Understanding Life Insurance

Life insurance terminology doesn't have to be confusing. Here are definitions of the most common terms and phrases you'll find in a policy.

Once you officially have life insurance, you’ll get a policy that goes into the nitty-gritty of your coverage. We’ve broken down what it all means.

The death benefit is the tax-free payout your beneficiaries receive if you die; it's essentially what you're paying for when you sign up for life insurance coverage.