The goal when you take out a Phoenix life insurance policy is to provide financial security for your loved ones in the event of your death. That usually includes your husband or wife and any children you have designated as beneficiaries. It is important to keep Phoenix advised of changes to your designated beneficiaries to prevent complications at a later date.
Funerals and cremations costs become more expensive every year. At a time when families are devastated by the loss of a loved one, they do not need the additional stress of worrying about how they pay for the funeral. Unless you have taken steps to pre-pay your own funeral, your family may struggle to meet the financial burden. You can help to reduce that burden by planning ahead and ensuring that your insurance policy will cover the costs of your funeral and more.
Uou are never too young to purchase a life insurance policy. In fact, many parents see insurance as an investment for their child's future and take out some form of insurance for them soon after they are born. It is a sad fact that many people do die much younger than they should often due to accidents or an illness which does not respond to treatment.
The older you are when you take out this type of policy, the higher your premiums are likely to be. Depending on your general health over the years, you may find that you have developed a medical condition which at worst may exclude you from obtaining this type of cover. At best, your premiums will be much higher. Your insurance professional will be in a position to provide you with a detailed list of conditions that may or may not affect your life insurance cover.
Many employers provide this type of cover for their employees, which is undeniably a good employee benefit. However, that policy is only valid as long as you are in that employment. If you frequently change jobs and your new employer does not provide cover, you have no life insurance at all. The same applies once you reach retirement age. The policy expires.
If the worst were to happen and you were to be involved in a fatal accident within hours of leaving your employment, your spouse and dependents would have no claim on the employers insurance. Taking out your own life insurance policy in addition to any employers policy is the only way to ensure your family's financial security is taken care off.
Strange as it may seem the nature of your employment may also affect your payment levels. If your employment falls into a high-risk category, premium levels go up to compensate for the potential risk. Again, it would be wise to discuss this in details with your insurance adviser who can provide you with information on which jobs fall into a high-risk category.
Phoenix life insurance experts work with clients to ensure they have the right insurance package to meet their current and future needs. You will receive impartial expert advice on many insurance products. This is to help you make an informed choice about what you need.