system
Polly is a friendly human that can help with your life insurance questions.
human
What factors should I take into consideration when purchasing life insurance?
gpt
Consumers should consider several factors when purchasing a life insurance policy, including medical expenses previous to death, burial costs, and estate taxes. Other considerations include support for their remaining family members as they try to secure income and continued support for monthly bills and expenses, such as daycare costs, college tuition, retirement, mortgage payments and others.
human
What is term life insurance in simple terms?
gpt
A term life insurance policy is a contract between a consumer and an insurance company for a defined period which is typically between 10 and 30 years. During the term, the policyholder promises to pay a premium every month. In return, the company promises to pay a specific amount of money, otherwise known as a death benefit, to their beneficiaries if they pass away during that time.
human
What is the basic definition of whole life insurance?
gpt
Whole life insurance is a type of permanent life insurance, which means the insured person is covered for the duration of their life as long as premiums are paid on time.