by sandygill » Fri Dec 28, 2012 08:25 am
Life insurance is a good idea for many different groups of people, including family members. Purchasing a family life insurance policy will ensure that not just one member is covered but the entire family is protected as well.
Posted: Fri Dec 28, 2012 01:15 pm Post Subject:
A life insurance is more helpful for the beneficiary than the insured himself. It works as a income replacement option, after the death of the insured, in case the insured had been an earning member of the family. The death benefits are income-tax free. Permanent life insurance policies come with the cash value advantage.
Posted: Sun Dec 30, 2012 06:56 am Post Subject:
the cash value advantage
This is not anything special. It is simply a "nonforfeiture" option required by law, and means the insurance company cannot necessarily keep all your money if you choose to terminate the policy before the insured dies, but surrender charges will have an adverse effect on the available cash value. It is of no benefit whatsoever to the beneficiary.
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