Life insurance is unique among types of insurance in that it insures against an event (death) that will occur as opposed to an event that may occur. But, although death is a certainty, individuals buy life insurance to hedge against the time when death will occur. It's this focus on timing that makes the death benefit provided by life insurance different from other asset classes. That is, the timing of death is unrelated to the ups and downs of the economic market and helps to ...

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