Life insurance is unfortunately not a priority for many Americans — so much so that 43 percent have no insurance policy at all, according to a study by insurance research analytics firm Policygenius.

This willful ignorance is somewhat understandable — no one really enjoys talking about death, and the uncomfortable nature of these conversations lead many to skim over the fine print. But understanding your plan is important to make sure your loved ones are financially prepared for after you're gone.

If you've been putting off purchasing life insurance — or are looking to better understand the benefits you already have — this video breaks down the basics so you can prepare confidently.

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