Life Insurance Meaning and Importance Life Insurance Meaning and Importance What is the meaning of life insurance and what is its importance? Life insurance is a form of protection from financial loss that grants your beneficiaries cash benefits in the event of your death. Listed below are some important differences between different types of life insurance policies and what they mean for you. What Does Life Insurance Cover? When the unexpected happens, life insurance policies can help keep your loved ones financially afloat. For a monthly fee (also called a premium), you can ensure that those who depend on you and your income have help covering costs such as: Final expenses and funeral...
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What is life insurance and where did it come from? Today we’re going to answer that and why you should care, because it might be the most important purchase you make for your family or business. What is life insurance? Life insurance can be defined as a type of insurance that will pay a death benefit when someone dies. Now you need to understand that simple explanation is a bit more complicated today. To understand how life insurance is used today, we need to look how it all started. Why? Well life insurance might be the oldest kind of insurance or financial products available to you. It got its start from an old time principle of helping your neighbor. Centuries ago, when someone...
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There are several different types of life insurance policies which are designed to meet the needs of individuals of all ages. You may have heard about graded premium whole life insurance that promises for a low price to guarantee coverage that holds the same premiums into your senior years. But what is GBL insurance and does it work as promised? What is Graded Benefit Whole Life Insurance? It is a permanent life insurance policy as opposed to a term policy that ends after a pre-designated period. What makes this type of life insurance different from standard permanent policies is that it is graded over time so that your premiums will not increase. This means that for the first two years of...
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