Life Insurance Guide
Life insurance helps protect your family from financial stress in case something happens to you. It ensures they can continue their life, pay bills, education, debt, or funeral expenses.
Main Coverage Types
- Term Life: coverage for specific number of years.
- Whole Life: lifelong coverage + savings component.
- Universal Life: flexible coverage and premiums.
Key Terms
- Beneficiary: person who receives the benefit.
- Face Value: amount paid when you pass away.
- Premium: what you pay monthly or yearly.
Term Plan
Affordable and ideal for temporary coverage.
Price: low
Whole Life
Lifelong coverage + investment element.
Price: medium
Family Protection
Full coverage and flexible add-ons.
Price: high
Frequently Asked Questions
What is the right age to get life insurance?
The earlier you start, the lower the cost. Young adults often get the lowest premiums.
Who needs life insurance?
Anyone with dependents, business partners, loans, or family commitments should consider it.