A life insurance policy is a contract that provides money to be paid to a beneficiary upon the policyholder’s death. See which type fits your needs and budget.
Buying Affordable Life Insurance Just Got Easier
Life insurance can be a savings account for a child or a way to protect loved ones after you’re gone. You have many options when it comes to life insurance, so it’s important to understand each product’s advantages and disadvantages. SmartFinancial’s blog articles answer the most commonly asked questions about life insurance so you can make wise decisions. You can also compare prices on coverages for free, by answering a few questions about yourself.
The Basics of Life Insurance
Explore our Guides & Articles
Key Terms to Know
Term Life Insurance
A term life insurance is only active for the stated term, like 10, 20 or 30 years, depending on the policy you buy. If you die within that term, no one receives a cash benefit but you may be able to renew the policy or convert it to a permanent one, depending on your insurer.Learn More
Frequently Asked Questions
There are many different kinds of life insurance. It’s a good idea to learn what differentiates each one and whether or not you want a savings account or investment opportunity with your life insurance policy.
Yes, you can have more than one beneficiary, and you can decide how much goes to each one.
The insurance company will use the cash value to pay premiums until you die. If you take cash value out, there may not be enough to pay premiums. However, if you do not care to keep your policy active, you can cash it out entirely.