Anyone with advice on life insurance, death and dying?
| Author | Message |
|---|---|
|
Written on: 10.11.2009 [11:40]
|
|
|
Hedges
Hedges
Topic creator
Posts: 3
|
I hear that some life insurance policies pay out on death while others pay out when you know you're dying. Does the 'life insurance death' scenario versus the 'life insurance dying' scenario affect the amount you / your family actually receive? |
|
Written on: 01.12.2009 [15:30]
|
|
|
Tej
Tej
Posts: 1
|
When you purchase life insurance you should have the terms of your insurance payout explained to you: assuming this is a hypothetical question and not related to your own insurance, some policies will only pay out on death, while others pay out when you are terminally ill. The amount they pay out is the same, at least to the best of my knowledge. If it wasn't, presumably everyone would opt for the better option. You can choose to receive the payout in different ways however; some take it as a lump sum while others choose to have it paid out in installments. Which of these you choose usually depends on your family and what you think will prove the most helpful for them. |
| Also very interesting: | |
