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exactly what hat is life insurance

What is Life Insurance?

by Scott G on October 29, 2012

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So exactly what is life insurance?   One of the best definitions that I came across was from Wikipedia.  It defines life insurance “as a contract between and insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.” en.wikipedia.org/wiki/Life_insurance.  This basically means if you pass away the life insurance company has to pay the out the money to your beneficiary.  A life insurance policy is a contract, so generally as long as you aren’t subject to one of the exclusions (typically there are 2 […]