![]() |
|
life insurance > basics The Basics of Life InsuranceThe basics of life insurance include choosing: a policy, a level of coverage, and a beneficiary.
Life Insurance
Life insurance is financial security. In the event of your death, your life insurance policy's death benefit provides your family with the necessary funds to meet your financial obligations and still be financially secure. Sidebar Life insurance beneficiaryThe beneficiary is the individual who will receive the life insurance proceeds at the time of your death. (More on choosing the beneficiary) Types of life insuranceThe types of life insurance are term or permanent insurance. The cost of a term life insurance policy is much lower than a permanent life insurance policy. Level of life insurance coverageYour level of life insurance coverage depends on your situation - dependents, salary, debts, and standard of living all need to be considered when calculating your level of coverage. (More on life insurance coverage levels) Next: Your life insurance beneficiary. For more help . . .Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process. |
| ||||||
Coverage Basics
Term or Whole?
Policy & Application
Benefits |
Please read this disclaimer: This internet site provides information of a general nature for educational purposes only
and is not intended to be legal and or financial advice. We make no guarantees as to the validity of the information presented.
Your particular facts and circumstances, and changes in the law, must be considered when applying insurance law.
You should always consult with a competent financial planner, attorney, or insurance professional licensed in your state
with respect to your particular situation. YMMV.
©Copyright 2002-2007 Money In-Depth LLC