Common Questions, Clear Answers

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 Life insurance is a contract between you and an insurance company. You pay regular premiums, and in exchange, the insurer provides a payout to your beneficiaries upon your passing. This money can be used to cover expenses like funeral costs, debts, or financial support for your loved ones. 

 The amount of coverage you need depends on factors like your income, debts, and family situation. A good rule of thumb is to have enough coverage to replace your income for 5-10 years, pay off debts, and cover major expenses like your children's education. 

 Yes, getting life insurance while you're young and healthy typically means lower premiums. It can also provide peace of mind, especially if you have dependents or anticipate future financial responsibilities. 

You can name anyone as a beneficiary, including family members, friends, or even organizations. It’s important to regularly review and update your beneficiaries as life circumstances change. 

Yes, you can often adjust your coverage, especially with whole life or universal life policies. Some term policies also offer the option to convert to a permanent policy down the road.