benefits of having a life insurance

21 December 2011

Do you really know what Life Insurance is? It is a contract between an insurance policy holder, the person who bought the policy, and an insurer, the company who sold the policy, where the insurer promises to pay a designated beneficiary, of the person who bought the policy, a sum of money upon the death of the insured person.


If the head or the main breadwinner of a family dies or become critically ill, the family won't have to worry much about their finances if he/she has a life insurance availed beforehand. The main benefit is really about the financial stability of the family left behind.


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