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Life Insurance
Life insurance (or commonly life assurance, especially in the Commonwealth) is a contract between an insured (insurance policy holder) and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the “benefits”) in exchange for a premium, upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be included in the benefits.
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.
Life-based contracts tend to fall into two major categories:
- Protection policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of a protection policy design is term insurance.
- Investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the U.S.) are whole life, universal life, and variable life policies.
Our MGT USA sponsors also offer the life insurance policies and tools you need to help provide for the ones you love – now and in the years to come. If you want to learn more about life insurance, please feel free to contact our sponsors or utilize the tools on their website via our MGT USA local portal. Their Life Planning tools and information will help you get up to speed on everything from the basics to advanced planning options.
Butler
Butler is a city and the county seat of Butler County in the U.S. state of Pennsylvania.[2] It is located 35 miles (56 km) north of Pittsburgh and part of the Pittsburgh metropolitan area. As of the 2010 census, the city population was 13,757.[3] Butler was named the 7th best small town in America by Smithsonian magazine in May 2012.[4]
Butler was named for Maj. Gen. Richard Butler,[5] who fell at the Battle of the Wabash, also known as St. Clair’s Defeat, in western Ohio in 1791.
In 1803 John and Samuel Cunningham became the first settlers in the village of Butler. After settling in Butler, the two brothers laid out the community by drawing up plots of land for more incoming settlers.[5] By 1817, the community was incorporated into a borough.[5]The first settlers were of Irish or Scottish descent and were driving westward from Connecticut. In 1802 the German immigrants began arriving, with Detmar Basse settling in Jackson Township in 1802 and founding Zelienople the following year. After George Rapp arrived in 1805 and founded Harmony, larger numbers of settlers followed. John A. Roebling settled Saxonburg in 1832, by which time most of the county was filled with German settlers.