My favourite Life Insurance policies

Jul 27th, 2016
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My favourite Life Insurance policies - Comparison of term life insurance ...

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My favourite Life Insurance policies1. Term life insurance or term assurance is life insurance that provides coverage at afixed rate of payments for a limited period of time, the relevant term. After that period expires,coverage at the previous rate of premiums is no longer guaranteed and the client must either forgocoverage or potentially obtain further coverage with different payments or conditions. If the lifeinsured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is theleast expensive way to purchase a substantial death benefit on a coverage amount per premiumdollar basis over a specific period of time.Term life insurance can be contrasted to permanent life insurance such as whole life, universal life,and variable universal life, which guarantee coverage at fixed premiums for the lifetime of thecovered individual unless the policy owner allows the policy to lapse. Term insurance is not generallyused for estate planning needs or charitable giving strategies but is used for pure incomereplacement needs for an individual. Term insurance functions in a manner similar to most othertypes of insurance in that it satisfies claims ag

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