We all talk about life assurance, but does everybody understand what it means? And do you know how it can help you and your family? Is it something you need or just a ‘nice to have’ option?
What is life assurance?
If you have a life assurance policy, you have a policy with an insurance company which will pay out in the event of the death of the insured person.
This person need not be you. You can take out life assurance on your own life or the life of other individuals, such as your spouse or business partner, provided you can show that there is a financial relationship between you.
If you have a joint life first-death policy, this pays out on the first death of one of the lives assured. A joint life last-survivor policy pays out on the death of the last of the lives assured.
There are a number of options to consider with a life assurance policy and, in general, the younger you are when you take out the policy, the lower the premiums will be. So if you are considering life assurance, it is better to start a policy as soon as possible.
Why not get in touch with the team at Hartsfield to see how we can help you decide which option is best for you.
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