Life insurance and basic guidance
1. Economic justification for life insurance If a family member earns a periodic income that the family members depend on to support, educate, care for and satisfy their needs, his early death, leaving family members and unpaid debts, will expose them to a violent financial crisis and economic instability. Before his death, and when the family dies, the family is exposed to the following losses or crises: * Final expenses / last expenses, which are the obligations incurred by the family member at the end of his life, such as his pre-death hospital bills, funeral expenses, debts, credit card, taxes and attorneys' fees. The family is supposed to dispose of the last expenses immediately after death * The family's lack of periodic income from which she lived during the family life Therefore, the purpose of life insurance is to pay a lump sum in the case of the death of the family member to pay the last expenses, and the remainder of this total amount is deposi...