Unlike
many of us that would need to actively purchase a life insurance, military
personnel naturally enjoy a well-planned out life insurance policy. These
usually include death gratuity, financial counselling, bereavement support, and
a lifelong survivor benefits. All these are out in place to ensure the family
and relations of military personnel are well taken care of after their death.
In
the case where a death occurs for personnel in the US, the beneficiaries are
allowed to choose between two options; claim a lump sum or 36 equal monthly
installments. According to reports, many beneficiaries opt for the lump sum
payment. This allows them to quickly move on past the grieving stage and look
more towards the future.
Death
gratuity is also included in the package and the military have systems in place
to ensure that payment is claimed smoothly. Using the military as a good
example, life insurance is surely a better way to care for love ones even while
you are not alive. For military personnel, the premiums are taken from their
salary in such a way that it doesn’t necessarily affect them.
No comments:
Post a Comment