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Question

Answer the following questions in six sentences each:
Why is life insurance essential?

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Solution

LIfe Insurance is essential because of the following reasons:
  1. To ensure the financial support at the time of death or disability of a person.
  2. For children’s educational and other needs.
  3. Constant source of income after retirement.
  4. For savings plan.
  5. Ensure monetary help when the earnings are reduced / stopped.
  6. Financial contingencies in the event of unexpected happenings.

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