LIFE INSURANCE

Answer 1

Life insurance is a significant way to ensure that the life of the insured is financially protected. This is a mode of extending monetary assistance to the family of the insured when he dies. This money may be used for the payment of the debt, mortgage and other similar in nature.

That being said, life insurance has the advantage to secure financial protection for the insured’s loved ones. Basically, when the head of the family dies the burden of facilitating his burial is being shouldered by the spouse and children that usually includes all the expenses relating thereto.

Answer 2

Life insurance is all about protecting loved ones in case of a worst-case scenario: death. After all, if the breadwinner in a family passes away, there could be a lot of financial strain that happens along with grief. Additionally, funerals and settling a loved one's affairs is not cheap. It involves time spent away from work, time spent planning and arranging things, and money to close accounts and deal with estate taxes and other odds and ends. This is why life insurance is so important. Having the right policy can save a family from a lot of financial agony. The following are some of the benefits to investing in the right life insurance policy.

One of the best things about life insurance is that it allows a person to plan their will and work out their wishes. Many families fight not only over who should pay for funerals and medical costs but who should receive property, cars, and the deceased's possessions. Having all of this worked out beforehand ensures that one can die in peace and that the family will have less to stress out about.

Large policies can be taken out to do everything from pay off a house to pay a child's college tuition. Being able to secure a family's future is something that any parent or loved one will want to do if they pass away. This ensures that the death brings some good, too. It can also ensure that a family will be taken care of if the sole breadwinner does pass away. Having some cushion to work with means that loved ones can grieve without worrying about how to put food on the table.

Having a reliable plan with a life insurance company is a great way to close up loose ends. Such a policy can be taken out when a person is young or when a person is older. Really, it pays to be prepared. This means that everyone can rest assured that things will be taken care of during the darkest of times.

Answer 3

At John Galt Insurance, life insurance is a contract between an insurance policy holder and an insurance company in which the insurer agrees to pay a sum of money in exchange for a premium if the covered person dies or after a certain length of time.

Answer 4

LIFE INSURANCE