Life Insurance

In simple words, life insurance is an insurance that guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age.

 

Life insurance provides cash to your family and dependents after your death. This cash (known as the death benefit) replaces your income and can help your family meet many important financial needs like daily living expenses, mortgage payments and educational expenses. There is no income tax on life insurance benefits.

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