Life insurance is a contract between an individual and an insurance company in which the insurance company agrees to pay a death benefit to the individual’s designated beneficiaries upon the individual’s death in exchange for the payment of premiums. Life insurance is designed to provide financial protection for your loved ones in the event of…
Definition of life insurance Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the insured’s death. It is a way to protect your loved ones during your untimely death financially. Investing in life insurance Investing in Life insurance is…
Whole Life Insurance Whole life insurance, also known as permanent life insurance, provides coverage for an individual’s entire lifetime as long as premiums are paid. Unlike term life insurance, which provides coverage for a specific period, whole life insurance does not expire as long as premiums are paid and the policy remains in force. Whole…
