QEAB

QEAB

About electronics quality , EVM tampering

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Benefits of Life Insurance Life insurance is a policy that pays out a sum of money either on the death of a person or the end of the set period. In life insurance, the insurer agrees to pay a particular amount of money at the end of the month for agreed period of time. Below are some of the benefits of life insurance policy. We have life cover as the first benefit of life insurance. This is the primary benefit of life insurance policy. We can refer to life cover as the amount of money the insurance company pays you or your nominee on your absence. This is necessary as the insurance firm will make sure that your children do not suffer even in your absence. A person that you appoint during the time that you are purchasing life insurance cover to take the benefits in your absence is referred to as a nominee. The nominee will ensure that your children do not suffer in case anything happens to you. It is necessary that you buy a life cover that is enough to serve your children effectively. If possible you can even buy a life cover that is ten times your income. It is also beneficial since it is a long term saving. This is because it is a systematic way of saving money since you pay for it on monthly basis. This policy is beneficial because by the time you will be retiring you will have enough benefits for your plans. Apart from that you would have achieved your goal of saving money maybe for your son’s wedding or starting a business. To add on that you will also get double benefits protection as well as savings.
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Apart from that we also have life stage specific planning. This is because most of this insurance firms offer a product tailor made at specific life stages. This will enable you and your family to plan various goals at different life stages. For example, you can plan to buy a car, a house, a land, and educating your child, planning your wedding as well as saving money for your retirement.
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We also have a tax advantage as a benefit of life insurance. Most insurance firms are covered by the constitution to the sense that you will not be taxed when saving with them. Like you are not going to be taxed from your premiums which you are going to pay every month. And as your money grows you are also going to be entitled to earning benefits. Besides, you will be able to end your cover free of charge.