Wednesday, October 3, 2012

Kind of Life Insurance

There some kind of life insurance. So, you have to buy it that best suits your needs. Types of life insurance among other things:
  • Term Life Insurance
It is a kind of life insurance in which the insurance contract lasts for a certain period of time. In the event of the risk of death during the insurance contract, the insurer will pay the insured a sum of money to your heirs. However, if it does not happen the risk of death during the insurance contract took place then you won't get any cash either Indigo sum assured and the return of the premiums already paid. There is no element of the savings and investment in term life insurance. Therefore, term life insurance indeed taken only to the course.
  •  Endowment
This type of insurance is almost the same with Term Life Insurance that can be taken during a specific time period. The difference is term life insurance in order to ensure the provision of endowment amount could have a sum of money or refund amounts of coverage premiums already paid following the results of its investments. A number of the cash value will be given no matter happens to the risk of death or not.
  • Whole Life Insurance
Same as endowment to that combines elements protection with savings and investment into one, However, a period of insurance or contract lasts a lifetime. As a result the whole life insurance premiums are more expensive than term life insurance and more expensive than endowment premiums.

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