Life Insurance | Estateplanning | Vibepedia.Network

Life insurance is a contract between a policyholder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. The policyholder typically pays a premium, either regularly or as one lump sum, and the benefits may include other expenses, such as funeral expenses. Life insurance policies are legal contracts with specific terms and limitations, including exclusions for events like suicide, fraud, and war.