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www.reference.com/article/life-insurance-important-177fb3f40abe36c9

Life insurance is important because it offers an income to loved ones or other beneficiaries in the event of the death of the insured, explains Futurity First. Life insurance proceeds help cover the significant cost of a funeral and burial and leave loved ones without significant debts related to th

www.reference.com/article/types-life-insurance-3cd954fab443ac13

Types of life insurance policies include whole life, universal life, variable life and variable universal life. The various types of insurance come with different durations, structures, costs and variations.

www.reference.com/article/life-insurance-80d8f70c827c693a

Life insurance provides ongoing income for a policyholder's family if he suddenly dies, according to The Motley Fool. In addition to replacing the deceased's income, life insurance can also cover funeral, legal and medical expenses that result from the policyholder's death.

www.reference.com/business-finance/non-life-insurance-5fbc730e6cdccae3

Non-life insurance policies provide coverage to protect consumers against the risk of their insurance premiums. These types of policies are more common in European countries.

www.reference.com/article/need-life-insurance-cad969a08af2db38

According to Futurity First, life insurance is an important asset because it provides financial protection for the beneficiaries, helping pay for funeral expenses, pay-off debts that could be assigned to the estate and providing living expenses to any dependents. Life insurance can also be used to p

www.reference.com/article/buy-life-insurance-26d05da9740c0780

Individuals shopping for a life insurance policy should calculate the coverage needed and select a reliable, highly rated insurance provider before purchasing insurance, recommends Market Watch. Estimate the money your spouse and family may need, and add in mortgage, college and major health expense

www.reference.com/article/much-life-insurance-need-64d5de4755f65b72

Exactly how much life insurance a person needs varies based on factors such as income, expenses, family size and if the individual has any dependents. Some experts recommend having a life insurance policy that covers between five and 10 times a person's annual income.

www.reference.com/article/life-insurance-work-2d8c44211cf79d51

Life insurance works by having the beneficiary, normally the family of the individual who buys life insurance, receive a fixed amount of money in case the insured individual dies within the period determined by the insurance policy. An individual typically pays a premium on a monthly, quarterly or a

www.reference.com/article/popular-life-insurance-companies-179c8b4666bceec0

Some of the top life insurance companies include MetLife, StateFarm, AARP, and ING as shown on the Consumer Affairs website. The companies were rated based on policy benefits, price, premiums and customer service.

www.reference.com/article/term-life-insurance-c4f6eaa43e53805

Term life insurance is good for a certain period of time. This can be anywhere from one year to 30 years. If the policyholder dies during the term, the beneficiaries of the term life insurance policy receive a payout known as a death benefit.