Life-insurance人寿保险大学毕业论文外文文献翻译及原文

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　　文献、资料英文题目：Life insurance

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　　翻译日期： 2017.02.14

　　Life insurance

　　From Kenneth Blake

　　Types of life insurance may be divided into two basic classes – temporary and permanent or following subclasses – term, universal, whole life and endowment life insurance.

　　Term Insurance Term assurance provides life insurance coverage for a specified term of years in exchange for a specified premium. The policy does not accumulate cash value. Term is generally considered pure insurance, where the premium buys protection in the event of death and nothing else.

　　There are three key factors to be considered in term insurance:

　　Face amount (protection or death benefit),

　　Premium to be paid (cost to the insured), and

　　Length of coverage (term).

　　Various insurance companies sell term insurance with many different combinations of these three parameters. The face amount can remain constant or decline. The term can be for one or more years. The premium can remain level or increase. Common types of term insurance include Level, Annual Renewable and Mortgage insurance.

　　Level Term policy has the premium fixed for a period of time longer than a year. These terms are commonly 5, 10, 15, 20, 25, 30 and even 35 years. Level term is often used for long term planning and asset management because premiums remain consistent year to year and can be budgeted long term. At the end of the term, some policies contain a renewal or conversion option. Guaranteed Renewal, the insurance company guarantees it will issue a policy of equal or lesser amount without regard to the insurability of the insured and with a premium set for the insured's age at that time. Some companies however do not guarantee renewal, and require proof of insurability to mitigate their risk and decline renewing higher risk clients (for instance those that may be terminal). Renewal that requires proof of insurability often includes a conversion options that allows the insured to convert the term program to a permanent one that the insurance company makes available. This can force clients into a more expensive permanent program because of anti selection if they need to continue coverage. Renewal and conversion options can be very

　　important when selecting a program.

　　Annual renewable term is a one year policy but the insurance company guarantees it will issue a policy of equal or lesser amount without regard to the insurability of the insured and with a premium set for the insured's age at that time.

　　Another common type of term insurance is mortgage insurance, which is usually a level premium, declining face value policy. The face amount is intended to equal the amount of the mortgage on the policy owner’s residence so the mortgage will be paid if the insured dies.

　　A policy holder insures his life for a specified term. If he dies before that specified term is up (with the exception of suicide see below), his estate or named beneficiary receives a payout. If he does not die before the term is up, he receives nothing. However, in some European countries (notably Serbia), insurance policy is such that the policy holder receives the amount he has insured himself to, or the amount he has paid to the insurance company in the past years. Suicide used to be excluded from ALL insurance policies[when?], however, after a number of court judgments against the industry, payouts do occur on death by suicide (presumably except for in the unlikely case that it can be shown that the suicide was just to benefit from the policy). Generally, if an insured person commits suicide within the first two policy years, the insurer will return the premiums paid. However, a death benefit will usually be paid if the suicide occurs after the two year period.

　　Permanent Life InsurancePermanent life insurance is life insurance that remains in force (in-line) until the policy matures (pays out), unless the owner fails to pay the premium when due (the policy expires OR policies lapse). The policy cannot be canceled by the insurer for any reason except fraud in the application, and that cancellation must occur within a period of time defined by law (usually two years). Permanent insurance builds a cash value that reduces the amount at risk to the insurance company and thus the insurance expense over time. This means that a policy with a million dollar face value can be relatively expensive to a 70 year old. The owner can access the money in the cash value by withdrawing money, borrowing the cash value, or surrendering the policy and receiving the surrender value.

　　The four basic types of permanent insurance are whole life, universal life, limited pay

　　and endowment.

　　Whole life coverage whole life insurance provides for a level premium, and a cash value table included in the policy guaranteed by the company. The primary advantages of whole life are guaranteed death benefits, guaranteed cash values, fixed and known annual premiums, and mortality and expense charges will not reduce the cash value shown in the policy. The primary disadvantages of whole life are premium inflexibility, and the internal rate of return in the policy may not be competitive with other savings alternatives. Also, the cash values are generally kept by the insurance company at the time of death, the death benefit only to the beneficiaries. Riders are available that can allow one to increase the death benefit by paying additional premium. The death benefit can also be increased through the use of policy dividends. Dividends cannot be guaranteed and may be higher or lower than historical rates over time. Premiums are much higher than term insurance in the short term, but cumulative premiums are roughly equal if policies are kept in force until average life expectancy.

　　Cash value can be accessed at any time through policy loans and are received income-tax free. Since these loans decrease the death benefit if not paid back, payback is optional. Cash values support the death benefit so only the death benefit is paid out.

