KNOW YOUR POLICY BEFORE YOU INVEST YOUR HARD WEALTH
Our life is short, but the risks and gains associated are not at all short. And the only thing that all want without a doubt is security & protection from the inbound risks. And that’s where life insurance, the biggest cover to the mishap of death comes into play.
Our reputed councilors at The Insurance Surgery are regularly consulting several hundred probable clients and the major findings that we receive are that most of them are not properly aware of the eligibilities, benefits, risks insured & the covers available.
Out of them, the most common concerns are the ones that have chronic diseases like diabetes, hypertension. The next one on the list is those who are exposed to unsafe & hazardous working environments like mines, etc.
And as per our analysis, the major reason behind such a gap in awareness is the lack of mainstream media awareness, government initiatives & what now.
So, if you are on the same page with those mentioned above, we applaud you that you should now be stress-free as you are in the correct hands who will guide you provide the best cover.
What is Life Insurance & How does it benefit you?
Starting with the basic definitions, it is a type of contract signed between an insurance provider & an individual, where the service provider agrees to provide economic assistance under the name of protection on occasions pre-decided mishaps or maturity in lieu of monthly/annual fees. This fee is called a premium & the individual entering the agreement has to pay it to continue receiving the financial, protection from the insuring company.
Now Coming to the parts of benefits received by the individual from the insuring company.
Based on the contract, in the case of the death of the insured individual, the policy matures instantly & the insurer pays the assured money to the predesignated nominee. Visit https://www.the-insurance-surgery.co.uk/over-50s-life-insurance/ for more information.
Types of Life Insurance policies
There are different types of products & services that vary from one insuring company to another. The plans are made keeping in mind the varied situations & needs of the society. Some of the popular ones are:
- Term Plans
- Investment opportunities clubbed with life insurance benefits
- Savings options along with life insurance covers
- Health benefits & treatment cover along with life insurance covers
- Return / Dividend plan with life insurance benefits
- Child life insurance includes the covers for their life’s milestone activities like education costs, marriages, etc.
- Over 50s life insurance: Retirement plans along with complimentary life insurance covers