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| Life insurance provides assurance that your loved ones will be taken care of after your passing, which will give you peace of mind during your lifetime. If you have dependents, people who depend on you to support them, then you have probably wondered what would happen to them if something happens to you. There are two main types of life insurance. Whole life appeals to some because it also includes an investment aspect. You pay your premium for a specified term and, if something happens to you during that term, then your beneficiary receives the death benefit. One of the simplest solutions to that problem is to purchase life insurance. Your premiums are invested in financial instruments like stocks or bonds and the death benefit is paid from the dividends of those investments. If you are just looking for that assurance and do not want to pay too much money for it, then your best bet is probably to buy term insurance. But whole life also costs much more than term life insurance, which works on more of a traditional insurance model. |