MANAGEMENT

Detailed explanation-1: -Life insurance works by providing a death benefit in exchange for paying premiums. One popular type of life insurance-term life insurance-only lasts for a set amount of time, such as 10 or 20 years.

Detailed explanation-2: -Life Insurance Coverage Life insurance is designed to provide a measure of financial security for your loved ones if you pass away. These policies allow you to name a primary beneficiary and one or more contingent beneficiaries to receive a death benefit should you pass away.

Detailed explanation-3: -Common types of life insurance include: Term life insurance. Whole life insurance. Universal life insurance.

Detailed explanation-4: -Term insurance plans are life insurance plans which promise to pay a benefit only if the insured dies during the term of the policy. There is, usually, no maturity benefit payable under the plan. Term plans are, therefore, called pure protection plans.