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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 a policy being in force, most insurance companies will not pay in the event of suicide or 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

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