人寿险赔贷款选择.PPT

Lecture Thirteen： Life Insurance Contractual Provisions, and buying Life Insurance Learning Objective Explain the incontestable clause, suicide clause, and grace period provision Identify the dividend options that are found in participating policies Explain the non-forfeiture options that are found in cash-value policies Describe the various settlement options for the payment of life insurance proceeds describe the rules to follow when purchasing life insurance Main Contents Life insurance contractual provisions Dividend options Nonforfeiture options Settlement options Additional life insurance Determining the cost of life insurance Rate of return on saving component Shopping for life insurance Case Scott, age 36, and Michelle, age 34, are married and have two small children. Michelle is the owner and beneficiary of a $500,000 life insurance policy on Scott’s life. Three years after the policy was purchased, Scott committed suicide because of chronic depression and the bankruptcy of his business. Because Scott deliberately caused his own death, Michelle was concerned that the insurer might deny payment of the claim. Michelles life insurance agent, however, assured her that the claim would be paid in full. Questions Do you think Michelle could receive Scott’s life insurance payment In the preceding case, Michelle’s financial security was affected by a contractual provision in a life insurance policy dealing with suicide. Life Insurance Contractual Provision Life insurance contracts contain dozens of contractual provisions that affect the insured and beneficiary and payment of the death proceeds. Some contractual provisions are mandatory and must be included in every life insurance policy. Other provisions are optional. Life insurance contractual provisions Life insurance policy contain numerous contractual provisions as follows: Ownership Clause Entire-contract Clause Incontestable Clause Suicide Clause Grace Period