What is life insurance?
Life insurance provides a benefit to named beneficiaries when the insured person dies, subject to the terms of the policy.
Common coverage types
Term life
Coverage for a stated period, often used for income replacement or temporary obligations.
Whole life
Permanent coverage that may include cash value, subject to policy terms.
Final expense
Smaller permanent coverage designed to help with funeral and other final costs.
Living benefits
Certain policies may permit early access to part of the death benefit after a qualifying event.
What affects cost?
Age, health, coverage amount, product type, underwriting class, and carrier can all affect premiums and eligibility.
Frequently asked questions
What is the difference between term and whole life?
Term coverage lasts for a specified period. Whole life is designed to remain in force for life if required premiums are paid.
Will I need a medical exam?
That depends on the product, carrier, coverage amount, age, and health history.
Can premiums change?
It depends on the policy type and contract terms.
What are living benefits?
They are policy provisions that may allow access to part of the death benefit after a qualifying event.