Insurance Pedia

            What exactly is life insurance? In the event of the policyholder's dying, the beneficiaries of a life insurance policy will have access to financial stability. It is designed to give the insured person's family or other loved ones financial support after their passing.      Regular premium payments are made to the insurance provider when you buy a life insurance policy. In return, the insurance company promises to pay the designated beneficiaries a death benefit in the event that the insured passes away. These funds can be used by the recipients for a range of costs, including funeral costs, unpaid debts, mortgage payments, tuition, and other living expenditures. Though there are several variations on each, there are two primary categories of life insurance policies:  Term Life Insurance: Life Insurance,Term life insurance offers protection for a predetermined time period, usually 10, 20, or 30 years. If the insured pers...