What is Life Insurance?

Life insurance is a contract between an insurer and a policyholder. A life insurance policy guarantees the insurer pays a sum of money to named beneficiaries when the insured policyholder passes away.

Types of Life Insurance

• Term Life Insurance: Covers you for a set period of time.
• Whole Life Insurance: Provides lifetime coverage and includes a savings component.
• Universal Life Insurance: Offers flexible premiums and a cash value component.

Why Do You Need Life Insurance?

Life insurance provides financial protection to your family, helping cover expenses like mortgage payments, children's education, and daily living costs.