Term Life Insurance provides protection for a specific period!
Term Life Insurance as the name implies is of a temporary nature. It is like leasing or renting. As long as the rent is paid and until the lease is over you have the legal right to use the property, similarly... Term Life Insurance provides coverage for a specific period of time or term as long as you pay the premium. If the insured person dies while the term insurance is in effect, the insurance company pays the beneficiary the insured amount. However, once the term is over and if the policy is not renewed, the coverage ceases. If death occurs after the coverage is over, the beneficiary will not get any benefit. You could get Term life Insurance for 5, 10, 20 or 100 years. The most common Term Life Insurance today is level term (level means the death benefit and the premium stays the same) and until the term life insurance is renewed the death benefit and premium remains the same. Convertible Term Life Insurance Policy could be converted to a Permanent Life Insurance plan within the age limit specified in the policy if the policy is active. Renewable term insurance could be renewed up to and until the age limit specified in the policy, provided the policy is active.
Term life is cheaper!
It is cheaper because the insurance company only charges the cost of insurance for this kind of temporary insurance. The cost of insurance for term insurance is determined at the time of purchase based on age, smoking status and other risk factors, and the monthly or annual premium determined remains level for the period or term the client chooses, and at renewal the premium increases to the pre-determined amount as indicated in the original policy. The contract between the policy holder and the insurance company ensures the policy is renewed as originally agreed irrespective of the current health conditions of the insured as long as the policy remains active. http://www.insuranceprotection.biz/products/term_life_insurance.html
Term life insurance is a low cost financial solution!
Term Life is cheaper compared to permanent life policies, and this is an ideal low cost financial solution for short term needs such as outstanding Mortgages, debts, children’s education and other expenses etc. It also could be used for key person & buy-sell agreement in partnership business. http://www.inspro.ca/
INSPRO, insurance, Insurance Protection, life insurance, Protection, term life insurance, ULI, Universal Life Insurance, whole life insurance
Wednesday, October 22, 2008
Tuesday, October 21, 2008
WHY YOU NEED LIFE INSURANCE?
To protect your family!
We all love our families. You love your spouse, your children, and your parents. They need you, and if they are young or very old they depend on you. But uncertainity of life doesn't promise them anything. Suppose if something happens to you what happens to those who depend on you. You don’t want to leave your family unprepared for the future. And the answer is Life Insurance <http://www.insuranceprotection.biz/products/life_insurance.html>.
For your children's education!
If you have young children, you already know educating children is very expensive and it requires long-term strategy. Many people regularly contribute funds to the educational plans in order to save money for their children’s education cost which will cover all or some of the cost when they enter University, but what happens if something unexpectedly happens to you before adequate funds for education is accumulated. Life Insurance can provide lump-sum cash to your spouse to help pay part of yours children’s education cost.
To pay off debts!
If you and your spouse have debts (mortgage, car, and other loans) it will become a very big burden to carry by just one person alone, (and if it is a mortgage you might even lose your house.) What is the solution: Life Insurance. Life insurance is the buffer that can save your family from the impact of your death, and help create more financial security for your family.
Emergency fund for Final and other related expenses!
You & your family work hard to make money, and if something happens, you don’t want them to spend that hard earned money for your final (funeral and legal) and other expenses such as large medical bills. What is the cost effective way to handle such expenses? Answer: Life Insurance.http://www.insuranceprotection.biz/
We all love our families. You love your spouse, your children, and your parents. They need you, and if they are young or very old they depend on you. But uncertainity of life doesn't promise them anything. Suppose if something happens to you what happens to those who depend on you. You don’t want to leave your family unprepared for the future. And the answer is Life Insurance <http://www.insuranceprotection.biz/products/life_insurance.html>.
For your children's education!
If you have young children, you already know educating children is very expensive and it requires long-term strategy. Many people regularly contribute funds to the educational plans in order to save money for their children’s education cost which will cover all or some of the cost when they enter University, but what happens if something unexpectedly happens to you before adequate funds for education is accumulated. Life Insurance can provide lump-sum cash to your spouse to help pay part of yours children’s education cost.
To pay off debts!
If you and your spouse have debts (mortgage, car, and other loans) it will become a very big burden to carry by just one person alone, (and if it is a mortgage you might even lose your house.) What is the solution: Life Insurance. Life insurance is the buffer that can save your family from the impact of your death, and help create more financial security for your family.
Emergency fund for Final and other related expenses!
You & your family work hard to make money, and if something happens, you don’t want them to spend that hard earned money for your final (funeral and legal) and other expenses such as large medical bills. What is the cost effective way to handle such expenses? Answer: Life Insurance.http://www.insuranceprotection.biz/
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