Why Life Insurance Is Needed. This is the case with lemonade life, when you want to arrange a term life insurance policy without a medical exam. The two main types of coverage life insurance companies offer are term and permanent life.
Life insurance is a valued contract. When you take a home loan, you create a new financial liability and taking a life insurance policy to cover the home loan liability will ensure that the legal heirs inherit the house and not the home loan liability. Life insurance is meant to protect families from loss of income.