A life insurance policy ensures that the dependents of the policyholder are financially protected if that person passes away. It does this by paying out a predetermined sum to the beneficiaries of the policy. It also can be used for cash, depending on the policy type chosen.

While life insurance coverage is typically purchased by the policyholder, it can also be given as a gift. 

If you're in the market for life insurance - either for yourself or as a gift for someone else - start by getting a free online price quote now so you know exactly what to expect.