Life insurance provides a very important function against the financial loss due to an unexpected
premature death of an insured, whether it be a family member, business partner or key individual.
And it will safeguard the family in case of
a premature death of the insured.
Not exact matches
This convertible term insurance can be made
of use when the person
insured is still at a young age where the insurance could still cater for small expense and
premature death but as time comes everyone gets older, this convertible term insurance might not be enough to cater the long term needs
of the
insured so it is
of best interest that the policy holder should convert their policy to a more permanent type
of insurance such as Universal Life.
Term insurance is designed to provide temporary protection for risk
of premature death and pays a benefit if the
insured dies within the established term period.
Life insurance is intended to protect the family against possible financial loss on
premature death of the life
insured.