Life insurance is a contract between an individual and an insurance company that provides financial protection in the event of death or illness. It pays out a lump sum to the policyholder’s family or other beneficiaries if they pass away, helping them to maintain their lifestyle and pay for funeral costs. Life insurance can also provide income replacement if the policyholder becomes disabled or ill, allowing them to maintain their standard of living while they are unable to work. There are many different types of life insurance policies available, so it’s important to research your options carefully before making a decision. Whitaker Wealth Management Services, LLC will help you with this.