Life insurance Which life insurance policy plan do you prefer?

[sincerem]

When it comes to life insurance policy their are two major types of life insurance mainly;

* Term insurance,

* Whole life/permanent life insurance.

In "Term" life insurance policy, the insurer comes to agree on a specific duration of time, which starts from 0-30 years to decide if death occurs within such duration of time. If death occurs within the agreed duration then the customer receives death warrant, which the family members take.

In whole life insurance/permanent, the insurance company pays benefits to the affected insurer even though he or she live for 100 years and above. They pay the death benefit one time whenever the person that insured his or her life passes away.

Between "Term and whole life insurance, which one do you prefer to go into?

 

[Ahmedo24]

No doubt whole life insurance seems to be more reasonable to opt for though I think the premium for it might be higher than me the other type of insurance.. 100 years of age is not an easy one to come by and you continue to enjoy health benefits I think with this kind of her insurance till you passed away

 

[btaliat]

There are other like annuity life insurance but the two you made mentioned are the popular ones for sure. If I am to go with one between the two, I am surely going for term life insurance. This will allow me to reap from the compensation and I can use the compensation to establish.

 

[sincerem]

No doubt whole life insurance seems to be more reasonable to opt for though I think the premium for it might be higher than me the other type of insurance.. 100 years of age is not an easy one to come by and you continue to enjoy health benefits I think with this kind of her insurance till you passed away

Yes, whole life is more ordered cos you can earn rewards any time even if its 200 years time, provided it is under the terms and conditions of insurance company. Let's just bear in mind that the amount of premium services we'll pay for it will be higher, and the benefits comes once and that's it.

 

[Mika]

I am not married, I don't have kids. Therefore, there is no point in buying a whole life insurance policy for me. I don't have anyone who is financially dependent on me. I have bought term life insurance policy that will give me benefits after the maturity period of 20 years. This is better

 

[sincerem]

I am not married, I don't have kids. Therefore, there is no point in buying a whole life insurance policy for me. I don't have anyone who is financially dependent on me. I have bought term life insurance policy that will give me benefits after the maturity period of 20 years. This is better

Can you stay alive and reap from the 'term life insurance policy you opted for? I got the information that before one gets a life insurance benefits, the person won't live to enjoy it, that it will be the family members that will reap from it for his or her burial rights. Is their any way you can earn from life insurance policy while living life?

 

[Ahmedo24]

Term life insurance but the more of advantage to someone who has enough money already which he believes that he won't be needing any benefit from insurance in most part of his life such that his children and grandchildren cna benefit from it which is not a bad idea in my opinion.

 

[sincerem]

Term life insurance but the more of advantage to someone who has enough money already which he believes that he won't be needing any benefit from insurance in most part of his life such that his children and grandchildren cna benefit from it which is not a bad idea in my opinion.

Term life insurance is scheduled for specific number of years, when the contract is reached after many years, it has a max of 30 years duration, meaning you can't exceed that in 'term life insurance policy. The one you grand children can reap from is the "Whole life insurance which runs over 100 years.

 

[Mandy96]

I am really not the type that buys the idea of insurance policy but if I must choose. I think I will prefer the liability insurance whereby the insurer which is the insurance company will have to take responsibility for any damage or loss caused by the insured. I think that is cool even if I have to pay for the premium.

 

[Jamoflondon]

Oh that’s great, I used to think that life insurance is only one no type under the insurance policy. If I was to choose, I would go for term insurance because it means you will still be alive to get your compensation from the insurance company rather than going for the whole life insurance where you will only get compensated after your death.

 

[Lens1000]

I preferr the term life insurance. I want a probability of enjoying my money while I am alive to be high. The term life insurance last for an agreed period of time between the insurer and the insured. In whole life insurance, you will get your benefit when you are no more. So, you don't stand the chance to witness the benefits of the insurance policy.

 

[Good luck]

I would prefer a whole life insurance policy since i am a family man and i have children.it will be more advisable to join such policy to be able to enjoy a whole lot of benefits though one really needs to invest and one start to enjoy the benefits of an insurance company.Life insurance policy is the best for one who is willing to join the firm

 

[sincerem]

I am really not the type that buys the idea of insurance policy but if I must choose. I think I will prefer the liability insurance whereby the insurer which is the insurance company will have to take responsibility for any damage or loss caused by the insured. I think that is cool even if I have to pay for the premium.

Liability policy is an in-demand policy plan. As a business owner that owns private liability company. You can get your company insured and pay the hefty service fee to get insured. But when the company face great damage, or loss of products that occurs due ship sinking and xD, the insurance company stand to cover the damages.