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.
