Life insurance
Life insurance is one of the safeguards against the effects of the financial or loss of income of a person or family because of the death of a (responsible) family member who was the sole breadwinner for the family.
Simply stated, life insurance is the type of insurance intended to provide one or a family with an unexpected financial loss because of one's death.
According to life pals official statement, there are certain types of life insurance that you can buy as needed, which is:
1. Term life insurance
The product of long-term life insurance is the basic form of life insurance. The protection given can be managed on its own according to the desired time of year from 5 to 30 for the beneficiary to collect the inheritance on account of already passed away.
In addition to utility money, long-term life insurance has very beneficial benefits, ranging from fixed stickups, premiums release, to credit brackets. In order to do so, it is necessary to purchase additional insurance with premiums.
2. Whole life insurance
The type of life insurance offered is the maximum protection of the client's lifetime, with a maximum age limit of up to 100 years.
Generally, these policies promise a return of premiums at the end of insurance. So even if we get past 100 years of age, premiums won't all be charred.
Lifetime life insurance is associated with pension plans. Thus, customers can prepare for the best in their years.
3. Dwiuse life insurance
Dwiuse life insurance is not all that familiar. Dwiguna insurance is a life insurance product with an additional benefit of savings.
Part of the customer premium goes into savings, while the rest comes with protection benefits. At the end of the policy, the beneficiary would get cash in savings and mortgage money.
The product is ideal for people with long-term financial plans, such as collecting education, retirement, or marriage funds.
