What exactly is life insurance?

Once you've reached certain life milestones, like as getting married, purchasing your first home, or welcoming your first kid, it's time to tackle the less-than-pleasant topic of how your family or other dependents will fare in the event of your death. Life insurance provides a safety net for your loved ones in the event that you die, which is especially crucial if someone is financially dependent on you.

Let's look at the fundamentals of life insurance, such as how it works, different types of life insurance, and more.