If you’re considering buying a life insurance policy. you probably have tons of questions.
Should I obtain a term life insurance policy to cover me for a specific time?
A whole life insurance policy that will be in impact the rest of my life?
How much it will cost me?
On the other hand, life insurance companies, typically have only one fundamental question: How long are you likely to live?
So in this article, we will share with you the answers to questions that you should ask before purchasing any life insurance policy.
Life Insurance Q #06: Why Life Insurance is Important?
Life insurance provides coverage if a certain scenario occurs: for example, a person falls ill, dies, or, conversely, lives to a certain age.
Furthermore, a good life insurance policy is essential, as it protects your family and lets you leave them a non-taxable amount at the time of death.
Also, it is used to protect your mortgage and your loans, such as your car loan.
When you are no longer insured by your employer your life insurance plan pursues you when you retire.
insurance is necessary when there is a risk that property, health, or any other valuable part of our lives could be at risk, and money or other means may not be available in case of force majeure.