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okbimaofficial
@okbimaofficial
Term insurance is an essential type of life insurance plan that provides coverage for a specific period or term. It is important because it offers financial protection to the policyholder's family in case of the policyholder's untimely death. The policy pays a death benefit to the beneficiaries named in the policy if the policyholder dies during the policy term. This death benefit can help the family meet their financial obligations such as paying off debts, covering living expenses, and providing for future goals. Term insurance plans are affordable, and the premiums are relatively lower compared to other life insurance plans. Therefore, it is a smart investment for anyone who wants to secure their family's financial future.
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