Once you’ve decided to protect your family with life insurance, it’s an important thing to understand your coverage. Reading your life insurance policy can help you to completely understand your benefits and obligations. Life insurance policies generally include standard sections. Knowing the typical sections of a life insurance policy and knowing what those sections contain can help you review your policy.

Life Insurance


The first pages of life insurance are usually a high-level summary. You will probably find basic information there on the amount of the insurance benefit, the amount of the payments and the name of the insured. Many insurance companies include a cover sheet with the following policy:
-Name of the insurance company.
-Type of plan (for example duration, lifetime or universal)
-Conditions of the policy review period (during which the owner can cancel a new policy without penalty)
-Signature of an insurance company manager.
The first part of your current policy is usually the performance and specification program or the declaration page. The information in this section should be known, as you will likely have discussed it with your agent during the application process. It generally includes the following:
-Benefit amount (sometimes called nominal amount)
-Amount of your payments (sometimes called a premium)
-Name of the insured
-Date of policy issue
-Police number
-Payment class (sometimes called fare class)


The most important details of the policy are described in the Insurance contract section. This includes what the insurance company covers and your rights as an owner, for example, B. changing the beneficiary and, if necessary, taking out loans against the cash value of the contract. The insurance contract consists of a number of small sections which vary depending on your specific policy. They can include:

Tables Or Figures.

They are used to indicate any future premiums, details of the present value and death benefits. They can also show how insurance costs can fluctuate over time.


Most policies include a section that defines terms used in the policy. If you know what the terms mean, you can better understand the guidelines.


This section provides instructions on how a beneficiary can submit a claim and on the options available to receive insurance benefits.

Notes And Pilots.

This section lists additional coverages that make policy changes or additional benefits.


Additional provisions may be included in your life insurance. The state insurance policy, the insurance company and the type of policy you buy determine the conditions of the policy. The general provisions include:

Your Request

Most states view the insurance contract as a claim and insurance together.

Evidence Of Incontestability.

This specifies the period during which a life insurance policy can be challenged due to potentially inaccurate information about the application. Assuming premiums have been paid, insurance companies can usually only review the proposal within the first two years of the term of the contract.

Grace Period.

If you miss a payment, most policies give you some time to make a payment before the policy expires.
Do you need help reviewing your policies? Contact your local insurance agent. The Insurance Information Institute also recommends that you review your insurance policy annually, as well as major life changes, to ensure that the policy continues to meet your needs.