Compare Life Insurance Quotes from Home

Buying Affordable Life Insurance Just Got Easier

SmartFinancial’s free life insurance comparison tool will find you the best agent to navigate life insurance options.

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

type
Featured Guide

What Is Life Insurance & How Does It Work?

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.

Key Terms to Know

Key Term

Beneficiary

You can choose a life insurance beneficiary or beneficiaries to get paid out with a death benefit after you pass away.

Learn More
Key Term

Policy

There are many types of life insurance so it’s important to understand the term limits and benefits of a policy before buying life insurance.

Learn More
Key Term

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
Key Term

Whole Life Insurance

Unlike a term-life policy, whole life insurance is a permanent life plan that will cover you through your entire life.

Learn More
Key Term

Permanent Life Insurance

Permanent life insurance policies are active during your entire life as long as you make premium payments. Some permanent life insurance policies have a savings and/or investment component.

Learn More
Key Term

Universal Life Insurance

Lifelong coverage and building cash value while investing are some of the benefits of having a universal life insurance policy.

Learn More
Key Term

Death Benefit

After you pass away, your life insurance beneficiaries will receive a death benefit that will help with funeral costs and more.

Learn More
Key Term

Cash Value

Some types of life insurance policies build up a cash value. You can cash out a policy or take out a loan against that policy.

Learn More

Frequently Asked Questions

What’s the right kind of life insurance for me?

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.

Can I have more than one beneficiary?

Yes, you can have more than one beneficiary, and you can decide how much goes to each one.

What happens to a life insurance cash value when the policy is paid off?

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.

request insurance quotes

Get Life Insurance Quotes in Under 3 Minutes

Answer a few questions and let Penny find the best rates in your area.