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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.)


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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