Sentences with phrase «original purpose of the life insurance»
Not exact matches
While life insurance has evolved to become a savings, investment, and tax optimization tool, the original and primary purpose is to provide a death benefit to beneficiaries upon the death of an insured.
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Thus, viatication somewhat defeats the original purpose of purchasing life insurance, but it does offer flexibility in determining how the policy proceeds will be used.
The original purpose to buy a life insurance plan was for «pure protection», meant to replace the lost income of a main breadwinner of a family.