Decreasing Term Assurance
These plans provide a death benefit that decreases in amount with term of coverage
Mortgage Redemption:
It pays off a policy holder's mortgage in the event of the person's death
Credit Life Insurance:
Designed to pay the balance due on a loan, the borrower dies before the loan is repaid
Increasing Term Assurance
This plan provides a death benefit, which increases along with the term of the policy
Premium generally increases as the amount of coverage increases
Term Insurance with return of premium
This plan leaves the policy holder with the satisfaction that he/she has not lost anything in case he/she survives the term
The premium paid would be much higher than that applicable for an equivalent term assurance without return of premium
These plans provide a death benefit that decreases in amount with term of coverage
Mortgage Redemption:
It pays off a policy holder's mortgage in the event of the person's death
Credit Life Insurance:
Designed to pay the balance due on a loan, the borrower dies before the loan is repaid
Increasing Term Assurance
This plan provides a death benefit, which increases along with the term of the policy
Premium generally increases as the amount of coverage increases
Term Insurance with return of premium
This plan leaves the policy holder with the satisfaction that he/she has not lost anything in case he/she survives the term
The premium paid would be much higher than that applicable for an equivalent term assurance without return of premium
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