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When is Life Insurance Unnecessary?

There are various situations when having a life insurance policy is necessary. Life insurance is a way to ensure, while you are alive, that your loved ones are not faced with financial problems once you are gone. It is a safeguard for the loss of your income to the family budget. The idea is to ease at least the monetary burden on your family in their time of grief.
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Do You Need to Specify your Life Policy in your Will?

Life insurance is an arrangement between you and your insurance company that if anything happens to you, they will pay your beneficiary a certain sum of money. This payment is made on the basis of the plan you have purchased from them and the amount of premiums you pay to them on a timed basis.
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Keyman Life Insurance Explained

What is Keyman Life Insurance?

Keyman life insurance is a type of life insurance. It is taken out by a company to safeguard its interest in case of death, disability or critical illness of an employee whose contribution to the company is important. This policy is generally a term policy. The company can suffer major losses if the key personnel in its employ are unable to work. Through this insurance the company is assured of financial protection against loss.
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A List of Life Insurance Providers in South Africa

Of the various types of insurance policies that a person can buy in South Africa, the most important is life insurance simply because of what it protects. Insurance companies in South Africa number in the hundreds. In fact, there are always new insurance companies sprouting up every day in the nation.
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The Importance of Specifying your Policy Beneficiaries

One of the most important things you could do for your loved ones is to ensure that they remain financially secure. If your family is dependent on your income, that makes your responsibilities even greater. You now need to ensure that they have financial security even when you are not there to earn.
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How are life insurance claims processed?

The last thing on your mind when a loved one passes away is dealing with paper work. However, when it comes to insurance claims, the sooner you get the process started the better chance you have of getting your claim approved. While it may not be possible for you to put the claims documents in immediately it is a good idea to at least inform the company informally. Also, keep a record of the contact with you.
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What Happens if Your Policy Lapses?

Life insurance is a contract that indemnifies your life against accidental or natural death. This is a binding contract between the insurance company and the insured person. With this contract, the company agrees to pay a predetermined sum of money to the beneficiaries specified in the contract. The aim of life insurance is to allow continuity of financial support that you would otherwise have provided to your family.
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Can You Have More than One Life Insurance Policy?

Life insurance is one of the most responsible things you can do for your family’s benefit. This ensures that your family’s financial health remains stable even after you are no longer there to provide for them. Before you buy yourself an insurance policy, however, it is important that you determine if it provides enough cover for your family’s needs.
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When is Life Insurance Necessary?

Life insurance is an investment towards the contingency of death. The insurance company agrees to pay your beneficiary a certain pre-determined sum of money at the time of your demise. This money could be paid in a lump sum or installment, depending on the contract.
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The Importance of Reassessing Your Needs Regularly

Life insurance policies have gained importance in the ever changing world of today. With newer insurance companies emerging in the market, an individual also has a large number of choices for policies. Further, each company has various plans to choose from, which makes it doubly varied. From these options, it is the task of the individual to opt for one that best suit his/her needs.
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