Life insurance is a contract between an insurance policyholder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as …

Final expense insurance is a life insurance policy that has a lower death benefit, usually intended to cover final expenses and burial costs. Also known as burial insurance or funeral insurance, it is designed for older adults who are ready to make …

Permanent life insurance for a child is called "juvenile life insurance" (generally under age 18). It is a tool for financial planning that offers a tax-advantaged way to save money that could pay off for a lifetime.

Mortgage protection insurance is a type of life insurance designed to pay off your mortgage if you were to pass away. Prices range depending on the length of coverage and amount of coverage. By not having Mortgage Protection, the price can be a …

Service Group Life Insurance (SGLI) allows discharged veterans 120 days to convert the group coverage to an individual, cash-value permanent insurance policy without a medical exam. Veterans have the option of converting their spouse's group …

An insurance contract is issued and distributed by financial institutions with the intention of paying out invested funds in a fixed income stream in the future. Clients invest in or purchase annuities with monthly premiums or lump-sum payments.