The purpose of Life Insurance is to provide financial protection and support to the beneficiaries in the event of the policyholder’s passing.
Life Insurance also provides financial security, helps to pay off debts, helps to pay living expenses, and helps to pay any medical or final expenses.
Some of the things a “Life Insurance Policy” can cover:
Some common types of living benefit riders:
Disability waiver of premium.
Pay for end-of-life expenses.
Pay off debts.
Replace lost income.
Pay for college tuition.
Leave a financial gift.