Life insurance is a contract between the policyholder and an insurance company, where the insurance company agrees to pay a death benefit to the beneficiaries upon the policyholder's death in exchange for premium payments.
The main purpose of life insurance is to provide financial protection for the policyholder's dependents in the event of their death. This can help with final expenses, replace lost income, pay off debts, and provide for other financial needs. Life insurance policies can be term life insurance or permanent life insurance and can be customized to fit the policyholder's specific needs.
- Provides financial security for loved ones
- Pays for final expenses
- Helps replace lost income
- Covers mortgage and other debts
- Can be used for education expenses
- Offers tax benefits
- Provides peace of mind
- Can be used for retirement planning
- Offers flexible coverage options
- Helps with estate planning
- Protects against unexpected events
- Can be customized to fit individual needs
- Offers guaranteed death benefits
- Provides coverage for all stages of life
- Can be used for long-term care expenses
- Offers living benefits
- Can be converted to permanent coverage
- Affordable monthly cost
- Easy to purchase and manage
- Can provide security for business owners and their families.
