What Does Life Insurance Cover You For?

If you're shopping for a life insurance policy you may be wondering what it is life insurance covers you for.

Actually, a life insurance policy pays out a death benefit to your beneficiary upon your death, subject to the terms, conditions and exclusions stated in your life insurance contract.

A covered cause of death may include natural causes, accidents and suicide, if the suicide occurs after the suicide exclusion period - usually 2 years, but one year in some states.

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Who Does Life Insurance Cover?

Life insurance is a written contract between the insurance company and the life insurance policy owner.

The owner of the policy agrees to pay premiums to the insurance carrier in return for the carrier paying out a death benefit upon the death of the insured person, subject to the terms and conditions of the life insurance policy.

Life insurance covers the insured person, which is the person named as insured on the life insurance policy.  ​

If the insured person dies there is a death benefit paid out to the beneficiary of the policy, subject to the terms and conditions of the life insurance policy.

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