There are several types of Living benefits life insurance products that would each have different benefits. The types of life insurance are intended to serve various needs, abilities, and purchasing power.

Term Life Insurance
Term life insurance function is to provide protection to the insured within a limited period only. Life insurance is usually offered a contract for 5, 10, or 20 years, with a fixed premium, and cost accounting.

It is recommended selecting this type of life insurance if you put your family’s future, especially the education of children. Suitable for those who have a need for large insurance costs but have limited financial capabilities. If you choose this life insurance, some benefits that you can get are:
You as the policyholder get freedom in determining the amount of the premium according to your ability. Insurance money that you can get as a policyholder could reach a lot of money. That is, if the insured died during the contract period is still active, then the family of the insured will get a sizable sum.

While the shortage of this type of life insurance is:
Insured could lose the premiums that have been paid or forfeited premium once the contract is completed, if not experienced health problems and death up to the completion of contract period.

You need to remember that before you buy a life insurance policy, you are advised to seek as much information and comparing quotes from several insurance companies for example relating to the protection offered and the amount of premium that you pay for, and adjust to your ability. Consider also the number of your dependents and any funding needs that will arise in the future in choosing this type of life insurance. The bottom line is you need to do careful planning in accordance with the needs before selecting a life insurance product you want to buy so that the benefits of protection you get from the insurance product is optimal. Remember, the principles carefully before buying also apply for a life insurance product that you do not feel disadvantaged.