What is Life Insurance?
Life insurance is a protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.
Life Insurance needs can change over a lifetime. At any age, the insured should consider their individual circumstances and the standard of living you wish to maintain for your dependents. In most cases, an insured needs life insurance only if someone depends on you for support. Your life insurance premium is based on the type of insurance you buy, the amount you buy and your chance of death while the policy is in effect.