Life insurance pays money to your family or beneficiaries when you die. Different types of policies work in different ways: some cover you for a set number of years, others last your whole life, and some combine insurance with savings. The cost, coverage amount, and how long protection lasts all depend on which type you choose. Understanding these differences helps you figure out what might work for your situation and budget.
These articles explain how term, whole, and universal life insurance work, what you might pay in premiums, how death benefits get paid out, and what happens to your policy over time. You'll learn what makes each type different and what questions to ask when comparing options.