life insurance

Understand the Problem

The question is a general inquiry about life insurance, seeking information on its definition, purpose, types, or benefits.

Answer

Life insurance is a contract offering financial support to beneficiaries upon the policyholder's death in exchange for premiums paid.

Life insurance is a contract where the policyholder pays premiums in exchange for a sum of money to be paid to beneficiaries upon the policyholder's death. It provides financial support to family members or loved ones in the event of the policyholder's passing.

Answer for screen readers

Life insurance is a contract where the policyholder pays premiums in exchange for a sum of money to be paid to beneficiaries upon the policyholder's death. It provides financial support to family members or loved ones in the event of the policyholder's passing.

More Information

Life insurance can offer peace of mind by ensuring financial security for your dependents. It can cover expenses like funeral costs, debts, and living expenses.

Sources

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