Buying life insurance now provides a financial safety net for your dependents later if you're not around to take care of them. After you're gone, your family can use the proceeds to cover funeral costs, mortgage payments, college tuition and other expenses. read more
Given that you generally need life insurance only until you've managed to save up money elsewhere, just pick the term that dovetails with the time you need coverage. If you die during that term, your beneficiaries get a payout, known as the death benefit. read more
There are two main types of life insurance: Term life insurance is the easiest to understand and has the lowest prices. Permanent insurance is more complex and tends to cost more than term, but it offers additional benefits. Whole life is the most well-known and simplest form of permanent life insurance. read more
Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. read more