Life Insurance Benefits

The various benefits of life insurance are usually held to be:

• The security that it affords to individuals with young families or other dependents is often put forward as the key life insurance benefit. The question of whether these people could survive financially after the policyholder’s death should be of key importance here.
• Most life insurance policies will offer consumers a number of ways to make the policy suit their specific needs. Most policies will allow for: (a) The lifespan of the policy to be chosen at the outset (b) The amount of cover provided to be chosen and, if necessary, fixed
• Life insurance policies can be written in trust so on death the moneys paid can be paid out directly to beneficiaries.