Life insurance provides a lump sum or regular monthly payment to your loved ones if you pass away during the policy term. This payment, known as the death benefit, can help your family cover expenses like mortgage repayments, household bills, and other living costs, providing them with financial security during a difficult time.
There are different types of life insurance policies, including term life insurance, which covers you for a specific period, and whole life insurance, which provides coverage for your entire life as long as premiums are paid. The cost of life insurance, known as premiums, can vary depending on factors such as your age, health, lifestyle, and the amount of coverage you choose.
Legacy Advice can assist you in finding the right life insurance policy tailored to your needs, ensuring that your family is protected financially in case of the unexpected.