What Type Of Life Insurance Is Right For You?

The two simplest products are level term assurance and family income benefit. The term assurance lump sum can be invested to provide an annual income and/or used to pay off debt, while family income benefit can directly replace the shortfall in annual income. Most life assurance policies work on the ‘you drop dead, we pay up’ principle. However, some companies offer whole of life plans which combine insurance and investment by deducting the cost of life cover from your savings plan. You can discuss with your life planner about how…

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