Life insurance guides
Term or whole life? How much cover? Clear explanations to help you think it through before you speak to anyone selling a policy.
Term vs. Whole Life Insurance
Term life covers a set number of years at a lower cost; whole life lasts your lifetime and builds cash value. Compare costs, features and trade-offs.
Read guide · 8 minLife insurance basics
How life insurance works and whether you need it.
How Life Insurance Works: A Plain-English Guide
Life insurance pays a death benefit to your beneficiaries in exchange for premiums. Learn the key players, how underwriting works and what happens at each stage.
6 min readRead guideDo I Need Life Insurance? A Practical Checklist
Not everyone needs life insurance. Use this checklist of life situations, plus the cases where it may not be needed, to think through whether coverage fits you.
6 min readRead guideGroup Life Insurance Through Work vs. Individual Coverage
Employer group life is convenient and often cheap, but it may end when you leave. Compare group and individual life insurance, including the IRS $50,000 tax rule.
7 min readRead guideTypes of policies
Term, whole, universal, riders and other options.
Term vs. Whole Life Insurance
Term life covers a set number of years at a lower cost; whole life lasts your lifetime and builds cash value. Compare costs, features and trade-offs.
8 min readRead guideUniversal Life Insurance Explained: Types and Trade-Offs
Universal life is permanent insurance with a flexible cash account. Learn how it works, how indexed and variable versions differ, and what can cause a lapse.
6 min readRead guideFinal Expense (Burial) Insurance Explained
Final expense insurance is a small whole life policy meant to cover funeral and end-of-life costs. Learn how it works, graded benefits, costs and alternatives.
7 min readRead guideNo-Exam Life Insurance: Pros and Cons
No-exam life insurance skips the medical exam but usually still asks health questions. Learn the types, how prices and limits differ, and who it may suit.
6 min readRead guideConvertible Term Life Insurance
A convertible term policy lets you switch to permanent coverage without a new medical exam. Learn how conversion works, its deadlines, costs and trade-offs.
6 min readRead guideLife Insurance Riders Explained
Riders are optional add-ons that change a life insurance policy. Learn common riders such as waiver of premium and accelerated death benefit, and what they cost.
6 min readRead guideMortgage Protection Insurance vs. Term Life
Mortgage protection insurance pays your home loan if you die, while term life offers more flexibility. Compare payout, cost and control to see how they differ.
6 min readRead guideCash Value: Loans, Withdrawals and Surrendering a Policy
How cash value in permanent life insurance works and what happens when you borrow, withdraw or surrender. Covers MEC rules, surrender charges and 1035 exchanges.
7 min readRead guideBuying and pricing
Medical exams, term lengths and what affects your price.
How Much Life Insurance Do I Need?
Learn common ways to estimate how much life insurance you may need, from simple income multiples to the DIME method and a full needs analysis.
7 min readRead guideHow to Choose a Term Life Insurance Length
Choose a term length by matching coverage to how long your family would need it, from a mortgage to kids' school years. See common lengths and a simple method.
5 min readRead guideThe Life Insurance Medical Exam: What to Expect
What happens at a life insurance medical exam, what insurers test for, how to prepare, how long it takes and what happens to your results afterward.
6 min readRead guideHow Age Affects Life Insurance
Age is one of the biggest factors in life insurance pricing. See why premiums rise as you get older, how age limits work and what to consider at each life stage.
5 min readRead guideLife Insurance for Smokers and Tobacco Users
Smokers and tobacco users usually pay higher life insurance premiums. Learn how insurers define tobacco use, how nicotine is tested and what happens if you quit.
5 min readRead guideLife Insurance for Stay-at-Home Parents
Stay-at-home parents provide care and services worth real money to a family. Learn why life insurance can matter, how to estimate the value and what to look for.
5 min readRead guideHow to Buy Life Insurance: Step-by-Step
A step-by-step guide to buying life insurance, from deciding if you need it and sizing coverage to comparing quotes, applying and using the free look period.
5 min readRead guideBeneficiaries and payouts
Naming beneficiaries, filing claims and taxes.
Life Insurance Beneficiaries: How to Choose and Update Them
Learn how primary and contingent beneficiaries work, how to name minors, trusts or charities, how to change a beneficiary and mistakes that cause disputes.
6 min readRead guideHow to File a Life Insurance Claim
Step-by-step help for beneficiaries filing a life insurance claim: finding the policy, documents needed, how long it takes, delays and what to do if denied.
5 min readRead guideAre Life Insurance Payouts Taxable?
Life insurance death benefits are generally not taxable income to beneficiaries, but interest, transfers for value and estate tax can change that. Learn the rules.
6 min readRead guide