Life is not a tall safe in this fast society. We can't say when and where accidents can happen. So, life insurance is a must for a secure life. There are several life insurance policies are being provided by insurance companies. But, you have to choose the best quote. Before that we have to know the basics of life insurance.
Once you decided to opt for life insurance policy two basic questions flashes through your mind—the first one is how much to insure and the second one is which policy should be adopted? Now there are two types of policy—one is term life insurance policy and second one is whole life insurance policy.
In case of former policy, you get coverage for 10, 15 or 25 years. At beginning, the size of premium is pretty small but overtime it goes on increasing with an exception of 'level term' policy. In many of the cases, the policy expires long before the policy holder passes away and one may have to shop for another policy.
Whole term life insurance policy requires you to shell out more premium as they provide life long coverage. Another added advantage of this sort of policy is built-up cash value that comprises of a part of your premium and interest paid by the insurer company.
Once you decided to opt for life insurance policy two basic questions flashes through your mind—the first one is how much to insure and the second one is which policy should be adopted? Now there are two types of policy—one is term life insurance policy and second one is whole life insurance policy.
In case of former policy, you get coverage for 10, 15 or 25 years. At beginning, the size of premium is pretty small but overtime it goes on increasing with an exception of 'level term' policy. In many of the cases, the policy expires long before the policy holder passes away and one may have to shop for another policy.
Whole term life insurance policy requires you to shell out more premium as they provide life long coverage. Another added advantage of this sort of policy is built-up cash value that comprises of a part of your premium and interest paid by the insurer company.
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