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Saturday, June 06, 2009

About Life Insurances...

I think that the best way to show your love for somebody you care is to make a life insurance and declare her or him as beneficiary.
I made one long ago and since then I am in very good health.
That is also the other side I see it, usually things happen when you are not prepared for them...
Besides the joke, assuring your dear ones that they will have a sum to go on even if you die is, in my opinion, the best investment for your money.
There are three types of life insurance, the Term Insurance, which usually is cheaper and lasts a set number of years.
If you die in the meantime, the death benefit you have selected will be paid to the beneficiary or beneficiaries of the policy.
If you choose the life insurance as some sort of investment, then the second type, Return of Premium term insurance should be your choice.
With this solution, at the end of the term period, the policyholder gets back all of the premiums paid into the policy.
The third type goes under the name of permanent life insurance, with this, you will be covered for the rest of your life.
With this death benefits and premiums are fixed for the life of the policy.
It works as a cash account, which acts like your own bank account but for insurance.
It pays an interest and the account increases .
If you want to know more you can read about in life insurance comparison.
By the way, in spite of the fact that the term life insurance was cheaper, I choose the second type and it proved to be a good decision.
In this time of financial disasters I am sure I will get all my money back when the term expires.
I still have ten years to go and I cross my fingers...
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