Life Insurance Basics

Life insurance, more often than not, is a topic people technically want to avoid all together. But, in sake for our loved ones, it is something we recommend. With all that said, what is it to begin with?

​The following are points/terms to know the most "basic" aspects about it: 

• The Benefit (Death Benefit) - The amount that is paid in the event death occurs.
• Beneficiary - The person who receives the benefit.
• Underwriting - The carrier will determine the likelihood of death, to determine premium payments and policy.
• Premium - Payments to make to uphold the policy. 
• Term - How long the life insurance policy lasts.