Life Assurance
Life assurance, life insurance, what difference does it make which one you take out, how much it costs or what kind of product you have – so long as you have cover. Or does it matter? Well, unless you happen to be one of the very few fortunate people in this world who does not have to worry about money, then, the answer is certainly yes.
Did you realize that with an online comparison you could find as many as ten different quotes by easily filling in a few really simple details, you can get quotes and find out how much you could save on life assurance?
Your answer will get back to you within record time, and who knows – this might be the beginnings of savings of up to 30%! Now who do you personally know who would say no to having extra cash in their pocket every month?
There are certainly some things you have to consider when looking at either swapping life assurance companies or taking out life assurance for the very first time ever. Always be honest when disclosing certain information, as you want your family to benefit after you are no longer here to take care of them. For example if you have a pre-existing heart condition and you do not disclose this to your insurer, you then die from a heart attack it is not guaranteed that your policy will be paid out for this condition.
Another important point to take into consideration when investing in life assurance, is always name a beneficiary.
The reasons are quite obvious, too. The monies will be paid to the beneficiaries you name within days of your death. You don’t want the money from your policy to go into your estate, as you never know how long it will to take to wind up an estate – some literally take years.
When you name a beneficiary on your life assurance policy, there are no executor’s fees if the monies are paid directly to the beneficiaries. The amount paid out might still be subjected to estate duty, so ensure that there are sufficient funds for this eventuality. It is imperative to get all this information in writing, especially the names specified as beneficiaries on the policy documentation.
