Life, Disability & Long Term Care

What is life insurance?

Life insurance is a contract binding a life insurance company to compensate a beneficiary for the death of a person insured. If the insured dies, the company will provide a cash payment to the beneficiary. Life insurance is used to protect the economic value of a human life with regard to those who may be financially dependent upon it.

You know that you need life insurance, but with the wide variety of policies available, you may find choosing the right one difficult. It's really not as confusing as it seems, once you understand the basic types of life insurance policies: term life insurance, traditional whole life insurance, universal life, variable life, variable universal life and joint or survivorship life.

To quickly estimate the amount of life insurance protection you may need, based on your survivors' financial requirements, visit our Life insurance needs calculator.

 

 

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