　　Dividends can be utilized in many ways. First, if Paid up additions is elected, dividend cash values will purchase additional death benefit which will increase the death benefit of the policy to the named beneficiary. Another alternative is to opt in for 'reduced premiums' on some policies. This reduces the owed premiums by the unguaranteed dividends amount. A third option allows the owner to take the dividends as they are paid out. (Although some policies provide other/different/less options than these - it depends on the company for some cases)

　　Universal life coverage universal life insurance (UL) is a relatively new insurance product intended to provide permanent insurance coverage with greater flexibility in premium payment and the potential for greater growth of cash values. There are several types of universal life insurance policies which include interest sensitive (also known as traditional fixed universal life insurance), variable universal life (VUL), guaranteed death benefit, and equity indexed universal life insurance.

　　A universal life insurance policy includes a cash value. Premiums increase the cash

　　values, but the cost of insurance (along with any other charges assessed by the insurance company) reduces cash values. However, with the exception of VUL, interest is credited on cash values at a rate specified by the company and may also increase cash values. With VUL, cash values will ebb and flow relative to the performance of the investment subaccounts the policy owner has chosen. The surrender value of the policy is the amount payable to the policyowner after applicable surrender charges, if any.

　　Universal life insurance addresses the perceived disadvantages of whole life – namely that premiums and death benefit are fixed. With universal life, both the premiums and death benefit are flexible. Except with regards to guaranteed death benefit universal life, this flexibility comes at a price: reduced guarantees.

　　Depending on how interest is credited, the internal rate of return can be higher because it moves with prevailing interest rates (interest-sensitive) or the financial markets (Equity Indexed Universal Life and Variable Universal Life). Mortality costs and administrative charges are known. And cash value may be considered more easily attainable because the owner can discontinue premiums if the cash value allows it.

　　Flexible death benefit means the policy owner can choose to decrease the death benefit. The death benefit could also be increased by the policy owner but that would (typically) require that the insured go through new underwriting. Another example of flexible death benefit is the ability to choose option A or option B death benefits - and to be able to change those options during the life of the insured.

　　Option A is often referred to as a level death benefit. Generally speaking, the death benefit will remain level for the life of the insured and premiums are expected to be lower than policies with an Option B death benefit.

　　Option B pays the face amount plus the cash value. If cash values grow over time, so would the death benefit which is payable to the insured's beneficiaries. If cash values decline, the death benefit would also decline. Presumably option B death benefit policies require greater premium than option a policies.

　　人寿保险

　　人寿保险的险种可分为两个基本类别，即定期保险和永久性终身保险。又可以分为以下的子类，长期定期保险，万能险，终身寿险及两全保险。

　　定期寿险是约定的时间内交付保险费，并由保险公司在此期间对被保险人的保障的保险。随着时间的推移，这一保险的现金价值逐渐的减少。长期以来，定期保险被认为是最为简单的寿险，因为它主要承担的是对被保险人的生命的保险责任，并不负其它的责任。

　　有三个将在定期保险中考虑的关键因素：

　　保险金额（以死亡为给付的金额）；

　　保险费用（投保人交付的保险费）；

　　保险期间（承担保险责任的时间段）。

　　各保险公司将这三个不同的因素结合销售，即为定期保险。保险金额随着时间的推移可以于一年或一年以上保持不变或下降。保险费用可以保持水平或增加。定期寿险的保险费可以趸交或期交。

　　期交保费通常为一年及一年以上。这些年限是5，10，15，20，25，30，甚至35年。定期保险通常可用于长远规划和资产管理，因为保费每年保持一致，并且可以长期预算。保险到期时，可以续保或是结束保险合同。如果选择续保，保险公司再之后不考虑被保险人可保性，并提出与被保险人当时的年龄设定保费的金额等于或较小的优惠政策。但有些公司并不续保，并要求结束合同，因为他们不想承担更大的风险。续保可以使被保险人享受由保险公司提供的终身保险。续保可以使保护有更多的选择，同时，也可以使保险公司利用这个机会增加收入。续保是对于保险公司而言非常重要的选择方案。

　　续期保费是一项保险公司可以不考虑被保险人与被保险人当时的年龄设定保费的金额等于或较小的政策。

　　另一种常见的类型是定期期交保险，通常保费与保险金额并不相同。保险金额可以使保单持有人按照其进行房屋支付抵押贷款，并且对被保险人进行死亡给付。 指保单持有人可确保被保险人在指定的是否是生存状态。如果被保险未生存至规定的保险期间（自杀除外），由被保险人的继承人或是受益人领取保险公司的赔偿。如果被保险人生存至保险起见，则由被保险人或是受益人领取保险公司的给付。但是，