Life insurance is a financial contract in which an insurer promises to pay a specified death benefit to designated beneficiaries upon the death of the insured, in exchange for premium payments. Its primary purpose is to provide financial protection against the economic loss caused by a person's death, helping survivors replace lost income, pay debts, fund education, cover final expenses, or preserve a business or estate. Life insurance comes in various forms, including term, whole life, universal life, indexed universal life, variable life, and hybrid policies that may also offer living benefits such as chronic illness or long term care riders. Favorable tax treatment of death benefits and potential tax deferred cash value growth make life insurance a powerful planning tool.

In everyday use, advisors position life insurance as the cornerstone of family protection and an essential component of business and estate planning. They assess client needs, recommend appropriate coverage amounts and product types, and help structure ownership and beneficiaries to align with goals. For families, life insurance can pay off mortgages, replace income, and create college funds. For business owners, it can fund buy sell agreements, protect against the loss of key people, or support executive benefits. In estate planning, life insurance often provides liquidity to pay taxes or equalize inheritances among heirs. Advisors also periodically review in force policies to ensure that coverage remains adequate and cost effective as life circumstances change. By understanding the full range of life insurance products and applications, producers help clients manage risk, build resilience, and use insurance strategically to support long term financial security.