Family protection
A benefit may help loved ones cover living costs, education, or other needs if your income is no longer there.
Insurance
Life Insurance
Life insurance, made simple
Life insurance is a contract that may pay a benefit to your beneficiaries if you pass away while coverage is in force. Policies differ in length, cost, and features — and approval is never guaranteed.
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Educational information only — not personalized advice. No approval or payout is guaranteed.
Why people consider it
What it can help with
Mortgage and debt
Proceeds may be used to help pay down a mortgage or other obligations, depending on how beneficiaries use the funds.
Business continuity
Owners and partners sometimes use life insurance in buy-sell or key-person planning, subject to legal and tax advice.
Changing life stages
Needs often shift with marriage, children, a new home, or retirement — coverage can be reviewed over time.
The basics
How it works
1
Clarify your goals
You consider who depends on you, what debts or goals matter, and how long protection may be needed.
2
Compare term and permanent
Term covers a set period; permanent categories may last for life and can include other contract features. Details vary by policy.
3
Apply and name beneficiaries
The insurer reviews your application. If approved, you name beneficiaries who may receive the benefit according to the contract.
Before you decide
Key things to understand
Term vs permanent
Term often has lower initial premiums for a fixed period. Permanent categories may cost more but can offer lifelong coverage and different features.
Beneficiaries matter
You choose who receives the benefit. Keeping beneficiary designations up to date is important after life changes.
Underwriting affects cost
Age, health, smoking, lifestyle, coverage amount, and coverage type can all affect premiums and approval. Nothing is guaranteed at application.
Coverage amount
There is no single right number. Many people weigh income replacement, debts, and existing assets — general education only, not a formula for you.
Workplace coverage limits
Employer life insurance can be helpful, but it may be limited and may not continue if you change jobs.
Common questions
Frequently asked questions
Term insurance covers a set number of years. Permanent insurance is designed to stay in force for life if premiums are paid and conditions are met, and may include cash value or other features depending on the contract.
This page is for general educational information only. Coverage, definitions, exclusions, waiting periods, and claims depend on the policy and insurer. No approval or payout is guaranteed.
Ready to understand your options?
Share a few details and our team can follow up with general information about what to compare before you request coverage.