Life insurance has become a necessity in today’s world. It is probably the best way in which you can secure your family if something happens to you. Your family members can use the proceeds from your policy to pay off your debts and liabilities or use them for their expenses. However, before you start looking at Life insurance policies, there are some life insurance terms that you need to know. We make you aware of the necessary insurance terminology that you are likely to come across in the policy document. Knowing them will help you make an informed decision.
1. Accident
An unforeseen event that can injure, harm or cause death to the policyholder
2. Age limit
3. Agent
4. Beneficiary
5. Coverage
6. Exclusions
7. Maturity date
