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Guaranteed vs. Non-Guaranteed Permanent Life Insurance Policies
Fifty years ago, most life insurance policies sold were guaranteed and offered by mutual fund companies. Choices were limited to term, endowment or whole life policies. It was simple, you paid a high, set premium and the insurance company guaranteed the death benefit. All of that changed in the 1980s. Interest rates soared, and policy owners surrendered their coverage to invest the cash value in higher interest paying non-insurance products. To compete, insurers began offering interest-sensitive non-guaranteed policies.
Guaranteed versus Non-Guaranteed Policies
Today, companies offer a broad range of guaranteed and non-guaranteed life insurance policies. A guaranteed policy is one in which the insurer assumes all the risk and contractually guarantees the death benefit in exchange for a set premium payment. If investments underperform or expenses go up, the insurer has to absorb the loss. With a non-guaranteed policy the owner, in exchange for a lower premium and possibly better return, is assuming much of the investment risk as well as giving the insurer the right to increase policy fees. If things don’t work out as planned, the policy owner has to absorb the cost and pay a higher premium.
Term Policies
Term life insurance is guaranteed. The premium is set at issue and clearly stated right in the policy. An annual renewable term policy has a premium that goes up every year. A level term policy has an initially higher premium that does not change for a set period, usually 10, 20 or 30 years, and then becomes annual renewable term with a premium based on your attained age.
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The Aristotle University of Thessaloniki (A.U.Th.; often called the
Aristotelian University or University of Thessaloniki; Greek:
Αριστοτέλειο Πανεπιστήμιο Θεσσαλονίκης) is the sixth oldest and among
the most highly ranked tertiary education institutions in Greece. It is
named after the philosopher Aristotle, who was born in Stageira, about
55 km east of Thessaloniki.
It is the largest university in Greece and in the Balkans.[2] Its campus
covers 230,000 square metres in the centre of Thessaloniki, with
additional educational and administrative facilities elsewhere.
As of 2014, there is a student population of approximately 40,000 active
students enrolled at the university (31,000 at the undergraduate level
and 9,000 in postgraduate programmes of which 3,952 at Doctoral level)
and 2,366 faculty members. [3] There are additionally 248 members of the
Special Laboratory Teaching Personnel, 213 members of the Special
Technical Laboratory Personnel. The administrative staff consists of 400
permanent employees and 528 subcontractor employees that are contracted
by the university. [4]
The language of instruction is Greek, although there are programs in
foreign languages and courses for international students, which are
carried out in English, French, German, and Italian.
The Aristotle University of Thessaloniki was founded in 1925 during the
premiership of Alexandros Papanastassiou and was legislated under Law
3341/14-6-25. It was the second Greek university to be founded after the
University of Athens, which was established in 1837. The university was
built on top of the remains of what had once been the Jewish cemetery
in Thessaloniki, until the cemetery's tragic destruction during the Nazi
occupation.
According to Eleftherios Venizelos' plans following the end of the World
War I, Smyrni was intended to be the seat of the second Greek
university, while the third university was to be established in
Thessaloniki. However, Smyrni was not part of Greece at the time and the
plans fell through after the outcome of the Greco-Turkish War in Asia
Minor. Nevertheless, in 1924, Alexandros Papanastassiou decided to found
a university in Thessaloniki in order to boost the local economy and
culture.[5]
The chronological development of the university, which was renamed the
Aristotle University of Thessaloniki in 1954, can be divided into three
stages, each covering a period of approximately 25 years.
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