What does life insurance do?
Life insurance pays a benefit to the people you name when you pass away. Families use that benefit to replace lost income, pay off a mortgage or other debts, cover children’s education, and handle final expenses. The purpose is steady: it keeps the people who rely on you financially stable at a time when they should not have to worry about money.
Term vs permanent life insurance
The two main types work differently. Term life insurance covers you for a set period, often 10, 20, or 30 years. It costs less, and it is built to cover a defined window, such as the years you are raising children or paying down a mortgage. Permanent life insurance, including whole and universal life, covers you for your entire life and builds cash value over time. It costs more, and it suits longer-term goals. Many families use term coverage, some use permanent, and some use a mix. The right answer depends on what you are trying to protect and for how long.
How much life insurance do I need?
It depends on your income, your debts, the number of people who depend on you, and the goals you want the policy to cover. A common starting point is a multiple of your annual income, adjusted for your mortgage and other obligations. We will work through the actual numbers with you rather than handing you a generic figure.