Or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions.
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Or whole of life assurance (in the Commonwealth of Nations), is a life insurance policy that remains in force for the insured’s whole life and requires (in most cases) premiums to be paid every year into the policy. Whole life insurance typically requires that the owner pay premiums for the life of the policy.
Let us guide you(Often shortened to UL) is a type of permanent life insurance. The policy is established with the insurer where premium payments above the cost of insurance are credited to the cash value of the policy. The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge.
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Why Is Important? With the high cost of funerals, the last thing anyone wants to think about after they lose a loved one is paying for and planning final arrangements, but it is a sad reality many people have to face who don’t have the proper coverage to prevent such occurrences. Final expense insurance can help ease that burden by paying for many of the costs associated with funerals.
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