Sometimes we get questions about how exactly an insurance policy works. It’s not unusual to have a question or two – everyone’s situation is unique and insurance can seem confusing at times.

Luckily, it isn't as complicated as you might think.

Here's how it works:

Life insurance companies provide a safety net for people and families across the country by providing a lump-sum payment in the case of the insured's death.

In a nutshell, you pay a premium (fancy way of saying “money”) on a monthly or yearly basis to reserve a benefit (fancy way of saying “money that will help the people that depend on you”) in case you pass away.

It’s kind of like subscribing to Netflix®, except instead of getting to binge-watch movies and TV shows, you’re getting a safety net for yourself and the people that depend on you. It might not be as fun, but it's probably more important.

When starting to research life insurance needs, we recommend you ask yourself three questions first:

• Determine whether or not you need life insurance

• Determine which type of coverage you need (term vs. whole)

• Determine how much coverage you need

This online guide will help you answer those questions, plus more!

If you have more questions about how insurance works, send us an email or give us a call toll-free at 855.348.3091.