I am considering adding life insurance to my critical illness plan what is it ?
Life insurance is a protection policy that will pay out a lump sum if you were to pass away. Life insurance was essentially invented in the 17th century. It was in Paris when an Italian named Lorenzo Tonti came up with the concept. It was in its earliest format it was basically gambling. He attempted to use the law of averages and the principles of life expectancies to establish polices.
Life insurance like a lot of financial tools is deigned to help you meet a specific goal. It will assist if there is an economic loss to the beneficiary if there was to be a death.
Life insurance does not normally cost a lot extra if you add it to your critical illness policy and in some instances it can be available at no extra cost. If insurance is relatively simple after all you are either dead or alive.