What Is Life Insurance And How Does It Work?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaLife insurance is a mortality product design to protect the beneficiaries of the policy insured against financial loss at the demise of the policy insured. The death benefit proceeds pass directly to the benefices, generally tax free. The product can be purchased as term life and/ or permanent life insurance.Answered on August 16, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Life insurance is insurance that pays out when the life of the insured person ends, or when the set time period is complete. All life insurance works by paying the beneficiary when the insured person dies. Some life insurance policies will also pay out while the insured person is alive, if the policy endows or if it returns all the premiums after a set amount of time.Answered on August 16, 2013flag this answer
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