Life insurance is a policy that gives money to your family if you die. It’s a way to take care of your loved ones, even when you’re not there.
How it works:
- You pay a small amount regularly (monthly or yearly).
- If you die during the policy term, the company pays a large amount to your family (called a “death benefit”).
There are two main types:
- Term Life Insurance – lasts for a fixed time (like 10 or 20 years). It’s cheaper.
- Whole Life Insurance – lasts your entire life and costs more. Some plans also save money (called cash value).
Who needs life insurance?
- Parents
- Breadwinners
- Business owners
- Anyone with dependents
It’s a smart way to protect your family’s future.
