Life insurance is like a safety net for your loved ones. It’s a contract with an insurance company where you pay premiums regularly, and in return, the insurer promises to pay a sum of money to your beneficiaries if you pass away. The idea is to provide financial security for your family, helping them cover expenses like funeral costs, debts, and daily living expenses.
There are different types of life insurance, including term life (which covers you for a specific period) and whole life (which covers you for your entire life and also has a savings component). Choosing the right one depends on your needs and goals.
It’s a way to ensure that even if you’re not around, your family’s financial future is protected. If you’d like more details or have specific questions about life insurance, just let me know!