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.

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 …

Accidental Death & Dismemberment (AD&D) insurance provides a financial benefit to a beneficiary if the insured dies or is severely injured (dismembered) due to a covered accident. AD&D only pays out for accidental death or dismemberment, not for …