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Life is as fragile as a dewdrop. All we can do is accept this fragility and find ways to lessen the risks and the pain of losing a loved one.
One way to protect your family from risks brought by a death in the family or your death as the breadwinner is to buy a life insurance policy for yourself with your family as beneficiaries.
The life insurance rate that you will be paying will depend on the range of coverage you wanted. The more coverage, the higher your insurance rate will be.
There are two types of life insurance: term life and whole life. Whole life insurance is in effect as long as the insurance policy holder is alive. Term life, on the other hand, is in effect only within specified periods, such as 10 years, 20 years or 30 years.
Both types of life insurance can have the same coverage, but will not have the same extra benefits. Extra benefits may include interest earning premiums, which can increase the amount of money the insurance policy owner can get when the policy has matured.