• Life insurance is a type of insurance that provides financial protection to the policyholder's beneficiaries in the event of their death. The policyholder pays a premium to the insurer, who agrees to pay out a death benefit to the policyholder's beneficiaries in the event of their death. Life insurance can be used to cover the policyholder's debts, funeral expenses, and provide for their loved ones in the event of their death.

​

• There are two main types of life insurance: term life insurance and permanent life insurance.

•  Term life insurance provides coverage for a specified period of time, typically ranging from one to thirty years. If the policyholder dies during the term, the insurer pays out the death benefit to their beneficiaries. If the policyholder outlives the term, the coverage ends and no death benefit is paid.

​

• Permanent life insurance, on the other hand, provides coverage for the policyholder's entire lifetime. This type of insurance combines a death benefit with an investment component, which allows the policyholder to build up cash value over time. The policyholder can borrow against the cash value or use it to pay the premiums.

​

• Overall, life insurance can provide peace of mind and financial protection for the policyholder's loved ones in the event of their death. It is important to carefully consider your needs and options when choosing a life insurance policy. An insurance agent or financial advisor can help you determine the best type and amount of coverage for your situation.