Life.Insurance123.co.za Committed To Consumer Education
Mendham, NJ 11/09 - Life.insurance123.co.za is completely committed to consumer education. Many people have no idea what sort of expenses and problems a family faces when someone passes away. This is especially true if that person is them main income earner for the family.
Teaching consumers about life insurance, the different types and how they pay, helps them to understand the basic need to have life insurance coverage to protect their families at a time when they need help the most.
Term life insurance is bought for a specific period of time and at a certain amount of coverage. If the owner dies any time during the term, his/her beneficiary, usually the spouse or a family member, will receive the full amount of the policy. This person can use the money to cover the cost of the funeral and provide support for the family until they are able to get back on their feet.
Whole life policies are bought with a specific payout in mind, but they provide limited benefits until enough has been paid in premiums and dividends to cover that amount. When that amount is reached, the policy is said to have matured. Whole life policies may be cashed out at anytime by the owner or used as collateral to support a loan. Only whole life policies actually build cash value over time.
For more information about the different types of life insurance available and why it is needed to help a family in their time of need, consumers can visit http://www.life.insurance123.co.za
Fax: +27 (0) 86 670 2485
Mobile: +27 (0) 83 324 9932
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