What is the difference between term insurance, life insurance and health insurance?

In the event of your early death, life insurance pays a big lump sum to your beneficiaries. The idea is that the death benefit will be enough to cover the expected expenditures in the future and cover outstanding expenses and responsibilities like funeral costs, medical bills. Despite your loss and salary capacity, this provides financial stability to the family, ensuring that they do not struggle.

Health Insurance: Medical expenses such as doctor's visits, hospital stays, medications, tests, and treatments are covered by health insurance. It makes it easier for people to pay for medical care and stay healthy. 

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