Life insurance benefits are paid to named beneficiaries in case of death. The term of benefit is generally stated as the amount of time which you have received your payments or the maximum amount of time which you have been covered. Generally, the insured pays a lump sum when death occurs to the insured. If this is the only lump sum paid, then the term is for the life of the insured only.
There are many types of insurance benefits in several states. Most common among these are dental and life insurance options. These two insurance benefits are state-to-state and may provide dental and life care services to the insured beneficiaries when the insured dies during or after the specified period of coverage. In most states dental coverage is usually provided for free. The other states require you to pay for the whole of the premium.
Life insurance benefits help protect your family members from financial hardship in case you die. This type of coverage can help pay for the burial expenses and also for estate taxes. Some life insurance policies provide cash settlements if the insured person has a terminal illness within the specified time period. Such cash payments can help defray the expense required for the burial and provide funds for the remaining family needs. If your loved one was a smoker, quitting can help protect the surviving family members from health care costs.