life insurance
Why You Need Life Insurance, Especially If Your Budget Is Tight?
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Life insurance is a crucial component of an expat's financial plan. It helps you protect loss of income, liabilities, important financial goals and dreams you may have for your loved ones.
Term Insurance is one of the popular forms of Life Insurance.
It is simple and the most affordable form of life insurance. It provides you with life cover for a definite number of years. Typically between 10 - 35 years.
The cover amount, term and premiums payable are fixed at the start of the policy.
You are covered until the end of the term, as long as you keep paying the premiums due. If you stop paying the premiums, the cover ceases after a certain grace period.
If you outlive your term insurance, then you don't get back any premiums you paid into the policy.
It is much similar to renting a house. You can live in it as long as you pay the rent agreed. If you stop paying rent, then you may be evicted. When you vacate the house, you don't get back the rent paid.
People buy term insurance for the following reasons;
The following life insurance companies offer term insurance;
As an unbiased and expert financial advisor, I can help you ascertain how much life cover you need, for how long you need it and what riders you should choose.
Arrange a Free Consultation to discuss your protection needs and, identify the best insurance plan.
Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours...
This Article was originally written by Melissa on https://www.biblemoneymatters.com/.
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