What you need to know About Life Insurance Policy or Life Assurance

Jez Pelio

New member
Understanding a life insurance policy or life assurance is a written agreement between an insurance policy owner and insurance company, where the insurance provider promises to pay a specified amount of money (the advantage) in return for a premium, after the demise of an insurance owner covered by insurance company.

One other important to note by having a reliable financial plan is by safeguarding your fixed and current assets. And the only way you can achieve this, is for you to always keep your fixed and current assets with insurance comapny.

Having this on your mind, it will become easy to know which insurance policies will help you and protect not only your money but also your property.

I hope this information helps.
 

jhon paul

Member
Life assurance is a type of life insurance that does not have term limit.Life assurance claims therefore tend to be made out no matter what age the policy holder is when they die but the payout is guaranteed.Most of life insurance policies are taken out set period of time or term. which usually last between five and 30 years.During the term of contract the policy holder pays a set amount of money and the premium will be each month once a year.In the event of their death their life insurance provider pay their dependents.A lump sum designed to cover the resulting loss of income.

You pay for life assurance in the same way you pay for any insurance policy by passing the pre agreed monthly premiums however the term length of life assurance is indefinite this premiums are much more expensive.
 

Wisdom01

Valued Contributor
I think life insurance policy covers the benefit to be given at a specified time which could either be on a long term basis which is permanent life insurance policy or on a short term basis , either of the two ,but I think the most important is going for the best insurance company to get coverage
 

btaliat

VIP Contributor
Life insurance is arguably one of the best insurance polices one can think of investing in. There are various types of life assurance. There is term life insurance policy which allows the beneficial to pay premium for some agreed time and there is whole life assurance, which allows the beneficial to get all all the benefits after death.
 

Mandy96

Valued Contributor
Somehow I agree with your analysis. It is a very sensitive thing for one to do before purchasing a life insurance. I mean it is important for an individual to make some of these research on his or her own for safety purpose because if not, it might cause some problem in the future
 
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