What Is Life Insurance? Life insurance is a contract between an insurer and a policyholder. A life insurance policy guarantees the insurer pays a sum of money to ...LinkedInwithBackgroundLifeInsuranceGuidetoPolicies&CompaniesFACEBOOKTWITTERLINKEDINPartOfGuidetoLifeInsuranceExploreTheGuideOverviewLifeInsuranceBasicsOverviewBestAgetoGetLifeInsuranceIsLifeInsuranceaSmartInvestment?WhattoExpectWhenApplyingWholeLifevs.UniversalLifeInsuranceHowtoGetLifeInsuranceBestLifeInsuranceTermLifeInsuranceOverviewTermLifeInsuranceExplainingTermInsuranceGroupTermLifeInsuranceBestTermLifeInsuranceWholeLifeInsuranceOverviewPermanentLifeInsuranceCashValueLifeInsuranceWholeLifeInsuranceBestWholeLifeInsuranceUniversalLifeInsuranceVariableUniversalLifeInsurance(VUL)IndexedUniversalLifeInsuranceOtherTypesofLifeInsuranceOverviewPaid-UpAdditionalInsuranceDefinitionAdjustableLifeInsuranceGuaranteedIssueLifeInsuranceFinalExpenseInsuranceBurialInsuranceRidersOverviewLetRidersDriveYourCoverageAcceleratedBenefitRiderDisabilityRiderDreadDiseaseRiderFamilyIncomeRiderReturn-of-PremiumRiderWaiverofPremiumRiderLong-TermCareRiderRaisingMoneyFromYourLifeInsuranceOverviewBorrowingFromYourPolicyCashinginYourPolicyCashSurrenderValueCashValuevs.SurrenderValueLifeInsurancevs.IRAforRetirementSavingHowPolicyPayoutsWorkTaxationonLifeInsurancePoliciesOverviewTaxesonLifeInsurancePremiumsLifeInsurancePolicyLoan:TaxImplicationsWhatIsaTax-Free1035Exchange?IsLifeInsuranceTaxable?TableofContentsExpandWhatIsLifeInsurance?WhoShouldBuyLifeInsurance?HowLifeInsuranceWorksTypesofLifeInsuranceLifeInsuranceRidersHowMuchLifeInsurancetoBuyQualifyingforLifeInsuranceAdditionalUsesforLifeInsuranceWhatIsLifeInsurance?Lifeinsuranceisacontractbetweenaninsurerandapolicyholder.Alifeinsurancepolicyguaranteestheinsurerpaysasumofmoneytonamedbeneficiarieswhentheinsuredpolicyholderdies,inexchangeforthepremiumspaidbythepolicyholderduringtheirlifetime.KeyTakeawaysLifeinsuranceisalegallybindingcontract.Forthecontracttobeenforceable,thelifeinsur