Term insurance is the right choice for most people because it’s:

Inexpensive - term is the least expensive way to replace income if you die prematurely
Flexible - you can easily cancel term: just stop paying and the policy will expire, penalty-free
Simple - it separates investing and life insurance, which is often a good idea and makes finding the right policy faster and easier

Term insurance is the cheapest, easiest way for people to get the amount of insurance coverage they need to insure the risk of premature death. As a result, term insurance maximizes the cash they have available for other goals, like retirement savings, debt pay down or a home purchase.

If you’re interested in considering permanent life insurance (the different types include “whole”, “universal” and “variable” among others), arm yourself with the right info.

We walk you through the analysis in our interactive Life Insurance Guide.

Or feel free to check out our post "When Does Permanent Life Insurance Make Sense?"