Did you know that their are 4 types of term
insurance policy?
Did you know that term only charges you for the cost of insurance, which is
what you should buy if you need a cover to protect your family?
Did you know that the Pure term plan is the
simplest and cheapest of all, and this one pays a fixed sum assured on the
death of the policyholder?
Did you know that with a Pure term policy if the policyholder survives the
term, he gets back nothing?
Did you know that the premium on term plans depends on three
factors: age, term of the policy and the sum assured you choose?
Did you know that as
term plans are the cheapest insurance product you get a further
discount by buying them online?
Did you know that a Return of premium plan promise a
return of premium?
Did you know that the policyholder gets the return of premium at the
end of the term, but if he dies mid way, the nominee gets the sum
assured?
Did you know that a Decreasing plan is popular with mortgage
products, the sum assured in this plan decreases every year, as does
your outstanding loan amount?
Did you know that a Decreasing plan premiums on these plans are lower than
that of a level term plan since every year the sum assured decreases?
Did you know that a
Increasing plan is the opposite of a
decreasing plan?
Did you know that with a Increasing Plan the amount of cover increases by about 5% every
year until your sum assured increase by 50% or doubles up in value?
Did you know that a Convertible plan combines the benefits of a term plan with a savings plan?
Now if you didn't know, now you know...
To see more did you know that trivia
click here
