Drawing Ideas & Pencil Sketch Tutorials – Creative Art Inspiration for All

  What is Life Insurance? Life insurance is a contract between the policyholder and the insurance company. In exchange for regular premium payments, the insurer promises to pay a lump sum (known as the death benefit) to beneficiaries upon the insured's death. This financial support helps families cover living expenses, debts, and future needs. Types of Life Insurance Type of Plan Key Features Who Should Consider It Term Life Insurance Provides coverage for a fixed period (10, 20, 30 years); usually affordable Individuals seeking low-cost protection for specific periods (e.g., until children are grown) Whole Life Insurance Offers lifelong coverage; includes a savings component (cash value) People looking for permanent coverage and a forced savings plan Universal Life Insurance Flexible premiums and death benefits; accumulates cash value Individuals who want lifelong coverage with adjustable terms Variable Life Insurance Death benefit plus investment options tied to market performanc...