Intro to Life Insurance

What is Life Insurance? 

At its most basic, life insurance is a contract between an insurer (the insurance company) and a policyholder. The contract guarantees that the insurer will pay an agreed sum of money (death benefit) to named beneficiaries when the insured dies. To guarantee the payment of a death benefit, the policy holder pays the insurer premiums until the insured dies and the insurer pays a death benefit or until the term of the policy runs out.  

Life insurance has become a lot more complex than a simple death benefit. It can also serve as a financial tool used for funding retirement, college planning, or new home purchases. Some policies offer opportunities for tax-advantaged loans and withdrawals from the policy. Riders can be added to a policy to offer different benefits. Some allow a portion of the death benefit to pay out while the insured is still alive, offering financial relief in the event of chronic or critical illness, disability, or critical injury.  

In the Introduction to Life Insurance, you will learn the basics of different insurance products and how to choose which products to offer your clients.