We have changed our privacy policy. In addition, we use cookies on our website for various purposes. By continuing on our website, you consent to our use of cookies. You can learn about our practices by reading our privacy policy.


Life Insurance

Categories: Insurance, Retirement, Tax

Life insurance is kind of a weird term, especially considering that the entire "life insurance" industry is regulated differently from other investment, corporate, or religious entities.

Life insurance "policies" were originally created to protect the soon-to-be-widowed wives of professional loggers and lumberjacks. Members of a fraternity of lumberjacks would pay a couple cents out of their dollar to a pool, knowing that if they were crushed by a log tomorrow, their family would get a check from the fraternity for something. Something > nothing.

Check out our section on life insurance for all the details.

Find other enlightening terms in Shmoop Finance Genius Bar(f)