When you die, the people around you may need to cover certain expenses quickly. Life insurance is a popular option to meet that need.
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Wrong answer!
Life insurance allows you to give money to one or more people you have named as beneficiaries. The money can cover funeral expenses, pay off certain debts, or provide financial support for your loved ones, among other things.
What your life insurance policy does not do is decide who will inherit your belongings. That is decided in your will.
