What is life insurance?
Life insurance is used to financially support your loved ones in the event of your death. Specifically, your designated beneficiaries are paid a sum of money if something happens to you.
There are many different types of plans, including term life insurance, permanent life insurance, accidental death insurance, and more.
Term life insurance
You pay monthly or annual premiums, and your family is protected for that period, or “term”.
Permanent life insurance
This plan never expires- it protects your family for the entire duration of your life.
Accidental death insurance
This plan is self-explanatory, it protects your family in case of an unexpected accident.
Who needs life insurance?
Maybe you’re married with a family, a college student with loans co-signed by your parents, or a single person living alone. In any of these situations, guess who’s responsible for your mortgage, car payments, student loans, and funeral costs if something happens to you?
Life insurance is the greatest gift for the ones you love, because it provides them with financial security in case the worst happens, and the best part is, it’s AFFORDABLE.