The beneficiary of a life insurance policy (especially if a spouse) will consider the proceeds as a replacement for the other spouse's income in the event of an untimely death.
If the spouse earns $40,000 income, and the life insurance provides a death benefit of $1,000,000, it can be invested and the interest on the investment can be used to help replace the income of the deceased spouse.
Life insurance is often used as a form of financial security in the way of income replacement of a spouse, to provide money for living expenses, education, retirement, paying off debts, paying the mortgage, and other financial necessities.
Here's how you can learn about term life insurance and how it works. Term life is the most affordable type of life insurance protection, offering the most life insurance at the lowest price.
If the spouse earns $40,000 income, and the life insurance provides a death benefit of $1,000,000, it can be invested and the interest on the investment can be used to help replace the income of the deceased spouse.
Life insurance is often used as a form of financial security in the way of income replacement of a spouse, to provide money for living expenses, education, retirement, paying off debts, paying the mortgage, and other financial necessities.
Here's how you can learn about term life insurance and how it works. Term life is the most affordable type of life insurance protection, offering the most life insurance at the lowest price.
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