Why Insurance Companies, and You, Will Benefit From Persistency

Why Insurance Companies, and You, Will Benefit From Persistency

Persistency is a way of measuring of how long a life insurance company’s policies are staying in-force/active, which is used to measure their success. Unfortunately, many policy owners fail to keep their policies in-force long enough to realize the intended benefits, meaning the policy has been terminated/lapsed. Poor persistency is perpetual problem for the life insurance industry.

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What Happens If I Don’t Pay My Life Insurance Premium?

What Happens If I Don’t Pay My Life Insurance Premium?

Economic difficulties can mean that people have a harder time keeping up with their life insurance premium – especially when factoring in other crucial financial needs like paying the mortgage and staying on top of monthly credit card bills. An “insurance premium” is a sum of money an individual or business pays for an insurance policy. The insurance premium, considered income by the insurance company once it’s earned, represents a liability in that an insurer is…

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