Life Insurance

Understanding life insurance — who needs it, what it costs, and what it covers.

Coverage Overview

Life insurance provides a financial safety net for your dependents if you die. It can cover lost income, mortgage payments, education costs, funeral expenses, and debts.

Average Cost

$300 - $1,200/year (term, healthy adult)

Who Needs It

Anyone with financial dependents — children, a spouse relying on your income, aging parents, or business partners. Generally unnecessary if no one depends on your income.

Key Exclusions

These are typically NOT covered by this type of insurance:

✗Suicide within first two years (most policies)
✗Death during commission of a crime
✗Fraud or material misrepresentation on application

Life Insurance FAQ

Term vs. whole life — which do I need?

Term life is simpler and cheaper — it covers a specific period (10, 20, 30 years). Whole life covers your entire lifetime and builds cash value, but costs 5-15x more. Most families are best served by term life.

Check Your Coverage

Use our Coverage Profile Builder to see if life insurance is right for your situation.

Build Your Coverage Profile

Coverage Classroom provides educational information only. This is not insurance advice, and we are not licensed insurance agents or brokers. Always consult with a qualified insurance professional before making coverage decisions.