A life insurance is like something that is offered for everyone except to the person who has disabilities and diseases. There is no age limit for getting a life insurance policy. Even a new born baby in this world can be offered or can be given a new life insurance policy. Life insurance indicates that, if any person of the family who has insured his/her life dies, then the entire money said in the insurance policy will be given to that person’s family. This policy has an agreed amount to be paid by the person, who has insured, to the insurance company. If nothing happens to the person insured with them, within that particular agreed period of time, then the insurance company will completely settle the entire amount paid by that person, to the same person or to his/her family. The age limit for getting insured starts from 1year and above. The premium has to be paid to the insurance company as agreed by them such as yearly, half-yearly, quarterly or monthly.
- Is there a time limit on when a life insurance policy can be cashed in?
- Why do I keep getting rejected for life insurance if I have a pre-existing condition?
- Can funeral expenses be deducted from a life insurance policy before the beneficiary is paid?
- What are the different types of life insurance?
- Is it possible to find out if a life insurace policy was in effect for someone who died?