Augusta
VIP Contributor
When you are thinking about life insurance, you have to know the little facts about so that you know the simple things that has to do with it.
So what are the simple truth you should know about life insurance
A policy that is legally binding contract
The truth is that life insurance is a legal binding contract that pays a death benefit to the insured beneficiary when the insured person passes. This part of the contract must be carried out at the Demise of the policyholder.
Secondly, for this policy to remain be adopted, the insured must have paid a single premium upfront or pay regular premiums over time. Now when the policyholder passes on, the insured named beneficiaries will get the policy’s death benefit which is always the face value
The expiration of Term life insurance policies is after some number of years which will be specific but a permanent life insurance policies I's the one that will stay active till the insured surrenders the policy, is dead or stops paying premiums.
You need to know that a life insurance policy is proportionate to the financial strength of the insurance company that you are working with. So you need to know the financial strength of the company issuing it.
So what are the simple truth you should know about life insurance
A policy that is legally binding contract
The truth is that life insurance is a legal binding contract that pays a death benefit to the insured beneficiary when the insured person passes. This part of the contract must be carried out at the Demise of the policyholder.
Secondly, for this policy to remain be adopted, the insured must have paid a single premium upfront or pay regular premiums over time. Now when the policyholder passes on, the insured named beneficiaries will get the policy’s death benefit which is always the face value
The expiration of Term life insurance policies is after some number of years which will be specific but a permanent life insurance policies I's the one that will stay active till the insured surrenders the policy, is dead or stops paying premiums.
You need to know that a life insurance policy is proportionate to the financial strength of the insurance company that you are working with. So you need to know the financial strength of the company issuing it.
