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Jun 16, 2020

Financial Protection for Dependents

Life insurance provides a financial fallback for dependents in the event of the policyholder’s death. This ensures that loved ones can cover expenses, meet financial obligations, and expenses financial security.

 Debt Settlement

Life insurance can be used to settle outstanding debts. Mortgages, loans, or credit card balances would be covered. This prevents the burden of debt from passing on to family members.

Income Replacement

 It helps replace lost income, allowing dependents to meet their financial needs in the event of the death of the policyholder.

Published On: February 10th, 2024 / Categories: Blog, Insurance Facts, Life Insurance /