Life insurance can be complicated and confusing. This helpful video explains how it all works. There are lots of reasons why people buy life insurance – an income for your family should you die, or to cover education. In business, life insurance can protect partners to insure that the business can continue in the event of a death, or to cover retirement income. Life insurance can be used to pay off any debts in case the main earner dies.
It’s important to understand how life insurance works before making a purchase. There’s no use in a policy which doesn’t give security for the expected situations and needs of the individual being covered. It is important to find a good provider at a good price point who can cover the needs of the policy holder.