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How does family life insurance works?

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    How does family life insurance works?

    Family life insurance policy that will help in providing the needed financial security to your family even in your absence. This cover can be claimed after the insured person passes away during the policy term and the amount can be used the family to meet the financial commitments.


    #2
    Family life insurance is one in which the policyholder will have to make monthly payments to the insurer, and in an event when the insured person passes away during the term of the policy due to reasons specified according to the policy terms, the insurer will pay the policy cover amount as a lump sum to the dependents.And if you did pass away during the policy term the insurer would pay the cover amount that you took out the sum assured to the beneficiary.In this the policy will lapse if there is a failed premium payment if the death of the insured happens after the end of the policy.
    Lifeinsuranceuk

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