Life insurance companies are never required by law to underwrite or to provide coverage to anyone, with the exception of Civil Rights Act compliance requirements. It is a policy that people buy from a life insurance company, which can be the basis of protection and financial stability after one's death. It will provide a lump sum payment equal to the policy limit upon the death of the person whose life is insured. Life insurance provides you peace of mind and can provide your family with financial stability and security when it matters most.
Life insurance is something that many people don?t think about, and also costs more for men because, on average, they don't live as long as women. It premiums generally decrease per thousand dollars at the higher coverage amounts (around $250,000), so if you need more coverage be sure to look at your options. It can ensure this doesn't happen, and specifically designed for seniors typically pays out a lump sum to your family in the event of your death.
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