| If we count our possessions to assess our most | | | | the payments remain the same without any |
| important assets, our lives would always rank at | | | | worry of hikes for a a fixed term. And this is |
| the highest. It thus makes perfect sense to give | | | | where the policy derives its name from. The |
| it the protection it deserves with a life insurance | | | | fixed payment for fixed term helps you to |
| policy. It is a popular policy as it is, in the UK. It is | | | | calculate your payments till the term applies. |
| a positive sign that more and more people are | | | | However, as soon as the term expires which is |
| getting down to understand its benefits and apply | | | | generally to the tune of fifteen years, the validity |
| with the many convenient means and resources | | | | of the policy is over and no insurance claims can |
| available these days. There are two main types | | | | be entertained thereafter. 2. Whole Life Insurance: |
| of life insurance policies: 1. Level Term Life | | | | This may prove to be a better deal if you're |
| Insurance Being the cheapest form of insurance, it | | | | thinking from a long-term perspective, although |
| is also perhaps the most preferred one. In the | | | | the premium may be on the higher side. This |
| event of your death, your family or your | | | | policy has no fixed period and is applicable for |
| dependants or beneficiaries, as who you name in | | | | insurance claims anytime no matter when the |
| the policy, shall be eligible to receive a lump sum | | | | insured person's life ends. So this policy, as the |
| amount upon claim. With not much to spend thus | | | | name suggests, works for your whole life and |
| on high premiums, you can have the peace of | | | | guarantees a payout when you die. Apart from |
| mind that an insurance policy brings to you. | | | | availing to these two major kind of life insurance |
| Although this policy is applicable only in case of | | | | policies, you can also go for add-ons like critical |
| death of the holder during the term of the policy, | | | | illness cover. |