Necessities of Life
Definition - What does Necessities of Life mean?
The necessities of life refer to food, clothing, shelter, and anything else that is a prerequisite to survival and a deterrent to premature death. Most of these items require money and are often insurable.
Insuranceopedia explains Necessities of Life
Health and long-term care insurance provide some of the necessities of life for policyholders. Likewise, disability insurance and workers compensation ensure a certain amount of income following disabling injuries or illness. These funds allow the insured to acquire necessities such as nourishment and shelter.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.