This text covers all the topics that constitute the foundation for the study of more specialized aspects of life insurance. Topics includer term insurance, whole life insurance, universal life insurance, variable life insurance, policy illustrations, tax treatment, family and business uses of insurance, risk measurement and classification, time value of money, reserves, net and gross premiums, surrender values, reinsurance, regulation, types of carriers, group life insurance, and the incontestable clause. With an emphasis on primary principles, McGill's combines theory and principles of life insurance with applications in today's dynamic environment.