Finance

Things You Should Know about Such a Policy That Covers Critical Illness but Also Tax Efficient

You people purchase a number of insurance policies that provide the live coverage or critical illness coverage. You may not find such an insurance policy that can help you with both these services. Today we are here to let you know about that life insurance that offers services with this unique combination of live coverage and critical illness coverage. This policy is presently known as relevant life and critical illness cover but previously it was named as Aviva Relevant Life Policy.

 Now let’s discuss the benefits of this life insurance. The life insurance with this unique combination offers the live coverage that will provide your family with the benefits with some amount of money after your death. This insurance will also provide you money to make expenses for your critical illness. This dual benefit of this insurance policy can easily grab the attention of the customers. There is another interesting benefit of this insurance policy that can amaze you. You can use this insurance as a tax saving tools. Generally, the insurance that offers the critical illness coverage don’t allow their insurance to get used for tax saving, but you can show the amount of money invested to pay the premiums as a business investment. The multiple benefits of this insurance policy are the main attraction to the customer.

Covers Critical Illness

 Till are you have read about the benefits that you may get from the Aviva Relevant Life Policy but there are also some disadvantages of this policy that you should know about. The disadvantages are stated following.

Firstly, you can only take the advantages of this insurance policy within a certain range of age that is from 18 to 64. Where most of the other critical illness insurances provide the benefits until the age of 70 or more. Secondly, you may not get the benefit of covering the total amount of money for your critical illness. There is some disease listed only for which you can enjoy the benefit of total coverage of expenses. For the other diseases, you may get the benefit with some percentage of coverage. Thirdly you may not get the critical illness coverage for all the critical health issues, the coverage is provided for only certain health issues that are listed in the terms and conditions section of the life insurance policy.

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