Life Insurance EDUCATION

Life Insurance

Life insurance  is risk  management protection against the loss of income that would result if the insured passed away.  the financial impact of the death . It is a form of  primarily used to  against the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. 

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate  the insured in the case of a financial (personal) loss. The insured receives a , called the , which details the conditions and circumstances under which the insured will be financially .