It would be more accurate to say life insurance insures one’s life against death.
Some life insurance policies can offer both death and living benefits. A living benefit rider allows you to tap into your policy’s death benefit while you’re still alive. This type of rider can be beneficial in situations where you’re terminally ill and need funds to pay for medical care. Life insurance is a way to protect the financial future of your family or business (and your own peace of mind).

There are different types of life insurance policies, but they all have one thing in common: they’re designed to protect your family. Permanent life insurance policies will allow you to access the cash portion of your account while you’re alive. Term life insurance, meanwhile, does not have a cash element for policyholders to access.

So, if you’re planning on using your life insurance as a backup cash resource you’ll want to avoid term policies.
For more information visit my Linktr.ee or call me at (647) 823-1053 to get a your FREE consultation today. Best Regards, Lineth Orea.