Which Life Insurance Policy to take?

raaman

Valued Contributor
Life insurance plans are available in many types. It is necessary to have life insurance for the earning person in the family, because if they die due to unfortunate reasons, then their family gets financial support from life insurance itself.

If you want to take a life insurance policy either for yourself or for any of your family member, then all the rules associated with the insurance policy should be well understood, and an adequate amount of life insurance should be taken.

Since there are many types of life insurance policies available in the market, people get confused in so many ways. So, you have to try to understand the different types of life insurance policies, before going in for any particular one.
 

btaliat

VIP Contributor
There are many types of life insurance for sure. And the one to go for should be in tandem with the purposes of going for it. There is term life insurance that aims at helping the insured person to save money for sometime while we have the whole life, that aims at helping the family of the insured after death.
 

Good luck

Verified member
You are very right.Many people just do life insurance policy without having a good idea of what they type of life package they are engaging in.it is very good to know the plans because it may look confusing at first time and I think the best life insurance should be after the demise not before because it really pays more.
 

Wisdom01

Valued Contributor
There is actually both short term and long term life insurance , it all depends on the one you are willing to choose and go for ,I think many people usually go for the short term life insurance policy because of the specified period they would get their benefit at the end
 

Bilalofficial

New member
Life insurance company in Nigeria facing Many problems and the insured but if they can you this solution as options
Digitalizing small commercial
Commoditizing
improve of quality analytical data
 

Wisdom01

Valued Contributor
You are very right.Many people just do life insurance policy without having a good idea of what they type of life package they are engaging in.it is very good to know the plans because it may look confusing at first time and I think the best life insurance should be after the demise not before because it really pays more.
Yeah true but most times the life insurance after the demise to get the benefit , could be very tedious and contain too much amount of problem , because the demise must die , before the benefit would be received ,also the person needs to be paying the necessary premium for coverage
 

dagm

Active member
You are absolutely correct. Many consumers purchase life insurance policies without understanding what type of policy they are purchasing. It is important to understand the plans because they may appear perplexing at first, and I believe that the greatest life insurance should be purchased after the death, not before, because it pays out more.
 

dagm

Active member
You are absolutely correct. Many consumers purchase life insurance policies without understanding what type of policy they are purchasing. It is important to understand the plans because they may appear perplexing at first, and I believe that the greatest life insurance should be purchased after the death, not before, because it pays out more.
 
D

Deleted member 28127

Guest
It is not a big difference. Just the margin taken by different companies differentiates a little for example this insurance company is paying 20,000 $ when you are dead and you have two children and another is paying 22,000 $. Another example, this one debits 250 $ monthly and the other 270 $ monthly. It depends on the number of employees and internal rules essentially for the same cases.
 

Good luck

Verified member
Yeah true but most times the life insurance after the demise to get the benefit , could be very tedious and contain too much amount of problem , because the demise must die , before the benefit would be received ,also the person needs to be paying the necessary premium for coverage
I think tediousness of getting benef8from an insurance company is what do scare people from engaging in life plan after the demise of the insurer.A lot of pressure will be on the next of kin because of all the procedure to follow.some may still give you a specific time to get the benefits and some paper work may still be required which make the whole scenario tiring for the beneficiary.
 

Wisdom01

Valued Contributor
I think tediousness of getting benef8from an insurance company is what do scare people from engaging in life plan after the demise of the insurer.A lot of pressure will be on the next of kin because of all the procedure to follow.some may still give you a specific time to get the benefits and some paper work may still be required which make the whole scenario tiring for the beneficiary.
That is it and in order not to go through the stress ,the people that want to insure his or her property would now prefer to go for a short term plan ,so that they would hurriedly get the benefit without any form of tedious and others and also with less stress attached
 

Mandy96

Valued Contributor
If you ask me, I think the one I can always advise people to opt for is the term life insurance policy because it is very straightforward and precise. You invest your money and you will wait for some certaon period to cash out your investment, it is as simple as that
 
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