premium' paid is a sum of the mortality charges plus administrative cost of administering an insurance policy for an individual.

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