Life insurance can be confusing; there are different policies available offering different types of cover and the prices vary from company to company. So how do you know which type of insurance policy is the right one for you? Here is some advice for all those who find life insurance confusing.
The most popular type of life insurance is level term life insurance; this is probably due to the fact that this is the cheapest type of insurance. Quite simply a level term life insurance policy is an affordable way to give yourself and your family peace of mind that should the worse come to the worse then you wont be left struggling financially.
If you die during the term of the insurance, then your loved one will get paid a lump sum which can help to cover the cost of the mortgage and related bills, the cost of the funeral and day to day living costs. However one point to remember is that this insurance is cheaper because there will only be a payout should you die within the terms of the policy.
If you want life insurance that pays out whether you die or not then whole life cover would be a better choice. With this type of insurance you are guaranteed a payout,...
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