With a standard term life insurance policy, it is seen that the death benefit of the policy remains the same throughout its tenure. For example, if the cover is for 500,000 GBP at inception of the policy, irrespective of the occurrence of death - the very next year or just before the term ends.
With a standard term life insurance policy, it is seen that the death benefit of the policy remains the same throughout its tenure. For example, if the cover is for 500,000 GBP at inception of the policy, irrespective of the occurrence of death - the very next year or just before the term ends - results in the nominee receiving the same death benefit. The premium remains the same.
