Life Insurance is your guardian angel! Life is unexpected and full of ups and downs. Our sole existence has a huge impact on the people surrounding us, and so we all should make sure to secure them in every way possible. So, insurance is one such way to go.
How Does Life Insurance Work?
Just as health insurance works by covering the costs when the time of need arrives, life insurance works just the same. However, it provides coverage to your beneficiaries after your death. Beneficiaries are the people who get to receive your death benefit. Your beneficiaries are chosen by yourself and can be your spouse, kids, or any dear one. It acts as a helpful tool to shield your loved ones from suffering after your demise. It pays a lump sum amount, and your beneficiaries can use it anywhere, such as paying bills or a mortgage. Life insurance has various cost options differing by several factors such as your health, gender, and age. Life insurance is a great way to live life carefree, knowing that your loved ones remain in safe hands after your demise. It also helps your friends and family to remain secure financially in hard times.
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