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What is the primary purpose of life insurance?

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What is the primary purpose of life insurance?

Asked question is from why does insurance often provide peace of mind subject

I had been asked this question during an interview.

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What is the primary purpose of a life insurance policy?

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The correct answer by me is: The major purpose of life insurance is protection — the instant estate to meet survivor needs. Some policies include a savings feature, but there are many other ways to save money and make investments.

The title of my answer is Life Insurance, Purposes and Basic Policies | MU Extension

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