What is Life Insurance?

Life insurance is a financial product that provides a payout to your beneficiaries upon your death, helping them manage expenses, pay off debts, and maintain their lifestyle. Some policies also offer savings or investment growth.

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What Does Life Insurance Cover?

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Death Benefit

The main coverage, ensuring your beneficiaries receive a lump sum if you pass away.

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Critical Illness

Covers serious illnesses like cancer, heart attack, or stroke.

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Accidental Death

Provides extra coverage for death caused by an accident.

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Funeral Expenses

Some policies help cover funeral costs.

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Living Benefits

Certain policies provide funds if you’re diagnosed with a terminal illness or have an investment component.

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How Does Life Insurance Work?

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Choose a Policy

Select from term life, whole life, or universal life policies based on your needs.

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Pay the Premium

Pay regular premiums, with the amount depending on your age, health, and coverage type.

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Coverage Period

Term life is for a set period, while whole life and universal life offer lifetime coverage, with some policies building cash value.

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Claim Process

If you pass away, your beneficiaries can file a claim for the death benefit. Some policies allow access to funds while you're still alive.

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Benefits of Life Insurance

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Financial Protection

Helps your loved ones cover living expenses and debts after your death.

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Peace of Mind

Relieves the worry of leaving your family financially unprepared.

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Tax Benefits

Premiums may be tax-deductible, and the death benefit is often tax-free.

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Wealth Building

Some policies accumulate cash value over time, offering a savings or investment option.

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Flexible Coverage

Policies can be tailored to your needs, whether temporary or permanent.

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Debt Repayment

Can help cover outstanding debts like a mortgage or loans.

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Business Continuity

Useful for business owners in succession planning.