Respuesta :
Life Insurance - if you have dependents or other people relying on you for income, then life insurance will help protect them should you die. Taking out a life insurance policy will become payable upon your death. The amount of money you insure yourself for will determine your monthly premium. Term Life Insurance premiums will go up as you age, and Whole Life will stay the same. You also have the right to choose your beneficiary. It can be one person, or divided among multiple beneficiaries. Depending on the policy, you can also leave different percentages to different beneficiaries.
A legal contract between a person and an insurance company is called an insurance policy. It is a legal document that claims the payment to be paid by the insurer to the person insured.
The type of policy that is required to protect others is:
Life insurance
The policy can be explained as:
- This policy ensures the protection of members dependent on earners as the only source of income after their death.
- The amount the individual has insured for determines the monthly premium to the nominated person.
- Life insurance can be permanent including universal, whole and variable or can be term life insurance.
- It is important for the beneficiary as it provides money to the members nominated by the insured person.
Therefore, life insurance protects others only.
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