Life Insurance
Life insurance is a contract between an insurance policyholder and an insurer, where the insurer agrees to pay a designated beneficiary a sum of money (the “death benefit“) upon the death of the insured person. Why do people buy life insurance? Most people buy life insurance for the peace of mind it provides. Knowing that your loved ones will be taken care of financially if something happens to you can be a great comfort. How does life insurance work? When you purchase a life insurance policy, you pay premiums to the insurer. In exchange, the insurer agrees to pay the death benefit to your designated beneficiaries if you die while the policy is in effect. What are the different types of life insurance? There are two main types of life insurance: term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period of time, typically 10–30 years. If you die during the term of the policy, your beneficiaries will receive the death benefit. If you don‘t die during the term, the policy expires and you (or your beneficiaries) don‘t receive anything. Permanent life insurance, on the other hand, provides coverage for your entire life.
Why You Should Get Life Insurance
If you have people in your life who depend on your income, then you should have life insurance. If something happens to you, life insurance will provide your family with the financial resources they need to maintain their standard of living.
Life insurance Benefits
Death benefits from a life insurance policy are paid to the named beneficiary after the policyholder‘s death. The beneficiary can use the money for any purpose, including covering funeral and burial costs, paying off debts, or funding future goals.
Get Your Free Quote!
When you‘re ready to get a quote for your life Insurance, reach out to us and we‘ll be happy to provide one. We‘ll need some information from you first, and then after that, We will call you after this.
