Life Insurance

Life Insurance

Life Insurance is a contract between an insured and an insurer. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. Generally, the purpose of life insurance is to provide peace of mind by assuring that financial loss or hardship will be alleviated in the event of the insured person's death.

Insurance coverage is the amount of risk or liability that is covered for an individual or entity by way of insurance services. Insurance coverage, such as auto insurance, life insurance. It turns out it helps cover whatever your loved ones want—or need—it to, including expenses both short-term (like a funeral, burial and other end-of-life costs) and long-term (like college tuition or paying off a mortgage). Think of your insurance policy as a contract with your life insurance company.