What Is Life Insurance

We see commercials on television, in the newspaper radio all the time about Life Insurance and ask ourselves everyday what life insurance is. Truly, what is Life Insurance?

Life Insurance is an agreement between you and the life insurance company to insure your life so that when you pass away there is a benefit for your survivors. A person who purchases a Life Insurance policy pays for the policy and the payment is commonly referred to as a premium. The Life Insurance Company agrees to pay a sum of money to a person of your choice when you die commonly referred to as your survivors. Life Insurance has four participants. The four participants of the policy are the Life Insurance Company, the policy owner, the insured individual and the beneficiary. The Life Insurance company upon acceptance and issuing a policy, will them agree to pay a death benefit to the policy’s beneficiary upon the death of the insured, so as long as the policy is in force at the time of death.

Life Insurance Policies

There are many purposes or reasons for having Life Insurance. The most common purpose of having Life Insurance is to protect the finances of one’s family or friends in case of the wage-earner’s death, but that’s not its only use. Life insurance can be used to hire child care in Texas as well as other states, to replace a home makers contribution, estate protection, and mortgage protection, fund a retirement, protect a business, etc. All Life Insurance policies require fixed payments on a fixed schedule.

Term Life Insurance Coverage

There are four types of Life Insurance. Term life Insurance provides coverage for a fixed duration. The policy only pays a death benefit if the insured individual dies before the policy expires. Whole this policy guarantees coverage up to a certain age. Lie Insurance policies can be written to guarantee a death benefit, so even if the insured individual outlives the policy, a death benefit will still be paid. These Life Insurance policies may also carry a cash value which means they can be liquidated. Universal life insurance allows payments of any amount and at any time. Life Insurance policies may also carry a cash value, which means that they can be liquidated.

Cheaper Term Life Insurance Quotes

Choosing a life insurance policy is all up to you and which benefit would best fit your needs. Please consult with a licensed life insurance representative. Our Cheaper Term Life Insurance professionals can get you Permanent Life Insurance and Cheaper Term Life Insurance Quotes. We can help you receive Life Insurance For Cancer, Diabetes and People with Heart Disease and other Special Risk Cases.

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