Life insurance can be an essential tool to help protect your family if you should pass away unexpectedly. But, the topic of life insurance can be confusing, especially since there are many types of policies and options out there. If you want to know about life insurance so that you can get the best policy, read on for 10 important facts about it that will help you learn everything you need to know before taking the plunge with your own policy. Here’s what you need to know about life insurance before buying your own policy
What Is Life Insurance?
Life insurance is a contract that ensures your family receives money in case of death. In general, there are two main types of life insurance – term and permanent. Here’s a breakdown of each type
The Importance of Considering Age in Selecting a Policy
When selecting a life insurance policy, it’s important to consider not only your age but also your health and medical history. The younger you are, the more likely you are to be afflicted with an illness or disease. For example, if you suffer from diabetes or heart disease in your 20s, there’s a good chance that those conditions will become more severe over time. Thus, if you purchase a policy when you’re young and healthy, it may not provide adequate coverage later on in life.
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