Life insurance is a financial product that provides a payout to beneficiaries in the event of the policyholder’s death. It is a contract between the policyholder and the insurance company, where the policyholder pays regular premiums, and in return, the insurance company agrees to pay a lump sum, known as the death benefit, to the designated beneficiaries upon the death of the insured.
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Thanks for correction done in time and really Appreciated....!!