Archive for category Life Assurance
Level Term Life Assurance
Posted by admin in Life Assurance on October 3, 2011
We all want some type of security for our families in today’s economy which is why life insurance is getting a revival. People were buying goods and saving lots of pounds prior to the recent recession, therefore life insurance was not at the top of a lot of peoples’ lists of priority. For some young people there is a great form of insurance that is called level term life assurance. This is a form of insurance that can last for as little or long as you want, depending on what you negotiate with your provider. It is a great alternative to the norm which usually requires a life commitment and possible differences in rates. There are several benefits to having level term life assurance which will be discussed in detail below.
In cases where people are just starting their adult life, level term life assurance is a great choice to make. Most people usually have student loan debt and other various debts that they have accumulated in their early stages of life. In addition to that it can take some people several years to pay off their student loans and become financially stable. What would happen if you were to pass away during this period of financial instability? Your debt would be transferred to your loved ones and they would be stuck paying the bills.
This is why it is so important to have level term life assurance, it affords you the comfort of not having a permanent form of life insurance and it allows you to be covered during your period of transition from financial instability to stability. As mentioned this is a great way to provide security for your loved ones in case of death during this time frame. Read the rest of this entry »
How Life Assurance Gives You Extra Security
Posted by admin in Extra Security, Life Assurance on October 3, 2011
Life assurance is a product offered by insurance companies, but a very different policy from life insurance itself. With life assurance, the contract that is made between the insurance firm and the policy holder agrees to make a payment on the policy after the individual’s death – or in some cases, in the event of their terminal or critical illness.
This is a policy based upon a definite event, not the risk of an event as in life insurance. A life assurance policy also relies upon the policy holder paying regular sums – or premiums – into the policy. The payout itself is made to beneficiaries designated by the policy holder.
At first, the premium tends to be a fixed sum for a 10-year period. After this date, the sum comes under review and the insurer decides whether the investment fund is growing sufficiently to provide the required final sum. If it is not, either the premium will have to be raised or the eventual payout will have to be reduced. Read the rest of this entry »