BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If you want a cash savings option.
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If you want to buy a new car.
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If you only want to cover a specific time frame.
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If you want to go on vacations.
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If you want a death benefit no matter what age.
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Detailed explanation-1: -Since permanent life insurance policies have much higher rates than term policies, and most financial obligations go away over time, term life insurance is typically the better option for most people.
Detailed explanation-2: -However, selecting the right amount of coverage is the most important task and must always be done carefully. You must always consider various factors like your age, earnings, profession, medical history, number of dependants, and average monthly expenses. Then, choose the term plan that can cover all these factors.
Detailed explanation-3: -Whole life provides many benefits compared to a term life policy: it is permanent, it has a cash value investment component, and it provides more ways to protect your family’s finances over the long term.