Top 3 Reasons to invest in Life Insurance
A life insurance policy is the single most important financial investment you will ever make.
It offers permanent protection for your family and peace of mind at a moderate initial cost to provide coverage should your health deteriorate or if you pass away prematurely.
Life insurance terminates income protection insurance,
provides long-term care protection,
protects pension funds and provides capital sum.
What is life insurance
Life insurance coverage can be defined as financial protection against the chances of your death. They work to provide your dependents with relief from money worries during any period of time after you die from natural causes such as accidents. This also includes to cover funeral costs, unpaid health care bills and other added expenses that arise due to an unfortunate incident such as death. Some show or limit for this type of insurance may be pre-determined through formal legislation (ex: state law). Others have options which determine the maximum amount offered under a certain set expense
Types of life insurance
There are many different life insurance types to choose from, each with its own set of strengths and weaknesses. However, one universal rule is that everyone needs to have a life insurance policy of some kind.
• Term life- It protects you for a fixed amount of time but there is no cash value unless you pay an extra premium start date.
• Decreasing Term- It provides lifetime protection that decreases as it approaches the end date making premiums cheaper than a total coverage term policy.
• Joint Life/Multiple lives- Provides coverage only until the first person dies and proceeds to the insured's designated beneficiary.
• Universal Life- This policy continues after death and pays cash value from its maturity until terminated.
Long Term Care Insurance - LTC
AIA LTC insurance provides peace of mind to over 500,000 customers by relieving up to 75% of their day-to-day caregiving obligations.
Financing: AIA works with Accenture Finance and can integrate the choice for your LTC insurance in planning out your future.
Benefits:AIA LTC insurance delivers broad protection for all illnesses, injury and advanced age when you require assistance with bathing, dressing, dressing or even having control of your bowels or bladder.
AIA offers various plans and choices plus benefits to protect your loved ones from shouldering the burden of caregiving. It also offers more in-home coverage including increased visitation hours to provide better care for people who are bedridden by illness or injury residing at home in a family setting.There is also a Priority Benefit option for safeguarding survivors.
