Life Assurance Provides For Survivors
Life assurance is insurance protection purchased in which the insured individual's death results in payout of benefiting to survivors identified as beneficiaries of the policy. There are several types of life insurance, but the most common is term life insurance or coverage. Term insurance provides for payout of a lump sum upon death of the insured during the specified term of the insurance. Other types of life assurance include mortgage protection. With this type, the insurer pays of the balance of the covered individual's mortgage in the event death occurs during the covered period and fits within the stated payment parameters. ...
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