.png?w=334)
How Much Life Insurance Do I Need?
By Drake Richey, BA in Economics
The Cake Library
Life insurance
Life insurance pays an insurance policy that pays a sum to a named beneficiary upon the insured policyholder’s death. There are many different types of life insurance coverage to consider.
Term life insurance
Term life insurance is a specific type of life insurance that provides coverage for a fixed rate of payments over a limited period of time (the relevant term). If the insured passes during the specified term, a payment sum is made to the named beneficiary. This is a more affordable, flexible option compared to other types of coverage. It’s commonly used as part of a larger estate plan.
Most popular articles
Whole life insurance
Unlike term life insurance, a whole life insurance policy guarantees coverage at fixed premiums for the lifetime of the covered individual. Also called permanent life insurance or universal life, this coverage is guaranteed to remain for an entire lifetime as long as premiums are paid on time or to the maturity date. This type of life insurance is typically more costly than term insurance, and it can also be less flexible depending on your needs.
Most popular articles
How Much Life Insurance Do I Need?
By Drake Richey, BA in Economics
All Articles about Life insurance
Whole vs. Universal Life Insurance: What’s the Difference?
By Bob Phillips, BA in Sociology
Term vs. Cash Value Life Insurance: What’s the Difference?
By Bob Phillips, BA in Sociology
Military Survivor Benefit Plan vs. Life Insurance: What’s Best?
By Bob Phillips, BA in Sociology
How Much Does Term Life Insurance Cost in 2021?
By Bob Phillips, BA in Sociology
How Much Does Burial or Funeral Insurance Cost in 2021?
By Bob Phillips, BA in Sociology
The 2 Types of Burial or Funeral Insurance Compared
By Bob Phillips, BA in Sociology
How Does Life Insurance Work for Seniors Over 80?
By Bob Phillips, BA in Sociology
How to Buy Burial Insurance for a Parent: Step-By-Step
By Bob Phillips, BA in Sociology
Who Needs (And Doesn’t Need) Whole Life Insurance?
By Bob Phillips, BA in Sociology
When Does Life Insurance Not Pay Out? 7 Situations
By Bob Phillips, BA in Sociology
How Long Do Beneficiaries Have to Claim a Life Insurance Policy?
By Christina Palermo, BA in English
How to Figure Out the Face Value of a Life Insurance Policy: 3 Steps
By Bob Phillips, BA in Sociology
What’s a Contingent Beneficiary for Life Insurance?
By Bob Phillips, BA in Sociology
Who Typically Doesn’t Need a Life Insurance Policy?
By Bob Phillips, BA in Sociology
7 Common Life Insurance Beneficiary Rules Explained
By Bob Phillips, BA in Sociology
Life Insurance vs. Accidental Death & Dismemberment: What’s Better?
By Bob Phillips, BA in Sociology
How Long Do You Need a Life Insurance Policy Before You Die?
By Bob Phillips, BA in Sociology
What’s Split-Dollar Life Insurance? Pros, Cons & How It Works
By Bob Phillips, BA in Sociology
What’s Joint Life Insurance? Pros, Cons + How It Works
By Christina Palermo, BA in English
What’s Optional Life Insurance? Cost, Pros + Cons
By Christina Palermo, BA in English
What’s Decreasing Term Life Insurance? Cost, Pros + Cons
By Christina Palermo, BA in English
Can You Have More Than One Life Insurance Policy for Yourself?
By Bob Phillips, BA in Sociology
What Happens to a Life Insurance Policy When You Get Divorced?
By Bob Phillips, BA in Sociology
How to Cancel a Disability Insurance Policy for You or a Deceased Loved One: Step-By-Step
By Bob Phillips, BA in Sociology
9 Key Reasons Life Insurance Can Be Important For Your Loved One
By Bob Phillips, BA in Sociology