I term life insurance with endowment plan, I do not have whole life insurance. The term life insurance policy I have has a 25-year maturity period. During the insured period, I will receive compensation against accidents and terminal illnesses. Once the policy matures, I will also get back my insured amount. I find this insurance policy very useful. Well, the money I pay for premium can be invested in stocks and get better returns but with stock investment I don’t get insurance coverage. Term life will not only give back my money with some bonus but also provide coverage. The money I get back can be used for investments, debt repayment, starting a business, or buying a house.
Do You Find Life Insurance Useful?
- Thread starter Mika
- Start date
Life insurance is all right as it does provide necessary coverage to your family in case of the worst scenario. When you die, the insurance company gives a one-time payout to your next-of-kin to enable him/her clear bills, feed the family, or fund future costs such as school fees for the children. For a parent to know that they will not lack finances when you are no longer around brings a lot of comfort. That is why life insurance is also appropriate in times of unpredictable situations, to provide assistance at the worst time. It is a measure that informs your family protection.