Life insurance plays a significant role in the lives of innumerable people, especially in those people’s lives who have lost their breadwinner. Added to it, this also means it is a lifesaver for the loved ones of the policy holder.
Today, many individuals look up to this policy, so as to give their loved ones a secure future in case of their demise or even at times of prematurity, accidental and sickness. To attain its benefits, policyholder has to pay premiums as per the given time of the policy.
However, before granting insurance, companies do check the health of the insurer. This is because many companies generally hesitate to grant insurance to those people who are prone to diabetes, cancer, or any other health problem. Even if such people are granted policies, then they have to give double or triple the premiums that are being given by the non-smokers, non-diabetics and non-drinkers etc.
To buy such policy, one needs to contact a New York Insurance Company, which is reliable, trustworthy and reputed.
There are various types of life insurance that one can choose according to their needs. Mentioned below is the detailed description about each one of them:
Term policy
In this policy, the insured amount will be paid to the policy holder family, if he or she dies within the time period of policy. For example, a person who has taken policy of 1000000 for 20 years, and if he dies within this given time then only his family will get the required some of money and, if he survives then he or his family won’t get a single penny.
Whole life policy
As the name suggests, the person taking up this policy has to pay premiums till his death. This is why it is not preferred much by people.
Endowment policy
This is the most preferred and favorable type of policy amongst all the other insurances. A periodic premium is needed to be paid by the insurer and lump sum is received either by the family after the demise of the insurer, or it is received by the holder itself, if he does not die.
Group policy
In this policy, a group of people are insured. This type of insurance is mainly feasible for the employees of a company.
Money back policy
At time of marriage or education, when a huge sum of amount is required, this policy proves to be quite beneficial because money will be easily given to the insurer at the time of expiry or at the time when policy holder dies.
After reading all the types of life insurance; get any one of these for your loved ones from a reliable New York Insurance Company.
Today, many individuals look up to this policy, so as to give their loved ones a secure future in case of their demise or even at times of prematurity, accidental and sickness. To attain its benefits, policyholder has to pay premiums as per the given time of the policy.
However, before granting insurance, companies do check the health of the insurer. This is because many companies generally hesitate to grant insurance to those people who are prone to diabetes, cancer, or any other health problem. Even if such people are granted policies, then they have to give double or triple the premiums that are being given by the non-smokers, non-diabetics and non-drinkers etc.
To buy such policy, one needs to contact a New York Insurance Company, which is reliable, trustworthy and reputed.
There are various types of life insurance that one can choose according to their needs. Mentioned below is the detailed description about each one of them:
Term policy
In this policy, the insured amount will be paid to the policy holder family, if he or she dies within the time period of policy. For example, a person who has taken policy of 1000000 for 20 years, and if he dies within this given time then only his family will get the required some of money and, if he survives then he or his family won’t get a single penny.
Whole life policy
As the name suggests, the person taking up this policy has to pay premiums till his death. This is why it is not preferred much by people.
Endowment policy
This is the most preferred and favorable type of policy amongst all the other insurances. A periodic premium is needed to be paid by the insurer and lump sum is received either by the family after the demise of the insurer, or it is received by the holder itself, if he does not die.
Group policy
In this policy, a group of people are insured. This type of insurance is mainly feasible for the employees of a company.
Money back policy
At time of marriage or education, when a huge sum of amount is required, this policy proves to be quite beneficial because money will be easily given to the insurer at the time of expiry or at the time when policy holder dies.
After reading all the types of life insurance; get any one of these for your loved ones from a reliable New York Insurance Company.
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