Life insurance What life savings insurance offers you

[Mandy96]

If you are into insurance I believe you will know what life savings insurance really means; anyways life savings insurance could offer you more interest than most of other insurance plan. This life savings insurance plan could run with two years or more it depends on the insurance company you are doing your insurance plan with. What most people do not know about savings insurance plan or policy generally is that it brings less risk and more profit than running a regular savings account with a bank because at a bank you save your money there is no legal agreement that states that the bank you are saving your money in can not go bankrupt and even if it does, there is no assurance you are getting your money back while this doesn’t happen in an insurance business because there is legal agreement for every single process you take.

 

[Mataracy]

@ Mandy , you are very correct with those analysis and explanation . And with your explanation its very good to involved oneself with life insurance poly because its very good and will surely yield good profit at the end . Its just like one is saving money and the interest will be coming out always because its a longterm investment.

 

[Jamoflondon]

Well from your explanation about life savings insurance, I really can’t point out the difference between life savings insurance and the savings made at the bank because it is understandable that both deals with savings and getting your savings back when you need it but I think life savings insurance deals with little premium payment as savings and receiving it in multitude when you need it.

 

[btaliat]

I don't believe in the last sentences about the comparison between banks and insurance companies. Though it is not a fallacy to conclude that insurance companies offer more than what banks offer, if a bank goes bankrupt, money can still be recovered while of insurance goes bankrupt, the money also can still be recovered under NICON, in the case of Nigeria.

 

[Setho]

Insurance covers and most of only offered by banks around here or even if they are not offered by banks that they are offered by subsidiaries of financial institutions. Life assurance is actually a good thing to have because it does not only mean that you can pull out the money in death but also when you suffer a very bad illness too.

 

[Mika]

I know nothing about life insurance-saving policies, in fact, I even don't know if a policy like this exists. If you have bought a term life insurance policy, it can b considered some sort of saving scheme (even though they do not use that word) because you pay a premium every year and get big returns after maturity.