What Are The Benefits Available On Life Insurance ?
I want life insurance what options should I consider adding ?
When taking out a life insurance plan there are a number of different options you could decide to add should you think they would be appropriate to your circumstances. These need to be added at the start of the life insurance policy from the outset.
Waiver of Payment Benefit
Waiver of payment benefit can be added to most life insurance polices, this benefit if added means that you do not have to pay your life insurance premiums if you cannot work for six months or more as a result of illness or injury. Most of the insurers will expect the premiums to be paid on the life insurance policy for normally at first, however after normally about 26 weeks of incapacity the premiums will be waived.
The incapacity or waiver on a life insurance policy is normally assessed by something called Functional Assessment Tests and these are to be done without the help of another person.
Walking - the ability to walk 200 meters on the flat ground with or without the aid of a walking stick without stopping or experiencing discomfort.
Bending - the ability to get into and out of a standard saloon car and the ability to bend or kneel to pick an object up off the floor and straighten up again.
Communicating - the ability to answer the telephone and to take a message.
Reading - having the required eyesight(corrected if necessary) to be able to read a daily newspaper
Writing - having the physical ability to write legibly using a pen or pencil without aid.
