Life insurance provides financial support for your family in case of your death. There are different types of policies that cater to your needs and those of your loved ones:
- Term life insurance: Offers coverage for a specific period (for example, 10, 20, or 30 years). If you die during this period, your beneficiary will receive a payment for the insured amount. This type of insurance is ideal for covering temporary debts like a mortgage or children’s education.
- Permanent life insurance: Provides lifelong coverage and, in addition to the death benefit, includes a savings account that accumulates value over time. This can be used for loans or withdrawn later. It’s an ideal option for those seeking a combination of protection and long-term savings.
- Universal life insurance: A variant of permanent life insurance but more flexible. It allows you to adjust premium amounts and coverage according to your needs over time.
Benefits of life insurance:
- Protect your family’s financial future
- Cover debts, mortgages, or medical expenses
- Ensure your children’s education
- Leave a financial legacy
