Short, honest explanations of the parts of life insurance that usually get glossed over.
A common starting framework is 10–12× your annual income, adjusted for debts, the mortgage balance, expected education costs, and any coverage you already have through work. It's a starting point, not a rule — the right number is the one that keeps your household running.
Group life through an employer is usually one to two times salary and usually ends when the job does. It's a supplement to individual coverage you own, not a replacement for it.
Age, height and weight, tobacco use, prescription history, medical records, driving record, and sometimes a paramedical exam. Being straightforward on the application matters — misstatements can give a carrier grounds to contest a claim.
Name a primary and a contingent beneficiary, use full legal names, and review after any marriage, divorce, birth, or death. Beneficiary designations override what your will says.
Sometimes: improved health, quitting tobacco, or a badly-fitted original policy. Often not: replacing resets contestability periods and surrender charges. Never cancel existing coverage until the new policy is in force.
Accelerated death benefit, waiver of premium, child riders, and term conversion privileges. Availability, cost, and terms vary by carrier and state, and several are not free.
The tools and content on this site are educational only. They are not financial, tax, or legal advice and do not constitute a recommendation of any specific policy.