Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.
Life insurance is one of the essentials which an individual should have for the more contented future of his family in his absence. It provides money, or what’s known as a death benefit, to your chosen beneficiary after you die. It can help give your loved ones access to money when they need it. Understanding life insurance can help you plan for your family’s long-term financial needs.
If something happens to you, will your family have the funds to pay the bills without your income? Make sure you’ve done all you can to help protect their way of life by having a life insurance policy that will help your loved ones through the tough times. Life insurance offers a measure of stability you and your loved ones can count on.