While this is not strictly an accounting matters, I am putting up the info as part as our overall financial awareness.
Give it a thought at both personal level and corporate need.
What is term assurance?
It is for pure protection for a specific period.
No cash value at the end of period.
When sourcing for term assurance for yourself, review the following areas:-
- any cash values
- Does it bundled with total and permanent disability?
- Does it budnled with terminal /critical illness benefit?
- Is it guranteed renewable despite changes to the condition of your health?
The observed trend - Insurers are cutting term rates as life expectancies improve admist competition driving down prices.
Reference - BT Executive Money 30th Aug 2006
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