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Life insurance, purpose/ benefits
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[QUOTE="Realekom, post: 297240, member: 94507"] Life insurance can be defined as a contact agreement between an insurance policy holder and an insurance company, where the insurer promises to pay a premium upon the death of an insured person or after an agreed period. PURPOSE The main purpose of life insurance is "protection", the quick estate to meet survival needs, some policies include money savings feature, but there are many other ways to save money and make investment. BENEFITS Life insurance can help replace your income if you happen to pass away. This means that your next of kin could use the money to help cover essential expenses such as paying a mortgage or college fees for kids. It can aswell be used to pay off debts such as credit card bills or an outstanding car loan. [/QUOTE]
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