Life insurance has been available for purchase in the United States since the mid-1700s. Life insurance protects human life value by creating an estate. Effectively, this means that when the person who is covered by insurance (referred to as "the insured") dies, a definite sum of money (called a death benefit) is paid to a beneficiary.
Among many uses, a death benefit, can be used to meet current obligations of the survivors such as the mortgage and medical bills, to pay for future expenses (e.g., college, weddings, etc.) and to serve as continuing income for the beneficiary.
Dwayne has had his own personal journey with the value of life insurance. Read his personal story below (an excerpt from "A Path to Financial Peace of Mind").