We all know that life insurance is one of the most important things that we need to pay attention to. This is because it helps us in many ways when we die. If you are thinking about purchasing life insurance policy then you should know the face amount of a life insurance policy.
The face amount of a life insurance policy is the amount that you have to pay when you die. The face amount is calculated based on the amount that you have paid and the amount that you have insured.
Face Amount:
The face amount of a life insurance policy is the amount that you have to pay when you die. It is also known as the death benefit. It is also known as the cash value.
Life insurance policy is considered as a debt which you are taking to protect yourself from any loss. The life insurance policy is like an investment for your family as it gives them a source of income when you die.
When you purchase a life insurance policy, it becomes a legal obligation on your part. You have to pay premiums for a certain time and the amount of premium is based on the face amount of the life insurance policy.
Premiums:
When you purchase a life insurance policy, it becomes a legal obligation on your part. You have to pay premiums for a certain time and the amount of premium is based on the face amount of the life insurance policy.
The amount of premium that you pay is also known as the annual premium. The amount of premium depends on the age at which you purchase the life insurance policy and the amount of premium is calculated based on the face amount.
Face Amount:
Face amount is calculated based on the amount of premium and the face amount is equal to the amount that you have paid. So, if you have purchased a life insurance policy for Rs. 5,000 and the face amount is Rs. 2,000, then it means that you have to pay Rs. 3,000 every year.
Premiums:
When you purchase a life insurance policy, it becomes a legal obligation on your part. You have to pay premiums for a certain time and the amount of premium is based on the face amount of the life insurance policy.
The amount of premium that you pay is also known as the annual premium. The amount of premium depends on the age at which you purchase the life insurance policy and the amount of premium is calculated based on the face amount.
Face Amount:
Face amount is calculated based on the amount of premium and the face amount is equal to the amount that you have paid. So, if you have purchased a life insurance policy for Rs. 5,000 and the face amount is Rs. 2,000, then it means that you have to pay Rs. 3,000 every year.
Premiums:
When you purchase a life insurance policy, it becomes a legal obligation on your part. You have to pay premiums for a certain time and the amount of premium is based on the face amount of the life insurance policy.
The amount of premium that you pay is also known as the annual premium. The amount of premium depends on the age at which you purchase the life insurance policy and the amount of premium is calculated based on the face amount.
Face Amount:
Face amount is calculated based on the amount of premium and the face amount is equal to the amount that you have paid. So, if you have purchased a life insurance policy for Rs. 5,000 and the face amount is Rs. 2,000, then it means that you have to pay Rs. 3,000 every year.
Premiums:
When you purchase a life insurance policy, it becomes a legal obligation on your part. You have to pay premiums for a certain time and the amount of premium is based on the face amount of the life insurance policy.
The amount of premium that you pay is also known as the annual premium. The amount of premium depends on the age at which you purchase the life insurance policy and the amount of premium is calculated based on the face amount.
Face Amount:
Face amount is calculated based on the amount of premium and the face amount is equal to the amount that you have paid. So, if you have purchased a life insurance policy for Rs. 5,