BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Life insurance covers most causes of death, including natural and accidental causes, suicide, and homicide.
Detailed explanation-2: -If you pass away, the life insurance company can pay out a death benefit to the person or persons you named as beneficiaries of the policy. Some life insurance policies can offer both death and living benefits. A living benefit rider allows you to tap into your policy’s death benefit while you’re still alive.
Detailed explanation-3: -Why is life insurance important? Buying life insurance protects your spouse and children from the potentially devastating financial losses that could result if something happened to you. It provides financial security, helps to pay off debts, helps to pay living expenses, and helps to pay any medical or final expenses.