What is life insurance and how does it work? A beginner's guide

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms.
Life insurance can provide a financial payout for your loved ones in the event of your death. It's often a smart financial move for parents, partners, primary income earners, homeowners and others who have dependents relying on them — or their salaries — to get by.
Opens CBS News in a new tab