Life Insurance

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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.

Spokane

Spokane (ⁱ/spoʊˈkæn/ spoh-kan)^[7] is a city in the state of Washington, in the northwestern United States. It is the seat of Spokane County, and the economic and cultural center of the Spokane Metropolitan Area, the Greater Spokane Area, and the Inland Northwest. It is located along the Spokane River west of the Rocky Mountain foothills in eastern Washington, 92 miles (148 km) south of the Canada–US border, approximately 20 miles (30 km) from the Washington–Idaho border, and 280 miles (450 km) east of Seattle along Interstate 90. The city, along with the whole Inland Northwest, is served by Spokane International Airport, 5 miles (8 km) west of downtown Spokane. According to the 2010 Census, Spokane had a population of 208,916, making it the second largest city in Washington and the 102nd largest city in the United States.

The first humans to live in the area, the Spokane people (their name meaning “children of the sun” in Salishan), arrived between 13,000 and 8,000 years ago, living off plentiful game. Known as the birthplace of Father’s Day, Spokane is officially nicknamed the “Lilac City”. David Thompson explored the area with the westward expansion and establishment of the North West Company‘s Spokane House in 1810. This trading post was the first long-term European settlement in Washington. Completion of the Northern Pacific Railway in 1881 brought settlers to the Spokane area, and that same year it was officially incorporated as a city with the name of “Spokan Falls”. In the late 19th century, gold and silver were discovered in the Inland Northwest. The local economy depended on mining, timber, and agriculture until the 1980s. Spokane hosted the first environmentally themed World’s Fair at Expo ’74.