The common practice in most countries is to bring bundled products to market as savings products. This is a unique aspect of modern insurance practices where part of the premium paid by the insurer is invested to create monetary values. The disadvantage of this practice is that the premiums invested are exposed to investment risk. Unlike a savings deposit, the guaranteed cash value may be less than the total amount of the premium. In a world run by money, everyone wants financial freedom. Who does not but we all need financial security. Most people remember this important aspect of financial knowledge.
They invest everything and risk everything to gain more, but in the end they lose most, if not all, it is a deadly formula. The best way is to take part of your money and invest in financial security and then take the rest of it and invest in financial freedom. A survey shows that 45% of British men and 38% of women are insured for life coverage. Again, both percentages are very low. Furthermore, women who do not earn in the same year do not feel the urgent need for insurance. Cancer research says that more than 130 women die every day from breast cancer.
With the increasing number of women’s health issues, women should not have them without life insurance cover. Again, one in three people is likely to suffer from a serious illness. In this way, life insurance is important for both men and women. Ignoring life insurance coverage can be fatal as your family will be left with many financial burdens. Mortgages are common in the UK. Those with a mortgage should go to cover life, in the event of their accidental death, the insurance company will pay the remaining mortgage amount.
The facts do not indicate any such awareness in the British. According to statistics, about 50% of people have a mortgage with no associated life coverage. All these facts and figures highlight the importance of life insurance. Whether it is a current mortgage, critical illness or death, Life Cover helps the beneficiaries to manage the economic situation easily and comfortably.