Question : What is the importance of life insurance plans?
I actually planning to get one life insurance for myself.But, I dont know the benefits of this one?Can you please advise?
- asked by Dubai Girl
All Answers:
Answer #1
the benefits of any life insure plan is the samewhile your alive you pay the premiums when you diethe company pays your benefiacary a huge lump somebenefit
- answered by visvardis
Answer #2
Generally life insurance is to pay either a lumpsump benefit or replace your income through someform of annuity payment, for your family in caseof death.They usually break down into twogroups."Term" which you pay premiums every yearand renewal may (but depending on the plan, is notalways be guaranteed to) be renewableAnd "WholeLife", which you pay much more for it but willstay in force your entire life.Term is the way togo for almost everyone.Term that has some kind ofguaranteed renewal for the rest people.Whole forpeople who need life insurance but just don't everget around to renewing their term policies.
- answered by Vultureman
Answer #3
It is VERY DIFFICULT to advise anyone on the topicif life insurance (or financial plans) over theinternet unless you want to reveal all of yourfinancial situation (income, debts, expenses,savings, family size, etc.)I suggest you find alocal insurance agent or financial planner who canguide you.There are two basic types on lifeinsurance - term and permanent (Whole life is ONEtype of permanent). I find that a combination orboth types really works well to allow my clientsto achieve their goals - have enough money ifsomething happens early in life as well as havingenough money to do things at the end of life topay for funeral expenses, medical bills that comeat the end, as well as leaving money for spouse orother family to grieve without financialworries.Talk to a professional.Good Luck.*
- answered by insuranceguytx
Answer #4
The "importance"of life insurance is to providefor the financial support of your spouse and otherdependents, if you should die. If you don't haveany of those, or if they would not need thisfinancial support, and you have enough money inthe bank for your funeral, you don't need lifeinsurance.
- answered by r_kav
Answer #5
You don't buy life insurance for you. You buy itfor those that survive you after your untimelydeath.You get it so that your family does not haveto sell their cars, house, etc to pay off yoursecured bills, medical bills, and funeral costs.
- answered by Richie Rich
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measure and fulfill your financial needs
