32+ Life Insurance Needs Background. Although generally, renewable term insurance is sufficient for most people, you have to look at your own. Life insurance (or life assurance, especially in the commonwealth of nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium.
Business partners), but the main incentive to own life insurance always has been to ensure your loved ones will be taken care of financially should you die.
There are others who need life insurance (e.g. You should consider asking your licensed life insurance agent these questions to help find the right plan for your coverage needs. Learn from new york life about your options to ensure your loved ones have the financial security they need. If you've got kids, or a partner or relative relies on you for financial support, it could be worth getting though.
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