Life insurance coverage is one of those products where you, as the insured, buy the policy but don't gain any direct personal reward. Having said that, it often is the sole asset left to a widow or other loved ones on the death of the insured. The subscription to the policy and the month to month premium to be paid for is, therefore, an act of love and consideration.
Life insurance as a product has seen a significant evolution within the last 20 years or so. It has developed from a simple single advantage policy to a multi choice option driven policy variety. The product evolution is the consequence of a changing world, offering more challenges during life than mere death at the end thereof. Many of these additions as options to life plans are the result of change in lifestyle and economical challenges which have developed with time. The term 'job security' is fast disappearing making way for 'contracts' 'temporary positions' and 'retrenchments' as the new age buzz words within the employment scenario. This is mainly caused by an uncertain world wide economy with many nations facing total economic failures notably a few that belong to the European Union, which is South Africa's primary export market. Reduced exports and payment issues have caused a slump in local development and have lead to major layoffs of employees.
This has created a new market in the insurance marketplace and a life insurance add-on of 'loss of income' insurance cover was borne. Changing standards of living also created new insurance coverage opportunities: heart related illnesses, diabetic issues, strokes, HIV Aids and other conditions are identified by the insurance industry as life-threatening conditions or at best as situations resulting in temporary not being able to work and developed policies to take care of such situations. "No work, no pay" says the old saying, so again the insurance market recognised the fact that the average joe has a bond and a car and a swimming pool area to be repaid, and designed a product that will pay your debts for an agreed time period should you be disabled through illness or losing your job. Life insurance, as a product or service, thus came a long way to catering for the needs of modern man.
Life insurance solutions take care of most life situations and it is best if you revise your policy selection from time to assess the current validity thereof and make the required adjustments. Life policies may also be added to, so if the initial payout amount in modern terms seems inadequate, you can augment that policy with yet another, thereby enhancing the insured amount, although the premium on such new policy may well be affected by your age and other factors. The entry requirements on policies also seem to be more flexible on life insurance these days and long waiting periods and strict health demands seem to have abated. Entry conditions now seem to be much more accommodating and insurance policies can even be concluded on the internet - easier than that is not achievable.
For more information about health care insurance, go to our website, https://www.instantlife.co.za
Life insurance as a product has seen a significant evolution within the last 20 years or so. It has developed from a simple single advantage policy to a multi choice option driven policy variety. The product evolution is the consequence of a changing world, offering more challenges during life than mere death at the end thereof. Many of these additions as options to life plans are the result of change in lifestyle and economical challenges which have developed with time. The term 'job security' is fast disappearing making way for 'contracts' 'temporary positions' and 'retrenchments' as the new age buzz words within the employment scenario. This is mainly caused by an uncertain world wide economy with many nations facing total economic failures notably a few that belong to the European Union, which is South Africa's primary export market. Reduced exports and payment issues have caused a slump in local development and have lead to major layoffs of employees.
This has created a new market in the insurance marketplace and a life insurance add-on of 'loss of income' insurance cover was borne. Changing standards of living also created new insurance coverage opportunities: heart related illnesses, diabetic issues, strokes, HIV Aids and other conditions are identified by the insurance industry as life-threatening conditions or at best as situations resulting in temporary not being able to work and developed policies to take care of such situations. "No work, no pay" says the old saying, so again the insurance market recognised the fact that the average joe has a bond and a car and a swimming pool area to be repaid, and designed a product that will pay your debts for an agreed time period should you be disabled through illness or losing your job. Life insurance, as a product or service, thus came a long way to catering for the needs of modern man.
Life insurance solutions take care of most life situations and it is best if you revise your policy selection from time to assess the current validity thereof and make the required adjustments. Life policies may also be added to, so if the initial payout amount in modern terms seems inadequate, you can augment that policy with yet another, thereby enhancing the insured amount, although the premium on such new policy may well be affected by your age and other factors. The entry requirements on policies also seem to be more flexible on life insurance these days and long waiting periods and strict health demands seem to have abated. Entry conditions now seem to be much more accommodating and insurance policies can even be concluded on the internet - easier than that is not achievable.
For more information about health care insurance, go to our website, https://www.instantlife.co.za
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