The word ‘insurance’ is derived from the Latin word ‘insura’, which means ‘to cover’. The word ‘insurance’ was first used in the 16th century, but its history can be traced back to ancient times. In ancient Egypt, there were people who used to insure themselves against loss of property by building tombs. This was the first form of insurance. In ancient Greece, people used to insure their lives by setting up burial societies. This was the second form of insurance.
Insurance was very popular in the United States of America. It was introduced by Benjamin Franklin in 1752. He set up an insurance company in Philadelphia called ‘The American Fire Insurance Company’. It was the first fire insurance company in the United States. Insurance became so popular that many states had to make it compulsory for all people to have some form of insurance.
Today, there are many types of insurance available. These include health insurance, automobile insurance, travel insurance, life insurance, home insurance, pet insurance, etc.
There are many types of life insurance available. They include term life insurance, whole life insurance, universal life insurance, variable life insurance, variable universal life insurance, etc.
Term life insurance is the cheapest type of life insurance. Whole life insurance is the most expensive type of life insurance. Term life insurance is good if you want to pay your bills regularly and have a small sum of money left over. Whole life insurance is good if you need a large amount of money at one time.
A good way to invest your money is to invest in a term life insurance policy. You can buy this policy from any insurance company. You will have to pay a premium every year for this policy. You will not have to pay anything if you die before the policy matures. If you do not die within the stipulated period, the insurance company will pay you the face value of the policy. However, the premium you paid for the policy will be deducted from the amount you receive.
If you invest in a whole life insurance policy, you will have to pay a lump sum amount at one time. You will not have to make any further payments after that. You will get a death benefit and an accumulation benefit. The death benefit is the amount of money you will receive if you die before the policy expires. The accumulation benefit is the amount of money that you will receive if you survive until the policy matures. You may choose to receive either the death benefit or the accumulation benefit.
A good way of investing your money is to invest in variable life insurance policies. These policies give you the option of choosing how much you want to pay as premium each year. You can also choose how much you want to receive as the death benefit or the accumulation benefits.
Variable life insurance is good for people who want to save money. They can buy this policy from any insurer. The premiums you pay will depend on how old you are when you buy the policy. If you are young, you can pay less premium. As you grow older, you will have to pay more.
If you invest your money in variable life insurance policies, you will have to pay less each year than if you invest in a whole life policy. However, you will have to pay the same amount if you die before the policy has expired.