What is the foundation of the foundation?
The foundation is a kind of life insurance that pays the beneficiary in most circumstances when the policyholder dies. Some policies of the foundation also pay off if the policyholder has a critical and seriously illuminating illness or illness from which he will soon die. Unlike other types of life insurance, this insurance has a due date and if the policyholder is not dead, when policy matures, he can give up the deadline for the value of policy. Policy can also be handed over before its maturity, but it usually reduces the amount of money the policyholder receives.
The policy of ensuring the foundation is primarily life insurance, which means that the value of policy is paid to the beneficiary when the policyholder dies. The number is able to name one recipient or, if no one is named, the money can go to other relatives. When this certainty pays the recipient, it pays the value in one one -off amount.
As a form of life insurance, the security of the foundation usually pays for the death of the policyholder. Some policies, depending on the issuer and circumstances, they may apply if the policyholder suffers critical injuries or illness. If politics is paid under these circumstances, the disease or injury must usually disrupt the policyholder's mind, so it is unable to think or influence it in such a way that it has only a short time to live. However, if this is not stated in politics, it will not apply no matter how sick or injured is.
Unlike most types of life insurance, the Foundation has a maturity date. Maturity is usually from five to 20 years after politics is discarded, depending on the bonus and the total value of politics. When certainty achieves maturity, the holder can either maintain policy by paying more money and making it more valuable, or it can turn it to the value of politics. Although the holder is not dead, he can receive money by handing sure.
If the holder needs money or does not want to maintain the foundation, it can even before maturity. WhenThe assurance prematurely handles, the holder does not receive the full value of policy, but receives the amount of the evaluation. The holder usually receives less money than he paid for this policy, but premature surrender is unusual.