Life Insurance
Life insurance is a contract in which a policyholder pays regular premiums in exchange for a lump-sum death benefit may be paid to the policyholder’s beneficiaries.
The lump-sum benefit is paid when the policyholder either passes away or a specific amount of time has passed. Life insurance policies can help provide financial security by replacing lost income and covering expenses.
There are different kinds of Life Insurances:
- Term Life Insurance
- Whole/Universal Life Insurane