Term Life Insurance-how to be winner for the assured
If you have a 20 year term life insurance policy with dividends, you can come out a big winner by:
1. redeeming your yearly dividend.
2. and if you are still healthy and fit, terminate the policy by the cash out option just before the expiration (like 12 months before end date).
If you die when your policy is about to expire (say, in 12 months), the insurance company will make it hard for your beneficiary to claim through harassment and bullying tactics.
If you hold on to the policy up to the last day and it expires, the assured survivor or owner of the policy gets nothing at all.
As the financial adviser to my relatives and friends, I am also sharing this with your readers.