Life insurance replaces income and covers final expenses so your family is not left financially stranded. The two broad categories are term and permanent.
Term life covers a set period — often 10, 20, or 30 years — and is usually the most affordable way to protect a mortgage, kids’ education, or household income.
Permanent policies (such as whole life) last a lifetime as long as premiums are paid and may build cash value. They cost more but can support longer-term estate or legacy goals.
The right mix depends on age, budget, debts, and how long someone depends on your income. An advisor can illustrate options without the jargon.
Key takeaways
- Term: affordable protection for a defined period
- Permanent: lifelong coverage with potential cash value
- Calculate coverage using income, debts, and goals
- Review beneficiaries after major life changes
Need help choosing coverage?
Talk with a licensed Insurance Corner advisor for personalized options.