Chapter 4: What is Life Insurance?

Table of Content

Life Insurance Basics

• Definition and purpose of life insurance.

Types of Life Insurance

• Explanation of term, whole, and universal life insurance.

Policy Components

• Understanding premiums, death benefits, and cash value.

Choosing the Right Coverage

• Factors to consider when selecting a life insurance policy.

Benefits and Considerations

• Pros and cons of life insurance, tax implications, and beneficiary designation.