Most of us don’t like to think of our own death. However, death is a part of life. If you are being diagnosed with a critical illness, then you should give some thought to the subject of critical illness insurance and life assurance. First thing to understand before purchasing life assurance is that there are different types of life assurance. The type that is best for you will depend on a variety of factors including your current age and health condition. There are two major types of life assurance policies :1. Term life assurance provides coverage for a specified period of time. This type of coverage will usually be less expensive than permanent policies. Policy periods are usually divided up into easy periods such as one, ten or twenty years. In the event you die within that time period, the death benefit will be paid to your beneficiaries. On the other hand, if you should reach the end of the time period and you are still alive your protection will end unless you elect to renew the policy. Individuals who only need temporary life cover and those who need a large amount of coverage but who can’t afford to spend a lot benefit from this type of policy the most. (more…)

Popularity: 31% [?]