What Is Life Insurance?
Life insurance is a contract between you and an insurance company. You pay a regular premium, and in exchange, the insurer pays a lump sum — called a death benefit — to your chosen beneficiaries when you pass away.
That death benefit can replace income, pay off a mortgage, cover your children's education, or simply give your family time to grieve without financial pressure.
Why Does My Family Need It?
If anyone depends on your income — a spouse, children, or aging parents — life insurance ensures they are protected if something happens to you.
The Three Main Types of Life Insurance
How Much Does Life Insurance Cost?
Premiums depend on your age, health, coverage amount, and policy type. The younger and healthier you are when you apply, the lower your premium will be.
When Should I Get Life Insurance?
The best time is before a health event makes coverage more expensive or unavailable. Key triggers include getting married, having a child, buying a home, starting a business, and approaching retirement.