Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. There may be designs in some instances where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium.
The value for the policy holder is derived, not from an actual claim event, rather it is the value derived from the 'peace of mind' experienced by the policy holder, due to the negating of adverse financial consequences caused by the death of the Life Assured.
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide, fraud, war, riot and civil commotion.
Life insurance is as important as car or home insurance, in fact - more important! Get complete peace of mind and know that your family will be looked after should an unfortunate event occur. Let easysure assist you in getting the best policy for your needs.