Life Insurance is a contract between an insured and a Life Insurance company, where the insurance company pays a lump sum amount after a certain period or upon the death of the insured in exchange for the premium. A Life Insurance policy is an agreement between an insurance company & a poli...
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Term life insurance istemporary life insurancefor a set period of time. You can choose a term between 10 and 30 years. Let’s say you die within the policy term. The cash value of the policy is paid to the beneficiary. However, if you outlive the term of the policy, the policy ends...
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