Vishal Vishwakarma
Life insurance is a type of insurance that provides a financial payout to designated beneficiaries upon the death of the insured person. It is a contract between the policyholder (the person who purchases the insurance) and the insurance company.
The policyholder pays regular premiums to the insurance company in exchange for a predetermined death benefit, which is the amount of money that will be paid out to the beneficiaries upon the policyholder's death.
Life insurance can be used to help provide financial security for a family or loved ones after the policyholder's death. It can help cover funeral expenses, pay off debts or mortgages, and provide ongoing financial support for the policyholder's dependents.
There are several types of life insurance, including term life insurance, whole life insurance, and universal life insurance, each with its own features and benefits.
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