When most people think about life insurance, they picture one thing: a policy that pays out to their family if they die. And while that's true for all life insurance, not all life insurance is created equal. Some policies do a lot more than just provide a death benefit — and understanding the difference could significantly change how you plan for your financial future.

If you've never heard of a Self-Insured Medical Reimbursement Plan — or SIMRP — you're not alone. It's one of the best-kept secrets in employee benefits, and it's especially powerful for school districts and their employees. At XO Financial, it's become one of the most impactful tools we bring to the educators and districts we serve.

So let's break it down in plain English.​