Do You know ,What Is Life Insurance....????

Do You know ,What Is Life Insurance....????

What is life insurance : New to buying life insurance? Learn how it works and what you need to understand to choose your reporting.
A life insurance policy is a contract with an insurance company. In replace for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiary upon the insured's death.

Typically, life insurance is selected based on the needs and goals of the owner. Term life insurance usually provide protection for a set time of time, while permanent insurance, such as whole and universal life, provides lifetime treatment. It's important to note that death benefits from all types of life insurance are normally income tax-free