LIFE INSURANCE
Life coverage (Life Insurance) is one of the best insurances that includes the cost of the funeral of the individual and the total cost of living for the people you leave behind. This kind of insurance is very important for those individuals who have family members that are dependent on him or her.
When calculating the amount of life insurance one needs, don't calculate the funeral expenses to the main insurance as daily living expenses is optimal while signing a life insurance program. These may include mortgage payment, outstanding loans, credit card debit, child care, and future and unknown college costs.
There are two basic form of life insurance,
The Term life insurance and the
Traditional whole life insurance
Traditional Whole
A traditional whole life insurance is a life insurance program that provides insurance coverage of the contract holder for their entire life.
Term Life Insurance
Term life insurance is a form of insurance coverage that guarantees payment of a stated death benefits if the covered person dies during a specific term, and once the term expires the policy holder either renew it for another term or convert it to a permanent coverage.
Because it offers a benefit for a restricted time and only provides death benefits term life is usually the least costly life insurance program.
Comments
Post a Comment