“You don’t buy life insurance because you are going to die, but because those you love are going to live.”
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In a contract between an insurance policyholder and an insurer or assurer, the insurer agrees to pay a specific beneficiary a certain amount of money if the insured person passes away. Other occurrences, such as critical sickness or terminal disease, may also result in payment, depending on the terms of the contract.
Do people select whole life insurance for what reasons? Whole life insurance offers everlasting protection, accrues cash value, and can help your family amass money over time.
The numerous advantages of life insurance are a restoration of lost income after years of lost wages, eliminating your mortgage, settling other bills, including credit card, student, and auto loans, financing your children’s college education, and helping with other responsibilities, including providing for aged parents.