7 Benefits of Having Life Insurance

Death is inevitable and often comes unannounced. To secure your family’s future in the event of unfortunate death or critical illness, life insurance policy is important.

Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person. On the basis of your policy, events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expenses, can also be included in the benefits.

There are many advantages to buying life insurance. If you are thinking about getting life insurance then read the following benefits:

1. If your family rely on your income, then with life insurance policy they won’t suffer financially after your death.

2. You get peace of mind knowing that your family’s future is safe and secured.

3. It is easier to apply for life insurance and also it is not costly and available at affordable rates.

4. Life insurance death benefit is not taxable.

5. Depending on your life insurance policy, hospitalization expenses and critical illness treatment plan will also be covered.

6. You will have full flexibility in choosing your life insurance policy. You can choose a plan according to your need. More benefits are unlocked with a premium plan.

7. Many life insurance policies offer considerable return at the time of maturity or after the completion of the term.

If you are still confused & not having life insurance, then it is a good time to invest in it. Get the life insurance at an affordable rate from Discovery Insurance Services, Victoria, BC. Our experienced insurance brokers in Victoria will assist you & you will get every detail about the plan & its benefit.

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