人寿保险外文文献翻译中英文Word下载.docx

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英文原文及中文译文）

文献出处：

AKurtz.TheResearchofLifeinsurance[J].PersonnelPsychology,2013,3（4）:

25-31.

英文原文

TheResearchofLifeinsurance

Author:

AKurtz 

Typesoflifeinsurancemaybedividedintotwobasicclasses–temporaryandpermanentorfollowingsubclasses–term,universal,wholelifeandendowmentlifeinsurance.

TermInsuranceTermassuranceprovideslifeinsurancecoverageforaspecifiedtermofyearsinexchangeforaspecifiedpremium.Thepolicydoesnotaccumulatecashvalue.Termisgenerallyconsidered"

pure"

insurance,wherethepremiumbuysprotectionintheeventofdeathandnothingelse.

Therearethreekeyfactorstobeconsideredinterminsurance:

Faceamount（protectionordeathbenefit）,

Premiumtobepaid（costtotheinsured）,and

Lengthofcoverage（term）.

Variousinsurancecompaniessellterminsurancewithmanydifferentcombinationsofthesethreeparameters.Thefaceamountcanremainconstantordecline.Thetermcanbeforoneormoreyears.Thepremiumcanremainlevelorincrease.CommontypesofterminsuranceincludeLevel,AnnualRenewableandMortgageinsurance."

LevelTermpolicyhasthepremiumfixedforaperiodoftimelongerthanayear.Thesetermsarecommonly5,10,15,20,25,30andeven35years.Leveltermisoftenusedforlongtermplanningandassetmanagementbecausepremiumsremainconsistentyeartoyearandcanbebudgetedlongterm.Attheendoftheterm,somepoliciescontainarenewalorconversionoption.GuaranteedRenewal,theinsurancecompanyguaranteesitwillissueapolicyofequalorlesseramountwithoutregardtotheinsurabilityoftheinsuredandwithapremiumsetfortheinsured'

sageatthattime.Somecompanieshoweverdonotguaranteerenewal,andrequireproofofinsurabilitytomitigatetheirriskanddeclinerenewinghigherriskclients（forinstancethosethatmaybeterminal）.Renewalthatrequiresproofofinsurabilityoftenincludesaconversionoptionsthatallowstheinsuredtoconvertthetermprogramtoapermanentonethattheinsurancecompanymakesavailable.Thiscanforceclientsintoamoreexpensivepermanentprogrambecauseofantiselectioniftheyneedtocontinuecoverage.Renewalandconversionoptionscanbeveryimportantwhenselectingaprogram.

Annualrenewabletermisaoneyearpolicybuttheinsurancecompanyguaranteesitwillissueapolicyofequalorlesseramountwithoutregardtotheinsurabilityoftheinsuredandwithapremiumsetfortheinsured'

sageatthattime.

Anothercommontypeofterminsuranceismortgageinsurance,whichisusuallyalevelpremium,decliningfacevaluepolicy.Thefaceamountisintendedtoequaltheamountofthemortgageonthepolicyowner’sresidencesothemortgagewillbepaidiftheinsureddies.

Apolicyholderinsureshislifeforaspecifiedterm.Ifhediesbeforethatspecifiedtermisup（withtheexceptionofsuicideseebelow）,hisestateornamedbeneficiaryreceivesapayout.Ifhedoesnotdiebeforethetermisup,hereceivesnothing.However,insomeEuropeancountries（notablySerbia）,insurancepolicyissuchthatthepolicyholderreceivestheamounthehasinsuredhimselfto,ortheamounthehaspaidtotheinsurancecompanyinthepastyears.SuicideusedtobeexcludedfromALLinsurancepolicies[when?

],however,afteranumberofcourtjudgmentsagainsttheindustry,payoutsdooccurondeathbysuicide（presumablyexceptforintheunlikelycasethatitcanbeshownthatthesuicidewasjusttobenefitfromthepolicy）.Generally,ifaninsuredpersoncommitssuicidewithinthefirsttwopolicyyears,theinsurerwillreturnthepremiumspaid.However,adeathbenefitwillusuallybepaidifthesuicideoccursafterthetwoyearperiod.

PermanentLifeInsurance

Permanentlifeinsuranceislifeinsurancethatremainsinforce（in-line）untilthepolicymatures（paysout）,unlesstheownerfailstopaythepremiumwhendue（thepolicyexpiresORpolicieslapse）.Thepolicycannotbecanceledbytheinsurerforanyreasonexceptfraudintheapplication,andthatcancellationmustoccurwithinaperiodoftimedefinedbylaw（usuallytwoyears）.Permanentinsurancebuildsacashvaluethatreducestheamountatrisktotheinsurancecompanyandthustheinsuranceexpenseovertime.Thismeansthatapolicywithamilliondollarfacevaluecanberelativelyexpensivetoa70yearold.Theownercanaccessthemoneyinthecashvaluebywithdrawingmoney,borrowingthecashvalue,orsurrenderingthepolicyandreceivingthesurrendervalue.

Thefourbasictypesofpermanentinsurancearewholelife,universallife,limitedpayandendowment.

Wholelifecoveragewholelifeinsuranceprovidesforalevelpremium,andacashvaluetableincludedinthepolicyguaranteedbythecompany.Theprimaryadvantagesofwholelifeareguaranteeddeathbenefits,guaranteedcashvalues,fixedan