Pakistan Life insurance is a monetary benefit to a decedent’s family or other designated beneficiary, and may specifically provide for income to an insured person's family, burial, funeral and other final expenses. Pakistan Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity. Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies and regulated as insurance and require the same kinds of actuarial and investment management expertise that life insurance requires.
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