Term Life Insurance
It is one of the most affordable and popular types of life insurance offering significant coverage at a relatively low cost. These policies typically last for 10, 20 or 30 years.
The coverage could be $100,000 - $500,000 and more with a monthly premium of $75.
According to financial experts, this policy fits for family protection during times of greatest financial liability, such as mortgage payments or raising children.
Guaranteed Issue Life Insurance
This type of insurance does not require a medical examination and is often available to people with chronic illnesses or poor health. Therefore, the payouts here are lower, from $10,000 to $50,000.
Such policies are often used to cover funeral expenses.
Life insurance for $75 a month can provide significant coverage and protect your family from financial hardship.
Source: https://www.businessinsider.com/life-insurance-policy-end-poverty-cycle-2024-5
Photos are from open sources.
