Life insurance is a contract between you and an insurance company. In exchange for premium payments, the company pays a sum of money, known as thelife insurance death benefit, to your beneficiaries when you die. Beneficiaries may include your spouse, children, or other people or entities you ...
Term life insurance covers you for a specific period—such as 10, 20, or 30 years. Once the period is over, you stop paying premiums and your policy expires. Because of this time limit, term life insurance is generally the most affordable option, making it ideal for anyone looking for lo...
This approach is based on replacing an amount of income needed for your surviving spouse and children to maintain a desired level of income and lifestyle. Your survivors’ needs are then compared to their assets, existing life insurance, and income sources to determine any additional life insuranc...
With modified whole life insurance, you pay a lower premium in the first years that the policy is active and a higher premium in later years. This can be a more affordable option if you don't make much money when your policy starts, but you expect your income to increase over time. ...
Your spouse or your child depends on you financially. You want to take advantage of a lower rate, while you’re still young and healthy. You have debts that need to be paid off in the event of your death. How to choose the term life insurance policy that’s best for you ...
Supplemental: This is what it sounds like: coverage on top of your primary policy. This can include insurance for your spouse, child or accidental death coverage. Joint: This typically expensive option covers two or more people with the payout coming when the first person dies. Insurers view...
Term life is the most common type of life insurance, but it can only last for a specific number of years, particularly 10-30 years. However, rates are low. Other types of life insurance, known as whole or permanent life, will last an entire lifetime but generally cost more. Read on ...
Life insurance quotes with eFinancial At eFinancial, we’re committed to helping individuals, couples, and families find the best life insurance to meet their needs. You’ll have access to high-quality, affordable policy options from over 20 leading life insurance providers. Our team of professio...
If the spouse you leave behind can’t make payments, creditors will likely try to collect from your estate. Take care of those you love by getting adequate life insurance coverage that pays off any debts you might otherwise leave behind. ...
What Is Voluntary Dependent Life Insurance? This employee benefit can cover a spouse, children, and any other eligible dependents, depending upon the rules laid out in the plan. In the event that a dependent dies, the employee would receive the death benefit. ...