Does Term Life Insurance Pay After Death?
As with any death case, a well-planned financial tool called life insurance guarantees more than adequate protection for dependents in case the policyholder has died. The most highly in-demand forms of life insurance out of all existing ones have probably been Term Life Insurance for all these years simply because they incur a low premium and are easy form to fill. Nevertheless, one continues to ponder this question, still asking themselves does Term Life Insurance pay at the time of death? This would be valid only if the policyholder had kept the active policy in effect and also fulfilled all requirements given by the insurer to the insured. Understanding Term Life Insurance For instance, Term Life Insurance is designed to last for 10 years up to 30 years. It pays the amount as a lump sum to the named parties of the beneficiary only when the policyholder dies within that time. Such benefits can cover the funeral, pay for remaining debts and mortgage, and even give the family emotional...
