Death is a tragic incident regardless of the time when it occurs. And if you are an active member of your family with having several of your own dependent on you then it can be an even greater burden. But death is what it is, unavoidable. The best that we can do is to prepare for it while we still have the chance. For that purpose many people take the life insurance cover while they are in service. But what if your passing occurs while you are yet employed? No, this article is not aimed at scaring you but at making you more conscious of your options and all the options that you have at hand to counter it while you still can. You should look for having death in service life insurance.
An additional safety blanket:
What this option means is that the dependent members of your family hat need you to sustain their living are liable to receive anywhere around four to six time the total annual salary you receive. This makes the burden of carrying out a livelihood easier. They have abundant time to cope with the stress that they are going through and plan for a future without you. Of course your will s respected too. If you are desirous of making this payment to any other person or in any manner that you think will be of more benefit, you can make the instructions and leave them with the service provider.
You should check to see whether or not you have the death in service life insurance, not all employers are as liberal as others. Financial aid can go a long way in ensuring that your loved ones get the life that you wanted for them. There are some benefits that accrue from this form of insurance too. The biggest of which is that the sum is entirely tax free and can be paid in one lump sum amount. You do not have to wait for a long time to receive the benefits. Being eligible to having four or more time the amount of annual salary means that you can guarantee a safe and financially secure future. Till at least they have the time to stand on their own feet. The package is usually a part of benefits that you are entitled to.
Check today to find out where you stand on these parameters.