Term life insurance policy and coverage
Unlike whole life insurance policies, term life insurance policies provide life insurance coverage for a specific period of time. Term life insurance policy provides life insurance coverage for a period that is limited when compared to whole life insurance and universal insurance policies.
It provides this coverage at a fixed rate of premium payment which will guarantee life insurance cover for the insured for that period that the policy covers.
Within that period, death benefit which involves a lump sum is paid to the beneficiary of the insured in the event of death.
Need a reason to choose this policy?
Term life insurance policy is a flexible plan that gives you many options as discussed above. You can choose the time frame for your term life insurance policy.
If you have a young family, this policy can also be appealing to you because of its short term considerations. Also, it is more affordable compared to other insurance policies.
Contact ESI to get his term life insurance policy.
Our Term Life Insurance premiums are not taxable so that will keep accruing the more your pay your premiums. This ensures the safety and financial security of your insurance and it is the best guarantee that your beneficiaries will get a lump sum in the event of death. The lump sum of the death benefit to be paid to your dependents is tax-free.
The Term life insurance policy can allow a cash withdrawal based on your policy limit. The more you pay your premium the more your cash value builds up. One thing you should know about whole life insurance is that it has some benefit for you while alive. You can access a portion for your cash value within your policy limit to help you meet certain needs.
Owners of Term life insurance policies get dividends on their premiums. The dividend is accessible and can be reinvested in other insurance policies to ensure a holistic cover. Dividends are among the benefits of the whole life insurance policy.
Universal life insurance policy like all other life insurance policies provides a lump sum as compensation to the beneficiary of an insured person when they are no more. It is unique for having a special cash value package.
This involves the splitting of your premium into two parts designed to make you enjoy some value while alive and still have death benefit paid to your beneficiary when you are no more.
It meets your demand for a more flexible life insurance policy.
Life Insurance for you
As a flexible insurance policy, universal life insurance policy and coverage enable you to choose your payment terms. You can decide how much premium you will pay within a given period.
Another unique aspect of this universal life insurance policy is that there is room for savings and investment which will be accessible to you during your lifetime. It will be paid along with interest accrued on your savings. This cash value policy is a major feature of permanent life insurance policies like universal life insurance.