Understanding Term Life Insurance

Think of this section as an "Insurance 101." We're answering some basic—but vital—questions here. Why have Life Insurance? Who needs it? What are the basic kinds?

What is Life Insurance? Very simply, it's a contract you have with a Life Insurance company. If you die while the contract is in force, the company will pay a death benefit to your beneficiary.

(Note: Within the first two years of the policy being in force, most policies will not pay in the event of suicide and in cases of death where there has been a material misrepresentation in the application)

Basics

> Top 10 questions about Life Insurance.

> If you use tobacco or have health problems.

> Glossary of Life Insurance Terms.

> Comparing Permanent and Term Life Insurance.