Life is unpredictable, but your family’s financial future doesn’t have to be. That’s where life insurance comes in—a financial product designed to offer peace of mind by protecting your loved ones in the event of your untimely demise. At its core, life insurance is a contract between the policyholder and the insurance company. In exchange for regular premium payments, the insurer promises to provide a sum of money (the “death benefit”) to designated beneficiaries upon the insured person’s death.