Life insurance is a type of policy where the insured pays regular premiums, and in return, the insurance company will pay a set sum of money to beneficiaries designated by the policyholder if the policyholder dies.
Those with children or dependents should seriously consider purchasing life insurance in order to protect their loved ones in the unfortunate event of their passing.
Members can choose the term of their insurance coverage (5 years to 40 years) and the dollar amount of coverage ($100k to $3mm+). These decisions will impact the premiums paid.
