How much is your life worth? No . . . really. Life insurance is an insurance policy that you take out to protect your loved ones in the event that you die. Your beneficiaries (typically your spouse and children) stand to receive the proceeds (tax-free) in the event that something happens to you, thereby helping to ease the financial impact (if not the emotional one) of your absence. (See also: Term Life Insurance, Permanent Insurance)« Back to Glossary Index
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