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Write a paper on insurance and consideration terms of life insurance
Length: 2 pages (550 Words)
Homework Assignment 5
Term life insurance is a life insurance that is characterized by fixed rate of payments for a particular period. The uses of term life insurance include settling consumers debt, catering for funeral costs, paying university education fees for the dependents of the insured person, and paying mortgages among other uses as per the terms and conditions of the payments. There are various forms of term life insurance, which a person chooses from. An individual might decide to choose a particular form of term life insurance by considering his or her retirement age. For instance, if a person retires or dies, his or her beneficiaries are assured of completing their education and have no need to worry about the debts available, since the insurance takes care of that.