Tag: Estate Planning
-
The Role of Life Insurance in Financial Planning
Introduction to Life Insurance Life insurance is a contractual agreement between an individual and an insurance company, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. This agreement is contingent upon the payment of premiums by the policyholder. The fundamental purpose of life insurance…
-
The Role of Life Insurance in Estate Planning
Introduction to Estate Planning Estate planning is a critical process that involves the preparation and arrangement of an individual’s asset base in anticipation of their incapacitation or death. It ensures that an individual’s wishes regarding the distribution of their assets are honored, thereby providing peace of mind and financial security for beneficiaries. This meticulous planning…