Life Insurance Available With Tax Relief.
Anybody who's ever worked hard to provide for themselves and their family should always have some type of life insurance. The thing is, when it comes to choosing the right policy for your needs, you can easily get lost in the many different types of coverage that are available. Because it's important to find a plan that best suits your individual situation and financial goals, we've put together this post which explains some of these different types so that you're better informed when making a decision.
Term Life Insurance: Similar to a fire insurance policy, term life is the most basic form of coverage, and all you really need if you're seeking protection against unexpected events. Term life insurance usually costs less than other policies because it's more limited. It covers you for a specific period of time, or "term," and pays out only on the death of an insured individual. If you pass away during this period, your beneficiaries will be paid out. However, if you make it through the term without dying, your policy will simply expire and there will be no benefits paid out to your loved ones in the event that something happens to you in the future.
Whole Life: When you compare whole life insurance to term policies, you'll notice that it's a lot more expensive. If the cost is too much for your budget, the best way to avoid overspending is by understanding that this policy is a permanent solution for life. That means that if you opt for whole life, it will cover you and your family's needs throughout your lives (as long as premiums are paid out) while also offering some additional benefits like tax-free cash value growth. Because of this, it's always wise to get opinions from experts before making a decision on such an important purchase.
Universal Life: Universal life insurance essentially combines the features of term and whole policies. You'll get benefits that are similar to those of a term policy, like the ability to name beneficiaries and a guaranteed cash value. On the other hand, you'll also get some of the benefits you would receive with a whole life policy like tax-free cash accumulation and flexible premium payments. As you can see, universal life contains many aspects of other policies which is why it's often thought of as a "hybrid" type of insurance.
Natural Life: If there's anything that can be said about natural life insurance, it's that it is highly complex and takes into account more factors than any other policy. If your goal is to avoid being overwhelmed with details, this probably isn't for you because its main advantage is its flexibility. Instead of choosing a term or fixed amount of years, natural life insurance is typically purchased for an eternity. That means it's always there to protect your loved ones in the event that something unfortunate happens to you.
If you're looking for assistance in finding the right type of life insurance, we've found that going straight to an expert is often the best solution and we'd be happy to help. Contact us at IGO Insurance Brokers Limited, 11/F D2 Place Metro Mall, 68 Tung Lo Wan Road, Kowloon Tong on 2889 2222 today.
Category: Insurance Post navigation
Share this: Tweet
Print
Related Posts: Insurance Coverage For Your Business Insurance Coverage For Your Home How Will Life Insurance Help Me? Why Buy Life Insurance? Importance Of Proper Travel Insurance Life Insurance For Seniors 11 Best Travel Insurance Companies In Hong Kong How To Get The Best Travel Insurance Get The Best Motorcycle Insurance Policy « » Leave a Reply Cancel reply Your email address will not be published. Required fields are marked * Specify your selection.
Your Name *
Your Email *
City and Country *
Please leave this field blank:
I understand that IOG Ltd. has its own terms and conditions for advertising on its website. Please Read Before You Purchase. These include information about the company, general privacy practices, refunds, response to claims, insurance product information and our privacy policy or contact us if you have any questions or would like further information on the policies covered below.
Privacy Policy IOG Ltd. respects your right to online privacy and committed to preventing identity theft, fraud and other criminal activities while improving the safety of products and services available on our website. In order to provide a secure and safe environment for Internet users, we will collect personal identification information from users when they communicate with us via our website. We also use the information we collect to send promotional materials for IGO Insurance Brokers Limited products/services or for special offers for other financial products or services we believe may be of interest to you. By registering on this site, you are consenting to receive periodic emails, including advertising & promotional emails. You may opt-out at any time by sending an email to us at [email protected] Links to 3rd Party Websites
IGO Insurance Brokers Limited's website may contain links to third party websites that are not affiliated with IGO Insurance Brokers Limited. IGO Insurance Brokers Limited is not responsible for the privacy practices or the content of such websites. Cookies and Web Beacons
This site may use cookies, web beacons, pixel tags and other storage devices used to collect non-personal identification information from visitors to our site. This information allows us to improve our marketing efforts, help us deliver a better website experience for you and allows us to statistically monitor how many individuals view our pages. For more information about "cookies", please visit: http://www.allaboutcookies.org/ Third Party Cookies
We use advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here. Security
IGO Insurance Brokers Limited is committed to keeping your personal data secure and confidential.
Conclusion
Life insurance can be a smart addition to your financial strategy when you first buy your home. To make the best decision for you and your family, take some time to read over the options and decide which one gives you the most peace of mind. If you need any assistance in making this decision, IGO Insurance Brokers Limited would be glad to help, give us a call at 2889 2222 or contact us online.
Please Share
Tweet
What is Life Insurance? A Guide For You How Much Life Insurance Do I Need? 4 Types of Life... What is Life Insurance? A Guide For You Importance Of Proper Travel Insuran... Why Buy Life Insurance? 11 Best Travel Insurance Cos...