No one here wants to live his life suffering in a disease or even nobody wants death. People are conscious about their health and they want to live a healthy life with their loved ones.
That’s the only reason they are interested in taking life-insurance policies. Life insurance ensures you that you will be helped if you will suffer from a disease or even the life insurance company will take care of your loved ones. But there are a lot of questions that’s comes in the mind of a person while taking a life insurance policy, this articles provides you all the details about those question and guides you in best regards.
Q1. What does life insurance means?
Life insurance means a policy a document which provides benefits to the policy holder when he suffers from a disease or even in worst case if he dies the company will pay amount to his family and take care of his loved ones.
Q2. What’s the difference between life insurance and life assurance?
Generally both looks same but technically both are different, life insurance is your insurance policy which you get for a specific period of time from the insurance company. When you get a diseases during this period or you die company pay to you and your family. But life assurance is little bit different it is a sort of investment you invest in the company with your money and your receive bonuses and annuity over your investment.
Q3: Can I buy multiple life Insurance policies?
Yes, you can take multiple life insurance policies. If you have multiple life insurance policies definitely you are going to get more money in worst cases but for this you even have to pay more while in your happy times.
Q4: How long the life insurance plan is?
It depends on the policy you take, you can take up to 2o years long life insurance policy.
Q5: what’s the age limit for life insurance policy?
Most of the life insurance companies don’t give policies to the persons who are entering into 40s or 50s because giving insurance policies to older people needs more considerations.
Q6: what my insurance policy will cover?
It depends on which policy plan you have chosen, you can choose from worst cases to daily routine medicine expense when you get ill. It depends on how much cover you want during worst conditions.
Q7: what the benefit to my family?
Your family will receive a cover, they will receive lump sum amount if you die accidently and even they will receive monthly income cover in some policies.
Q8: How much I need to pay for getting a life insurance policy?
It depends on the company you are taking insurance policy, you can pay monthly, semiannually, annually according to the total policy amount you have taken.
Q9: Can I get a joint life insurance policy?
Yes, you can get a joint life insurance policy with your family members. In case anyone insured got ill the policy will be effective to him/her.