A life insurance policy is a contract with an insurance company. In exchange for premiums (payments), the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries in the event of the insured’s death.

Goal of Life Insurance

To provide a measure of financial security for your family after you die.

Things should be considered before purchasing the Life Insurance Policy

• Financial Situation
• Standard of living you want to maintain for your dependents or survivors
• Needs
• Goals