What if Life Insurance?
Life insurance is a contract between an insurance company and the insured to provide for payment of benefits if death occurs. Life insurance provides the beneficiary with money needed to cover final expenses, clearing or eliminating debt, or earning potential lost by family provider who died unexpectedly. Policy holders pay premiums in exchange for the right to receive a predetermined sum of money upon meeting certain life events. Life insurance is not life-saving or life-changing, but life insurance can ensure a life after a life changing event occurs, such as death.
List of life insurance benefits:
• Provides for final expenses and/or outstanding debts
• Can help provide income lost from the death of a provider
• Makes life easier for people who must take over the provider's role