It's hard to think about what happens after you die. Whether you believe in a certain religion or not, death is a scary thought. It's also scary to think about what will happen to your loved ones after you passed. Have you considered life insurance?
Most life insurance policies involve the policy holder and his or her husband or wife. While this is the common beneficiary, life insurance policies do not limit the beneficiary to your spouse. Policy holders can also designate brothers, sisters, children, nephews, nieces, and business partners.
Since you need to start early with life insurance and will hopefully pay a premium for a long time (after all, you want to live for a long time), then the number one concern when finding a policy is one with terrific benefits but also affordable.
Again I stress the importance of opening up a policy as soon as possible. You never know when death is going to come knocking at your door. It's unfortunate to think about, but a cold and harsh reality.
Go over the details and study every policy closely. If you are in good health and do not work an extremely hazardous job, your rate should remain cheap.
The insurance provider will require the proposed policy holder to go through a series of medical examinations and tests. Unfortunately this is required, as it is the only way an insurance provider can judge your current health.
If you take out the plan early, you now have an option of halting payments when you reach retirement age. If you are concerned about still paying the premium when you no longer make as much money as you did when you worked, you can stop paying the premium. The insurance provider understands and will still award the "fixed term" rate when you pass. But you must start early to enjoy this pleasure.
"Who needs life insurance?" Don't we all? It's the only way to provide for your loved ones after you are gone. - 33372
Most life insurance policies involve the policy holder and his or her husband or wife. While this is the common beneficiary, life insurance policies do not limit the beneficiary to your spouse. Policy holders can also designate brothers, sisters, children, nephews, nieces, and business partners.
Since you need to start early with life insurance and will hopefully pay a premium for a long time (after all, you want to live for a long time), then the number one concern when finding a policy is one with terrific benefits but also affordable.
Again I stress the importance of opening up a policy as soon as possible. You never know when death is going to come knocking at your door. It's unfortunate to think about, but a cold and harsh reality.
Go over the details and study every policy closely. If you are in good health and do not work an extremely hazardous job, your rate should remain cheap.
The insurance provider will require the proposed policy holder to go through a series of medical examinations and tests. Unfortunately this is required, as it is the only way an insurance provider can judge your current health.
If you take out the plan early, you now have an option of halting payments when you reach retirement age. If you are concerned about still paying the premium when you no longer make as much money as you did when you worked, you can stop paying the premium. The insurance provider understands and will still award the "fixed term" rate when you pass. But you must start early to enjoy this pleasure.
"Who needs life insurance?" Don't we all? It's the only way to provide for your loved ones after you are gone. - 33372
About the Author:
Graham McKenzie is the content Syndication Manager at insurance123.co.zaSouth Africa's leading Life Insurance information portal
