Endowment Policy

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Endowment Policy
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The Importance of Life Insurance for Over 50s
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• Life insurance provides beneficiaries with cash
  in the event of the policyholder's death.
  Therefore, buying a life insurance policy offers
  a sound way of ensuring the financial needs of
  the loved ones are met. Normally, Endowment
  Policy shoppers struggle in determining the right
  coverage that meets their needs. It is important
  to understand that a person's insurance needs
  will vary throughout the years, hence determining
  the amount of coverage and the type of coverage
  to apply for may prove difficult. Depending with
  the type of insurance policy you choose,
  insurance can be cheap. Therefore, there is no
  reason why you cannot purchase coverage today.
  Over the years, you will find comfort in the
  knowledge that money will be channeled to protect
  dependents in the event of death. The importance
  of the life insurance for over 50s includes

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• Protect loved ones
• In case you have dependents who rely on your
  financial support, it is important to take-up an
  insurance policy. The insurance will be able to
  replace your income in case you die. Therefore,
  life insurance is recommended for a couple who is
  likely to find difficulty when their partner's
  source of income is no longer available. Life
  insurance is also recommended for parents with
  young children. Money will be provided to cater
  for costs of hiring helping hand to undertake
  daily household tasks that any growing family
  needs, such as cleaning, childcare, cooking and
  laundry.

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• Pay off expenses including debt
• In addition to offering income that caters for
  everyday living expenses, the family needs an
  insurance policy to cover outstanding debts, like
  car loans, credit cards and mortgage. Other
  expenses likely to be covered by the life
  insurance policy include hospital and burial
  costs- which are likely to run into thousands of
  dollars. The right policy will get rid of the
  financial burden likely to be borne by the loved
  ones who include parents, spouse and children.

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• Leave an inheritance
• In case you do not have many assets to pass on to
  your heirs, the right Endowment Policy will be in
  a position to create an inheritance to the named
  beneficiaries. This offers a great way for
  setting up the children for a solid future by
  providing any monetary needs likely to arise.
• Source-http//bit.ly/2nS8GZY

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