Life Insurance takes care of the people that you love when you pass away. It guarantees protection to your spouse, children, or someone that you want to leave your legacy with. Remember that some Life Insurance plans guarantee a cashback option after your policy matures.

There are many reasons why people might choose to purchase life insurance. One of the most common reasons is to provide financial security for loved ones in the event of the insured’s death. Other reasons include providing funds for end-of-life expenses, covering funeral costs, and creating a nest egg for retirement. There are two basic types of life insurance: permanent life and term life. Permanent life insurance policies last for the lifetime of the insured, whereas term life policies last for a fixed period of time, typically 10 or 20 years.

Permanent life policies offer a number of different options, including whole life, universal life, and variable universal life. These policies accumulate cash value over time, which can be used to pay premiums or other expenses.