Question

Benefits enjoyed by a person who decides take out life assurance

Answer 1

• They are a form of saving by the insured, for future investments
• Premiums are payable over a specified period of time which can be determined to suit his/her needs e.g. retirement time
• Where the assured lives and time policy matures, he receives the value of sum assured. 
• Policy can be used as security for loans from financial institutions.

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