Life insurance isn’t the most pleasant topic to discuss, but it can provide peace of mind to your family. Nowadays buying life insurance can be quick and easy. There are several online tools and programs to help you identify the right amount of coverage for you and your family.
What is life insurance?
A life insurance policy is a contract between yourself and an insurance company. In exchange for paying regular premiums over a period of time, an insurance company agrees to pay face value of the policy to the beneficiaries upon your death. A beneficiary can be anyone: your children, a spouse or other family members. It’s an important safety net if anyone depends on you financially. A life insurance payout can be used by a beneficiary for debts such as a mortgage, income replacement, college tuition, or anything else.
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