life insurance

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Life insurance is a contract between an insurance company and a policy holder that provides financial security to the policyholder's loved ones after they die.

When the policy holder passes away, the insurance company pays a sum of money, called the death benefit, to the beneficiaries named in the policy.

Life insurance can help pa for: burial costs, living expenses, bills and education.

Some types of life insurance policies can also provide benefits while the policy holder is alive.