Life insurance basics

Three kinds of coverage, in plain English.

Term life insurance

Covers you for a set number of years, for example 10, 20 or 30. If you pass away during that time, it pays the benefit. When the term ends, the coverage ends. Often chosen by people who want to protect a mortgage or young children.

Whole life insurance

Designed to cover you for life as long as premiums are paid. Usually costs more than term for the same amount, and many policies build cash value over time.

Final expense insurance

A small whole life policy meant for funeral costs and last bills, usually with simple health questions instead of an exam. Read the final expense guide.

Not sure which one fits?

A licensed agent can walk you through the options for your age, health and budget.