Life insurance is good to have, especially if you have a family who depends on you for support. The coverage helps your family to survive when you die. Once you are covered, share the policy information with your family so they know to file a claim upon your death.
Most people are not financially wealthy enough to not have life insurance. These policies can help put your kids through school, give them the basics they need and stabilize the family when you are no longer able to help.
Life insurance pays out in the event of the policyholder’s death. Your family will need the death certificate as proof you are dead before they can file a claim. The insurance company will then pay the claim.
The amount of coverage depends on how much you choose. Make sure to get an amount that is going to fully help care for your family or at least cover funeral expenses. It is also important to keep your coverage active by paying your premiums. Never let the insurance lapse.
Life insurance policies are for protection in the event of your death. Your family will appreciate knowing you care for them even in death.