Life insurance is a policy that gives money to your family if something happens to you. It is a way to protect your loved ones financially in case of your death. When you buy life insurance, you pay a small amount (called a premium) every month. If you pass away, the insurance company pays a large amount (called a death benefit) to your family.
There are two main types of life insurance: term and whole life. Term insurance covers you for a set number of years, like 10 or 20. Whole life insurance lasts your entire life and builds cash value over time.
People buy life insurance to make sure their family can pay for expenses like rent, school fees, or loans after they are gone. It gives peace of mind.
Even if you are young and healthy, it’s smart to get life insurance early, as it costs less. The older or sicker you are, the more expensive it becomes.
In short, life insurance is not about death. It’s about caring for the future of the people you love. It’s one of the most important financial decisions you can make.
