Life Insurance and Investment
Life insurance is a contract between an insurer and the policy owner that guarantees a sum of money to the policy’s named beneficiaries when the insured dies.
Life insurance acts as a financial safety net for your family. If you die while it’s active, your insurance company pays a sum of money to the people you’ve named in your policy. This money, known as the death benefit, can help your beneficiaries replace your lost income and cover expenses like housing, food, and utility bills. Life insurance can also be used to pay for funeral expenses, cover outstanding debts, or leave a legacy for loved ones or charitable organizations.