Term Life Insurance
Saturday, January 12, 2008
Life Insurance Facts
What is Life Insurance?
Life insurance is protection against financial loss resulting from death. It is an insurance company's promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.
Life insurance is a cornerstone of sound financial planning. You can make use of life insurance to grow and safeguard your money for the benefit of your financial well-being.
There is a wide range of life insurance products to choose from to suit your individual needs and means.
Why do you need life insurance?
Life insurance provides you and your family valuable financial protection against financial loss in the event you die unexpectedly or suffer from a critical illness or physical disability.
With adequate coverage, life insurance can provide you with an income during your retirement years, act as a financial back-up for emergencies or protect you against huge medical costs that you may incur.
* For protection
Life insurance can provide protection against life’s unforeseen events such as physical disability, critical illness or untimely death. When such unfortunate events occur, an insurance company will pay out benefits to the beneficiaries in accordance with your insurance policy.
The benefits are intended to cover financial needs of family members – most often parents, spouse and children – who are dependent on you for these needs.
With insurance coverage, you can be assured that your family’s financial needs are taken care of.
* For retirement
Statistics have shown that we are living longer. We run the risk of outliving our savings if we do not save adequately. Thus, it is prudent to consider ways to ensure that we have a comfortable income during our golden years so as to enjoy the lifestyle we have been accustomed to.
Life insurance can play a significant role in long-term retirement planning and providing an income during your retirement years. However, do not wait till you are close to retirement or have retired to consider the options. Planning should be done early, when you are much younger, so that the returns will be more beneficial in your senior years.
* For savings
Life insurance can be a vehicle that instills the discipline of saving regularly and still provides that much needed insurance coverage.
In addition, should the unfortunate premature death or disability happen to you during the protection period stipulated in your insurance policy, the sum insured will still be paid to you or your beneficiaries.
* For investment
There are life insurance products that offer the combination of savings and insurance protection, and at the same time, enables you to have more flexibility and choice as to how your premiums are invested.
This is typically suited for those who may like a higher potential for investment return. However, higher returns typically mean higher risks. In deciding which funds to invest in, you should consider your own risk appetite and investment horizon.
With the appropriate life insurance product, you can reap higher returns and still be assured that your loved ones are protected from financial loss when you are not around.
Life insurance is protection against financial loss resulting from death. It is an insurance company's promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.
Life insurance is a cornerstone of sound financial planning. You can make use of life insurance to grow and safeguard your money for the benefit of your financial well-being.
There is a wide range of life insurance products to choose from to suit your individual needs and means.
Why do you need life insurance?
Life insurance provides you and your family valuable financial protection against financial loss in the event you die unexpectedly or suffer from a critical illness or physical disability.
With adequate coverage, life insurance can provide you with an income during your retirement years, act as a financial back-up for emergencies or protect you against huge medical costs that you may incur.
* For protection
Life insurance can provide protection against life’s unforeseen events such as physical disability, critical illness or untimely death. When such unfortunate events occur, an insurance company will pay out benefits to the beneficiaries in accordance with your insurance policy.
The benefits are intended to cover financial needs of family members – most often parents, spouse and children – who are dependent on you for these needs.
With insurance coverage, you can be assured that your family’s financial needs are taken care of.
* For retirement
Statistics have shown that we are living longer. We run the risk of outliving our savings if we do not save adequately. Thus, it is prudent to consider ways to ensure that we have a comfortable income during our golden years so as to enjoy the lifestyle we have been accustomed to.
Life insurance can play a significant role in long-term retirement planning and providing an income during your retirement years. However, do not wait till you are close to retirement or have retired to consider the options. Planning should be done early, when you are much younger, so that the returns will be more beneficial in your senior years.
* For savings
Life insurance can be a vehicle that instills the discipline of saving regularly and still provides that much needed insurance coverage.
In addition, should the unfortunate premature death or disability happen to you during the protection period stipulated in your insurance policy, the sum insured will still be paid to you or your beneficiaries.
* For investment
There are life insurance products that offer the combination of savings and insurance protection, and at the same time, enables you to have more flexibility and choice as to how your premiums are invested.
This is typically suited for those who may like a higher potential for investment return. However, higher returns typically mean higher risks. In deciding which funds to invest in, you should consider your own risk appetite and investment horizon.
With the appropriate life insurance product, you can reap higher returns and still be assured that your loved ones are protected from financial loss when you are not around.
Labels: Life Insurance Facts
posted by Admin at 11:23 PM
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