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What is Whole Life Insurance?
Life insurance policy which is guaranteed to stay in force for the insured's entire/whole lifetime, subject to require premiums are paid, or to the maturity date. Premiums are fixed, based on the age at the time of issue, and usually premiums do not increase with age.
Why Life Insurance is important?
Life insurance: Insure several purposes.
● To Protect your Family and Loved ones
● To Leave an Inheritance
● To Pay off Debts and other Expenses
● To Add more Financial Security
● To Bring Peace of Mind
The most important function of Life insurance is to replace the earnings that would cease at the death of the insured.
Employers purchase life insurance policies on key employees to insure against the loss of services or income that result after an employee's death.
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