This is a detailed and inclusive guide on what life insurance is, the various categories that it falls under and the process of selecting your insurance policy.
What is Life Insurance?
Life insurance is a form of policy between a person and an insurance firm which aims to provide for a specific amount of money to the insurer’s nominee after their death. For the policyholder to make fixed and steady premium remittances the insurance company promises to payout a stated amount of money to the beneficiaries upon the policyholder’s demuse. This amount referred to as the death benefit can be used to pay for items like; burial expenses, pending bills and other expenses in day-to-day activities.
Depending on your situation and needs, life insurance policies are protective instruments that form an integral part of any individual’s financial management plan. Thus, to achieve the protection of your family’s financial status, it is essential to understand all the types of life insurance and to choose the proper one. It should be noted that it is essential to review your life insurance policy and modify it according to the current situation periodically.
Services:
Insurance, Policy
Client:
Mike hardson
Date:
20 June, 2023
Location:
Broklyn, New York