Simple guidance to help you understand how life insurance works and what type of coverage may fit your family.
The Basics
Life insurance is a policy designed to help protect the people who depend on you financially. If something happens to you, the policy can provide a tax-free death benefit to your beneficiaries, helping cover income loss, bills, debts, final expenses, or future needs.
Common Reasons
Help replace lost income so your family can maintain their lifestyle.
Help ensure housing payments are covered if you are no longer there.
Help pay down loans, credit cards, and other obligations.
Help with funeral, burial, and end-of-life costs.
Support education, childcare, and long-term goals.
Create a financial legacy for the people you care about.
Help fund buy-sell agreements, estate taxes, or transitions.
Coverage Types
Affordable coverage for a set amount of time, such as 10, 20, or 30 years. Good for income protection, mortgage protection, and younger families.
Permanent coverage designed to last for life as long as premiums are paid. Can build cash value over time.
Flexible permanent coverage that may allow premium and death benefit adjustments, depending on the policy.
Permanent life insurance that can build cash value based partly on market index performance, with downside protection features depending on the policy.
Smaller life insurance policies designed to help cover funeral costs, burial costs, and end-of-life expenses.
Planning
A common starting point is 10 to 15 times your annual income, but the right amount depends on your mortgage, debts, children, income, final expenses, and long-term goals.
The Process
Share basic information
Compare options
Choose a coverage amount
Complete application
Underwriting review
Policy approval and delivery