Life insurance is a contract between the policy owner and the insurer, where the insurer agrees to pay

a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. As with most insurance policies, life insurance is a contract between the insurer and the policy owner whereby a benefit is paid to the designated beneficiaries if an insured event occurs which is covered by the policy. The life-situation cannot be expressed in money, so the policy-holder has disposal of the insured amount of money. A life insurance increases safety, and provides help in problems arising as a result of an emergency. Today's modern man prepares himself for the unexpected situations, to ensure their own and their family members future financial security. An unexpected death also forces the survivors in unanticipated expenses, but a well thought plan can keep family members from inconvenient financial problems. The carefully chosen life insurance is capable of increasing our security, and provides an opportunity to resolve the consequences of possible emergencies. Types of life insurances: Temporary Term Insurance, Permanent Life Insurance, Whole life coverage, Universal life coverage, Limited-pay, Endowments, Accidental Death. As you can see, there are many forms of life insurances, which provide payment in different situations. So we can say that life insurance is a profitable investment, because whatever happens to us, the insurance can cover any costs. Wherever we are, whatever we do, we feel more secure when we have a life insurance.

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