First, consider the different types and what makes them different
Term life: If you're looking to provide financial protection for those relying on your income until your children are grown or until you retire, then term life insurance may be the right option for you. You can choose the term length of your coverage from five to 30 years. Once that term has ended, your coverage expires—unless you renew it prior to that date. Best life insurance.
Final expense: If you simply need protection to cover the costs of burial expenses, then a final expense policy may be a good choice.
Permanent life: If you want a policy that lasts your entire lifetime—or offers the option to withdraw funds (if needed) from your policy while you're alive, you may want to consider whole life insurance. This may also be the best option for you if you want to leave an inheritance, as coverage lasts your entire lifetime.
How long will your loved ones need coverage?
If you're already starting to determine "how long," then term life may be best for you. It offers more affordable premiums (for similar dollar amounts).
Affordable term life insurance quote
Consider these questions:
Do you have a spouse, partner, or other family member that relies on your income for financial support? How many years would they still need your salary to maintain their lifestyle?
Do you have sufficient retirement funds that could assist them for years to come?
Do you have younger children that require child care or have other educational needs? If so, do you have a plan—or do they—to attend college? For how long? Public or private institutions? When will that start?
Do you have a mortgage and when will that end?
Please note: The above is meant as general information to help you understand the different aspects of insurance. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provisions, limitations, or exclusions expressly stated in any insurance policy. Descriptions of all coverages and other features on this page are necessarily brief; in order to fully understand the coverages and other features of a specific insurance policy, we encourage you to read the applicable policy and/or speak to an insurance representative. Coverages and other features vary between insurers, vary by state, and are not available in all states. Whether an accident or other loss is covered is subject to the terms and conditions of the actual insurance policy or policies involved in the claim. References to average or typical premiums, amounts of losses, deductibles, costs of coverages/repair, etc., are illustrative and may not apply to your situation. We are not responsible for the content of any third-party sites linked from this page.