Definition: Affordable life insurance, also known as affordable death benefit (ADP) or a low cost death benefit, is an insurance policy that provides a lower premium than traditional term life policies. It covers a specified age range and pays out an amount based on the percentage of the life expectancy that is left when the insured reaches their designated age. The basic premise behind affordable life insurance is that the cost to pay for this type of coverage should be less than the cost to live, which can vary depending on several factors such as health status, family size, and lifestyle choices. The term "affordable" indicates that the policy's premium should not significantly exceed the expected costs associated with maintaining a healthy lifestyle. In summary, affordable life insurance is a type of death benefit insurance designed to provide individuals with a lower monthly cost compared to traditional term life policies. It offers coverage for specified age ranges and provides an amount based on the insured's remaining lifespan. The goal is to help those in need pay off their living expenses without sacrificing their financial stability.
closed bracket.
what should be said.