Who needs insurance?

There are several reasons to purchase insurance. Life insurance policies can cover lost income due to the death of a wage earner, funeral costs, and outstanding debts.

The person who has full life insurance coverage is protected for life and as long as the required premiums are paid or maturity is attained. The insurer will pay the death benefit to the beneficiary when the person dies.

Term Life insurance benefits by having the least expensive method of having life insurance for a fixed or short period of time. If the insured dies during the term insurance period, the benefit will be paid to the beneficiary.

Senior Life Insurance could be a good option for senior people who have medical conditions and can’t afford high whole insurance premiums; here this insurance helps to cover the funeral and final expenses.