Can anyone tell me more about perpetual insurance?
by Guest » Wed Jun 27, 2007 04:23 am
Can anyone tell me more about perpetual insurance?How does it benefit the user in tax savings?
Total Comments: 7
Posted: Wed Jun 27, 2007 06:53 am Post Subject:
Perpetual insurance is a type of homeowners insurance, where you pay the premium for once and the coverage continues through the life of the risk. The initial premium amount is quite high for the Perpetual insurance. Normally it is ten times higher than a Term insurance with same amount of coverage.
Perpetual insurance usually offers some tax advantages for you. You would receive a return equivalent to your monthly gross income divided by the premium paid towards your policy.
Posted: Wed Jun 27, 2007 08:05 am Post Subject: Perpetual is good for your home!
My friend,
This is something good for the buildings that you might own. It is all about your agreement with the insurer (agreement covering the building enlisted by you) which has no foreseen expiry.
It might just protect your building from fire and supplement your homeowners policy. Since it carries on through the life of an asset (which might just be many times your own), hence the successive owners to the property would likely be the beneficiaries to the policy.
Yes, it seems fair since the owners ought to approve it for any additional benefits or for modifying the limits of the benefits already mentioned in the said policy. But, yes its true that the insurer would earn quite a handsome figure on the whole.
Hope you would empathize the same way!
ArindamSenIndies
Posted: Wed Jun 27, 2007 08:14 am Post Subject:
Hi!
Perpetual insurance is an old form of insurance. There is no fixed term for this policy and as the name suggests the coverage continues throughout the life of the risk. But yeah! The insurer should earn enough from this investment to cover the losses and other operational costs.
Upon cancellation of the policy you will receive back the full premium amount but usually without any interest.
Regards,
Fatman
Posted: Wed Jun 27, 2007 08:57 am Post Subject:
Hi there!
It is a type of home insurance policy which has no term, when the policy will expire.
A policy holder makes a single deposit with the company known as deposit premium. This deposit is decided by the company and the coverage required. In return, the person gets an insurance protection without paying any annual premium.
Hope this information works for you.
Bye,
Posted: Wed Jun 27, 2007 09:34 am Post Subject:
Dear friend,
I agree with the guys above that perpetual insurance is a contribution towards insuring building. The insurer agrees to cover it for a one-time premium without any policy lapse. It may contain some endorsements and rider policies.
Posted: Wed Jun 27, 2007 10:23 am Post Subject:
A home insurance policy in which you have to pay a single premium. There is no expiry date or term for the policy.
Posted: Thu Jun 28, 2007 11:46 pm Post Subject:
thnx for your replies..
tht made sense..
Bt can someone explain me how do we benefit from paying one time huge premium amount than paying the premiums periodically for term insurance?
Posted: Wed Jun 27, 2007 06:53 am Post Subject:
Perpetual insurance is a type of homeowners insurance, where you pay the premium for once and the coverage continues through the life of the risk. The initial premium amount is quite high for the Perpetual insurance. Normally it is ten times higher than a Term insurance with same amount of coverage.
Perpetual insurance usually offers some tax advantages for you. You would receive a return equivalent to your monthly gross income divided by the premium paid towards your policy.
Posted: Wed Jun 27, 2007 08:05 am Post Subject: Perpetual is good for your home!
My friend,
This is something good for the buildings that you might own. It is all about your agreement with the insurer (agreement covering the building enlisted by you) which has no foreseen expiry.
It might just protect your building from fire and supplement your homeowners policy. Since it carries on through the life of an asset (which might just be many times your own), hence the successive owners to the property would likely be the beneficiaries to the policy.
Yes, it seems fair since the owners ought to approve it for any additional benefits or for modifying the limits of the benefits already mentioned in the said policy. But, yes its true that the insurer would earn quite a handsome figure on the whole.
Hope you would empathize the same way!
ArindamSenIndies
Posted: Wed Jun 27, 2007 08:14 am Post Subject:
Hi!
Perpetual insurance is an old form of insurance. There is no fixed term for this policy and as the name suggests the coverage continues throughout the life of the risk. But yeah! The insurer should earn enough from this investment to cover the losses and other operational costs.
Upon cancellation of the policy you will receive back the full premium amount but usually without any interest.
Regards,
Fatman
Posted: Wed Jun 27, 2007 08:57 am Post Subject:
Hi there!
It is a type of home insurance policy which has no term, when the policy will expire.
A policy holder makes a single deposit with the company known as deposit premium. This deposit is decided by the company and the coverage required. In return, the person gets an insurance protection without paying any annual premium.
Hope this information works for you.
Bye,
Posted: Wed Jun 27, 2007 09:34 am Post Subject:
Dear friend,
I agree with the guys above that perpetual insurance is a contribution towards insuring building. The insurer agrees to cover it for a one-time premium without any policy lapse. It may contain some endorsements and rider policies.
Posted: Wed Jun 27, 2007 10:23 am Post Subject:
A home insurance policy in which you have to pay a single premium. There is no expiry date or term for the policy.
Posted: Thu Jun 28, 2007 11:46 pm Post Subject:
thnx for your replies..
tht made sense..
Bt can someone explain me how do we benefit from paying one time huge premium amount than paying the premiums periodically for term insurance?
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