 |  |  |
  |  |
| | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| lic home finance
| Nothing can insure you against death; you can only protect those who remain. The subject of life insurance is depressing enough for most people without analyzing what it really is. While most insurance coverages, like fire and auto, involve only a davy of loss, life insurance is a guaranteed payoff at some point. For starters, if you keep the policy long enough, your beneficiary is guaranteed to collect from the insurance company. The coverage pays upon death, not life. Prices are lower than they have ever been. Life insurance is also inexpensive for most consumers. Competition among life insurers is fierce and have driven prices, especially for term life, to very affordable prices for someone relatively young and healthy. Nearly everyone has some form of life insurance coverage and most people do not seem to mind purchasing it. After all, we all know what has to happen to collect on the policy. It didn't take brilliant marketing on the part of insurance companies to realize that you couldn't call it "death insurance." Too many negative connotations. The only exclusions in some states, like Virginia for example, are a two year incontestability and suicide clause. Mortality tables have been revised as people live longer. |