Life insurance
Protection for the people who count on you
Life insurance pays a benefit to the people you choose when you pass away. The right type and amount depend on what you want that money to do. Here’s how to think it through.
Why people buy it
What life insurance can do
Income replacement
Help your family keep paying the bills if your paycheck stops.
Mortgage & debt protection
Pay off or keep up with the mortgage, car loans and other debts.
Children & dependents
Fund childcare, education and everyday living until kids are grown.
Final expenses
Cover funeral, burial or cremation costs and final bills.
Legacy planning
Leave money to family, a charity or the next generation.
Business obligations
Fund buy-sell agreements, key-person needs or business loans.
Long-term financial planning
Some permanent policies build cash value you may access later.
Compare
The main types, side by side
A general overview. Features, riders and availability vary by insurance company, policy and state.
| Type | How long it lasts | Premium | Cash value | Often used for | |
|---|---|---|---|---|---|
| Term Life | 10–30 years | Level for the term | None | Lowest cost for a large amount of coverage during working years | Details → |
| Whole Life | Lifetime | Level, guaranteed | Guaranteed growth | Guarantees and lifetime coverage | Details → |
| Indexed Universal Life | Lifetime, if funded | Flexible | Interest linked to an index, with a floor and cap | Protection plus long-term cash-value accumulation | Details → |
| Final Expense | Lifetime | Level | Small | Funeral and final bills with simplified underwriting | Details → |
| Mortgage Protection | Often matches your loan | Usually level | Depends on policy | Helping your family keep the home | Details → |
| Children’s Life | Lifetime | Level | Yes (permanent plans) | Starting permanent coverage early | Details → |
Choosing
How to decide what fits
Most people start with three questions: How long do I need coverage? How much would my family need? What can I comfortably afford?
Temporary needs, like raising children or paying a mortgage, often point to term life. Lifelong needs, like final expenses or leaving a legacy, often point to permanent coverage. Many families combine both.
- Temporary needTerm life is usually the most affordable way to cover a specific period.
- Lifelong needWhole life, IUL and final expense can last your entire life if kept in force.
- Cash-value goalsPermanent policies may build cash value — with costs, limits and trade-offs to understand.
- Health historyUnderwriting varies by company. We compare where your health profile may fit best.
Explore
Coverage options
Indexed Universal Life
Permanent coverage with cash value tied to an index, with a floor on negative crediting.
Learn moreTerm Life
Affordable protection for the years your family depends on you most.
Learn moreWhole Life
Lifetime coverage, level premiums and guaranteed cash value.
Learn moreFinal Expense
Smaller whole life policies that help cover funeral costs and final bills.
Learn moreMortgage Protection
Life insurance sized to help your family keep the home.
Learn moreChildren’s Life Insurance
Permanent coverage started early, at rates based on a young age.
Learn moreLiving Benefits
Riders that may pay part of the benefit during a qualifying illness.
Learn moreVeterans & Military
Private coverage vs. VA life insurance (VALife), without the two-year wait.
Learn more