What is importance of life insurance?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

The importance of life insurance is that it provides financial security for the future of those you name as beneficiary on your life insurance policy. Life insurance is a contract that pays out a life isnruance death benefit in return for the premium payments, subject to the terms, conditions, and exclusions in the contract. The life insurance proceeds can be used by the beneficiary for any reason they choose. That means you can name your family members as beneficiaries to your life insurance policy and they could receive the proceeds upon your death, if the life insurance policy is still "In Force". The proceeds from a life insurance policy may be used for any number of reasons including, paying off a mortgage, paying college tuition for your kids, providing funds for your spouse's retirement, paying for your final expenses, or providing money for your family to continue their current lifestyle. Life insurance provides the financial means for your beneficiaries to have a financially secure future if you are no longer there to provide for them.
2 people found this useful

Where do you get life insurance from?

You can check your local phone book or online to find an agent andget quotes. Independent brokers are best as they represent amultitude of companies and can literally shop for

What is life insurance?

With a wide range of life insurance policies available in themarket today, it is important to know how to select the bestoption. With rising awareness about financial products

What factors are important when choosing life insurance?

Some important factors to consider when choosing life insurance, inlcude: How long need life insurance. How much life insurance you need. What type of life insurance to buy. T

When getting life insurance coverage is less or more important?

When getting life insurance, it's important to get the right amount of life insurance to meet your needs.. One way to find out how much life insurance you need is to use a li

Do you have to have life insurance?

Answer 1 Yes i have life insurance that can pay well to my family after mydeath. At least, they will not depend on some one else. If i willalive that time i would like to con

Where can you get life insurance?

Where to get Life Insurance There are many fine company web sites that make life insurancequotes available on the internet. The problem with most quotes isthey fail to ask the

What is insurable interest in life insurance?

Insurable interest refers to when someone (called Person A) wants to buy life insurance on another person (Person B). In order for Person A to buy life insurance on Person B,

Why is it important to have life insurance?

Life Insurance - in the event the insured dies the policy pays out a tax free amount to the beneficiary. There are three types: . Term Insurance - Insurance coverage for

Where can I get life insurance?

There are many life insurance policies available in the market which offers you impressive features at reasonable premium. I would suggest you to get quotes from various life

What is Life insurance and general insurance?

Life insurance, as the name suggests, is insurance on human lives. Life insurance policies are considered to be "valued policies" because they are purchased in finite amounts,

Do I have life insurance?

It's not something you were naturally born with. Unless you took out a plan with your bank or job or somewhere and are paying into it my guess is no.

Which insurance is the best insurance for life?

There are 2 primary types of life insurance. Neither is "best"because they serve different purposes and may be more appropriateat different times in one's life. One type is "w

Why is it important for Diabetics to have life insurance?

It is important for Diabetics to have life insurance in case they have an urgent medical problem which needs a doctors' services right away. With life insurance, if they are h