Tag Archive: insurance cover


Term life Insurance

Choosing to purchase a term life insurance is a decision that some choose to make for the protection of their dependents. In fact, the number one reason that one acquires a policy is to replace income should the primary source pass away. Another reason for the consideration of a purchase is to cover a non-earning caregiver whose loss may devastate the family.

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What should then be the steps to acquiring a policy? An insurance agent enters into a type of contract with the one that is seeking to be insured. Thus, if one pays a premium, then there is a guarantee of a payment made to those that have been named in the policy as the beneficiaries. For instance a child, spouse, or other members of the family.

How much premium that will be paid depends on a few different factors. For example medical history, occupation, age, and gender of the person who will be insured. Thus before coverage commences an insurer may require a potential client to undergo a medical examination and to answer questions about their history and certain relevant activities. More details here.

The question that one must then ask themselves is life insurance something that they should purchase? One factor that one should consider is if their income is critical to the survival of one’s family. If it is then acquiring a policy should merit serious consideration. After all many things that the family requires can only be gotten through the spending of money.

Paying the mortgage, tuition for college, expenses, and keeping the car and home in good repair are all examples of how income is needed. Thus, the loss of the primary income to the family can threaten its survival. A situation that most would be determined to take steps to avoid if it was within their power to do so.

Once the decision is made to acquire a policy, the next step is to … Read the rest