There are a lot of things in this plane of existence that are uncertain. But if there is one thing that is certain beyond doubt is ‘mortality’. Each and every one of us will die one day, that much is a given. Yet we continue to strive forward and strive to leave a legacy behind for our descendants to continue.
Life insurance is one of the most essential ways you can secure your legacy. If by any chance you fall prey to an incurable disease or a mortal injury, you can pass on to the afterlife with no such burden upon your shoulders that your family won’t be provided for.
As the insured person you would have to specify the identification of beneficiary. It could be your spouse, your children or your friend. The beneficiary will receive the all that is due to them as in accordance with the contract.
It can be used to cover a number of things, but mostly people take this contract in order to help their family pay for a mortgage, or perhaps for the children to pay for their college education.
Life Insurance is undoubtedly one of the necessities for those who worry about their loved ones’ welfare.