Find the Best Life Insurance Comparison Policies

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Life Insurance Comparison
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Life Insurance Comparison - A Straightforward
Concept

• Life Insurance comparison is a much
  straightforward concept you basically buy a
  policy that offers your beneficiary or
  beneficiarys compensation when you are no more.
• You need to have thorough knowledge about life
  insurance to be able to take a well-informed
  decision about the type of life insurance policy
  that will be best suited for your unique needs,
  the amount of death benefit that you should opt
  for, etc.

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Since human life is very precious, you get
financially as well as emotionally disturbed when
you lose a family member

• In such challenging circumstances, life insurance
  policies offer the much-needed financial peace to
  your family in your absence.
• It provides them a lump sum or pay outs in
  installments, as mutually decided between you and
  your insurance company at the time of signing the
  policy.

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This ensures your family a reliable and stable
source of income for meeting basic needs like
childs education, daily expenses, unpaid bank
loans or debts (if any), etc

• This will help you opt for a life insurance
  policy that is the best suited to you needs from
  a reliable insurance company.

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Here is the process in which a life insurance
policy works

• Premium and lump sum payments
• Claim settlement
• Reasons for delay/rejection in claim settlement
• Loan against policy on hospitalization or
  critical illnesses

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Premium and lump sum payments

• Timely payments of the pre-determined premium, as
  mutually decided between the policyholder and the
  insurance company.
• Premium payments throughout the policy tenure
  ensure that the policyholders beneficiary/benefic
  iaries will receive the pre-decided lump sum from
  the insurance company in the event of his/her
  unforeseen demise.
• Instead of a lump sum, the policyholder can opt
  for a lump sum to be paid in the form of
  installments to the beneficiary/beneficiaries
  after his/her sudden death.

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Claim settlement

• After the death of the policyholder, the
  beneficiary or a relative of the deceased has to
  get in touch with the insurance company to
  initiate the claim settlement process.
• Though there is no fixed tenure for completing
  the process, insurance companies make an effort
  to expedite the process to avoid having to pay
  hefty rates of interest on late payment of the
  sum assured.
• The entire claim settlement process usually takes
  one to two months or even less.

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Reasons for delay/rejection in claim settlement

• There may be certain instances that may cause
  delay in the claim settlement procedure.
• Causes of death from suicide within two years of
  opting for a life insurance policy leads to claim
  rejection.
• Death due to the factors or medical and health
  conditions excluded in the policy in Life
  Insurance comparison.

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Loan against policy on hospitalization or
critical illnesses

• Some insurance companies offer the option of
  withdrawing cash against the life insurance
  policy for emergencies like treatment of critical
  illnesses and emergency hospitalization.
• Policyholders can take a loan by submitting the
  necessary documents along with a letter that
  specifies the reason behind opting for a loan.

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WEBSITE

• https//www.beeinsured.co.uk/
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• https//twitter.com/BeeInsuredUK