Life insurance advice
Life insurance is a type of risk cover or insurance policy that pays a benefit to your beneficiaries such as your family in the event of death. However, the terms of different life insurance policies vary and it is important to take advice. For instance, some life insurance policies will pay the insurer prior to death if it is the right kind of policy.
There are insurance policies that pay the insured up to 12 or 24 months prior to death on the diagnosis of a terminal illness. Although this is an unpleasant subject and perhaps macabre, having the right life insurance in place can make all the difference.
While in its strictest sense, life insurance refers to the cover of a person or insured in the event of death or upon being diagnosed with a terminal illness, and in the latter case the policy benefit may be paid within 12 or 24 months of expected death if that term is included in the policy at inception.
However, life insurance or insurance advice are terms that usually incorporate the consideration of other types of policies, which are sometimes collectively referred to as disability insurance such as Total and Permanent Disability (TPD), Income Protection (IP) and Trauma.
