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Life Insurance



Life Insurance FAQs

What is term life insurance?

Term life insurance is a contract between a policyholder and an insurance company that says if the insured person passes away within the time period of the policy, the insurer will pay a death benefit to the beneficiaries named on the policy. Read more about term life insurance and learn how to decide if it’s right for you.

How much life insurance do I need?

There are a few ways to calculate how much life insurance you need , but generally you want to add up the amounts your family will need (for income replacement, to cover large debts and other obligations) and subtract the resources they will already have (such as savings).

What is whole life insurance?

Whole life insurance is an insurance policy that provides a payout to beneficiaries no matter when you pass away. Whole life policies have a guaranteed cash value and are more expensive than term life. Read more to learn which type of coverage makes most sense for you.

What is universal life insurance?

Universal life insurance can cover you for the duration of your life. You can tie the policy’s cash value to investment vehicles, with some varieties. Premium payments and the death benefit may be flexible with some types of policies.

How does term life insurance work?

Term life insurance covers you for a set period of time, but if you outlive a term life policy there’s no payout. Term life does not offer a cash value, but it is less expensive than whole life insurance.

Section 101

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