Life Insurance
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Life Insurance

Life insurance is often thought of as a simple plan where the insured pays monthly and a beneficiary receives money after they die. Much like everything else in life, it is not as simple as it first appears. There are many different types of life insurance policies that act in many different ways. Some policies act as financial protection for the survivors of the deceased, so they are not overwhelmed by funeral costs and loss of family income. Other policies act more like investments, focusing on a long-term investment strategy to increase financial value over time. Either way, it is best to speak to a professional in detail before selecting a plan.

Policies can become null if the insured dies as a result of suicide, fraud, war, riot, or civil commotion

Key Points of Life Insurance:

  • The insured does not always have to be the policy holder
  • Prices can vary dramatically, based upon age, weight, smoking, and gender
  • Based upon a physical taken by the insured, an insurance company can opt to not write a policy at any rate