If you are reading this article, you’re probably considering purchasing life insurance; and you probably have a few questions. Maybe you’ve already explored the topic thoroughly or, on the other hand, perhaps you’re just getting started. There are many things to consider about life insurance. But with the articles we provide here at eLifePolicy.com, the choice should turn out to be fairly easy. And when you decide it’s time for you to buy, we’re confident that our automated, web-based system will make the process easy, fast and convenient for you.

What is Life Insurance?
Let’s begin with a working definition of life insurance: In simple terms, the life insurance policy is a contract of insurance between a policyholder and a life insurance company with the policy promising to pay a specified amount of money to the beneficiary upon the death of the insured person. OK, that’s what we call a textbook definition but perhaps what’s more important to know is what it can do for you and your family. Simply put, a life insurance policy is protection against the financial loss that would result to those who depend on you if you unexpectedly died. The person who is named as your beneficiary would receive the tax free cash benefits (also known as the Coverage Amount or Face Amount from the life insurance company, helping to protect your family from any undue financial distress. Life insurance protects your loved ones in case the unforeseen happens and provides some financial security for your family in the event of your death.

If You Are No Longer There to Provide Financial Security, Life Insurance Does the Job
Having life insurance protection makes the future more secure for your family, so that they can be certain that the costs of funerals, medical bills, food, mortgage or rent payments, clothing and the basic necessities of life are covered. Dealing with the death of the family breadwinner results in a great deal of emotional pain, but with a life insurance policy in place, at least the surviving family need not worry about financial pressures. Instead, life insurance assures your family that there will be enough money for mortgage payments, credit card debts or potentially for college if there are youngsters. When you purchase a life insurance policy, you are assuring your family of the standard of living you would want your dependents to maintain if you were no longer there.

Reasons People Buy: Marriages, Babies, Home Purchases and More
Over the many years, we at eLifePolicy have observed that people buy life insurance policies when they are going through important life events and life stages. When there is a major change such as an impending marriage, the birth of a new baby and the buying of a new home, it is a good time to evaluate your situation and ask yourself if those who depend on you financially would need life insurance benefits if you should pass away. Because all of these life-changing events can impact significantly on your life, they should be taken into consideration when thinking about buying life insurance.

Some Common Life Insurance Definitions
Please review our Glossary of Terms which will familiarize you with the language when it comes to purchasing a Life Insurance policy.

About the Author:
Mr. Sy Alter is a Chartered Life Underwriter and a veteran insurance professional with more than three decades of experience in the life insurance arena. Mr. Alter specializes in areas of insurance, estate planning, buying and selling insurance, deferred compensation and corporate benefits. He maintains a solid track record of success working closely with families, doctors, lawyers and high profile individuals and businesses. Mr. Alter has also developed a lofty level of expertise providing life coverage to individuals with health impairments ranging from by-pass surgery, hepatitis, diabetes, sleep apnea as well as various types of cancers and other maladies. Mr. Alter has been guest speaker at the Financial Executives Institute as well as many other professional meetings and conferences. As President of Spectrum Direct, he is available for consultations and speaking engagements and can be contacted by e-mail at salter@spectrumdirect.com or by phone at 949.600.7901.