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Thursday, February 2, 2012

Our Life Insurance Glossary Helps Clear up Confusion

A life insurance glossary can help you gain a better understanding of the subject.  I will be the first to admit that life insurance is not a sexy subject.  I don’t dare bring it up at parties, as the few times I did mention it at social functions, it was as if I told people I had the plague.  Look, I enjoy what I do for a living because I know I am helping people, but I know it’s not a subject many people enjoy discussing.
Part of the problem, I found, is in the terminology.  Insurance has a language not spoken by most folks and contains many specialized words that might as well be Martian to them.  In my experience, any subject can be learned by most people, but in order to do so, the specialized words of the subject need to be learned.  That is why we put together the Life Insurance Glossary on LifeInsure.com.  We know that an educated consumer makes the best decisions and purchasing life insurance is not a decision that should be made lightly.
I’m not suggesting that you become a life insurance expert..  However, I am suggesting that you learn enough of the language to understand the intricacies of a life insurance policy.  Our life insurance glossary is alphabet-tabbed to make searching for a word a simple process.  Find and clear most of the insurance terms on this website and you will be armed with ammunition to speak to a life insurance agent.
However, I must offer this disclaimer:  I am not responsible for the response you get at parties when you start showing off your knowledge about life insurance.  Don’t say I didn’t warn you.
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Expenditures of insurers on agent's commission amounted to 11.5% of total premiums in 2011

In 2011, 7,704 insurance agents have been working on the insurance market of Uzbekistan. Of these, 6,078 or 78.9% were individuals, and 1626 (21.1%) were legal entities. Of all insurance agents 41.1% worked in rural areas of the country.

According to experts of IRA SAIPRO, insurance agents on the market provide almost all the proceeds of insurance premiums for the massive insurance. As is known, the payment of labor or services of an insurance agent is carried out in the form of commission by agreement with the insurance company from the proceeds of insurance premiums provided by an insurance agent. However, according to law the amount of agent's fee shall not exceed 25.0% of the amount of insurance premiums received.

In 2011 expenses of insurance companies for payment of agency fees amounted to 11.9% of total revenues. In the previous year this figure was 10.6%.