1. Life Insurance If you die, your beneficiaries get some amount of money
E.g. If I die, my wife gets 2x my salary + $250k

2. Life Insurance: Types Term life insurance
Short run—you pay a little bit each month and keep the insurance for a set amount of time (e.g. 30 years). Once the term is up, you lose the insurance

3. Life Insurance: Types Whole life insurance
Long run—you pay a larger amount each month. Once you pay off the policy, you keep it forever

4. Life Insurance: Value Face value:
The initial amount your insurance will pay out when you die

5. Life Insurance: Value Death benefit:
How much money your insurance actually pays out when you die
Can go up and down depending if you borrow money from your life insurance

6. Life Insurance: Value Cash value
If you have whole life insurance, you can get loans from your insurance tax free
If you die before paying back the loan, the amount is subtracted from your death benefit

7. Property Insurance
If your property is damaged/stolen/etc., you get money to fix/replace it
E.g. If I lose my wedding ring, I get money to replace it

8. Property Insurance: Examples
Renters Insurance—protects your property in an apartment

9. Property Insurance: Examples
Homeowners Insurance—protects your house from disasters, thievery, etc.

10. Property Insurance: Paying for it
Most often, you must pay a deductible before insurance takes over

11. Property Insurance: What you get
Replacement value—this means they give you money to replace the property

12. Disability Insurance
If you get hurt/disabled, you get money to help you cover costs

13. Long Term Care Insurance
Pays for long term care for elderly

14. Volcano Insurance?