Understand Your Life Insurance Options
Life insurance comes in several forms, each designed for different needs, budgets and stages of life. Explore the main types of coverage below to understand how they work and which options may be worth considering.
Common Life Insurance Questions
What is life insurance?
Life insurance provides a death benefit to your beneficiaries if you die while the policy is in force.
How much life insurance do I need?
Your needs can depend on income, debts, mortgage obligations, dependents, education costs and other financial goals.
What is the difference between term and permanent life insurance?
Term insurance covers a set period, while permanent insurance can provide lifelong coverage and may build cash value.
How much does life insurance cost?
Premiums vary based on age, health, smoking status, coverage amount, policy type and other underwriting factors.
Do I need a medical exam?
Not always. Some policies use simplified or guaranteed-issue underwriting, while others may require an exam.
Can I have more than one life insurance policy?
Yes. Some people use multiple policies to cover different financial needs or stages of life.
Who should I name as my beneficiary?
A beneficiary can be a person, trust or other eligible entity you choose to receive the policy benefit.
When should I buy life insurance?
Many people consider coverage when they have dependents, take on a mortgage, get married, start a family or have other financial obligations.