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Life insurance offers financial security for your loved ones by providing a death benefit in case of your passing.

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There are two primary types: term life insurance and permanent life insurance (lifelong coverage).

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The death benefit is the payout to beneficiaries upon the insured's death. It can cover expenses like debts, mortgages, and future financial needs.

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Permanent life insurance policies can accumulate cash value over time, which can be borrowed against or withdrawn.

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Premiums are the regular payments you make to maintain your life insurance coverage. They can be fixed or flexible, depending on the policy type.

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Insurance companies assess your health and lifestyle during the underwriting process to determine your insurability and premium rates.

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You name beneficiaries in your policy who will receive the death benefit upon your passing. Beneficiaries can be individuals or entities.

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Riders are optional add-ons that customize your policy. They can provide additional coverage for specific needs, such as critical illness or disability.

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Life insurance can be a valuable tool in estate planning, helping beneficiaries manage inheritance taxes and other financial matters.

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People buy life insurance for various reasons, including income replacement, debt coverage, education funding, and legacy planning.

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Self Employed Health Insurance Insights, Facts You Need to Know

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