What is Life Insurance and How Does It Work?

What exactly if life insurance and how does life insurance work?Life insurance is protection against the death of an individual person in the form of payment to a beneficiary - usually a family-member, business, or institution.In exchange for a series of premium payments or a single premium payment, upon the death of the insured person, the face value of a life insurance policy, minus any loans

Defining Term Life Insurance

How do you define term life insurance?Term life insurance is defined as a life insurance policy that stays in effect for a specified, limited period of time.If the insured person dies within that period of time, the beneficiary receives the death benefit of the life insurance policy.If the insured outlives the term of the policy, the coverage expires, and the beneficiary receives nothing.Term