Term life insurance is the most basic type of life insurance. That covers you for a specific period of time, such as 10, 20, 25 or 30 years. It’s also the cheapest and easiest to get. When the term expires, the owner must purchase a new policy to continue receiving protection. It can be renewed or extended beyond its original term. It is design to cover the financial needs of your family in the event of your death during that period of time.
Whole life insurance is a permanent form of life insurance. That means that coverage is in place for life. As long as your premiums are paid, your beneficiary will receive the death benefit regardless of how long you’ve been covered by the policy. The premium remains level throughout your life. You will never have to worry about increasing premiums due to age or health conditions. It also accumulates a cash value over time. The cash surrender value is what you get if you surrender the policy to the insurer. It is not added to the face value of the policy, which your beneficiaries get if you pass away.
Critical Illness Insurance
Critical illness insurance is one of the best financial plan that is designed to help you deal with a critical illness. Critical illness insurance is an insurance policy that pays a lump sum if the insured becomes critically ill. The policyholder may be entitled to a cash benefit if they are diagnosed with an illness or condition specified in the policy. This kind of policy is very useful for policyholders. You can use this policy as a saving vehicle by adding with the options purchase such as premium return at the insured’s death or insured’s can recover premiums. In fact, the insured’s has a choice as to the year in which the return of premiums option can be exercised.
Mortgage life insurance is a product that is bought to ensure the financial security of a family against the loss of income that would be caused by the death of a family member. It is generally protect your family’s future by guaranteeing that outstanding debts are paid off in the event of your death.
Health And Dental Insurance
With the rising cost of healthcare, prescriptions and dental treatments, you may be wondering how to cover the costs. Fortunately, health insurance plans help you to pay for medical, prescription drugs and dental expenses. The amount of coverage that you can purchase depends on your age and the type of plan that you choose.
If you are an individual who is not eligible for coverage through your employer, you may consider purchasing a plan. The amount of coverage that you can purchase depends on your age and the type of plan that you choose. You can choose individual plan or you can also add a spouse and/or children to your plan to make one family plan.