Protect the people who count on you.
Life insurance replaces income, covers debts and helps your family stay on solid ground if the unexpected happens. Compare term and permanent options to find the right fit.
- Term and permanent life insurance options
- Coverage amounts from $50,000 to $1 million+
- Compare before you commit to a premium
A safety net, not a sales pitch
The right policy depends on who depends on you, what you owe, and how long your family would need support.
Replace lost income
Cover everyday living costs so your family can stay in their home and keep their plans on track.
Cover debts and obligations
A payout can help clear a mortgage, auto loan, student debt or final expenses.
Lock in cover while you're young
Premiums generally rise with age and health changes. Starting earlier can make cover more affordable.
Term vs. permanent life insurance
Most life insurance falls into two broad categories. Term cover lasts for a set period and pays a benefit if you die during that term. Permanent cover lasts your whole life, as long as premiums are paid, and often builds cash value. Term is usually much cheaper for the same death benefit.
| Feature | Term life | Permanent (whole) life |
|---|---|---|
| Length of cover | 10, 15, 20, 25 or 30 years | Lifetime, if premiums are paid |
| Premium | Usually lower | Usually significantly higher |
| Cash value | No | Often builds over time |
| Best for | Income replacement during working years | Long-term estate or dependant planning |
Comparison is general. Features and availability vary by insurer and policy. Review the policy documents.
How much cover do you need?
A common starting point is 10 to 12 times your annual income, but that's only a rule of thumb. A more personal estimate adds up:
- Outstanding debts, including the mortgage and any loans.
- Future costs such as childcare, education or elder care.
- Final expenses and any estate taxes or probate costs.
- Income your family would need for a set number of years.
- Existing savings, investments and other cover, which reduce the gap.
The result is a rough coverage target — not a recommendation. A licensed agent can help you translate it into a policy and explain the trade-offs.
Don't overlook workplace cover: employer-provided life insurance is a useful benefit, but it's often limited to one or two times salary and may end when you change jobs. Treat it as part of the picture, not the whole plan.
Applying for life insurance
Most applications ask about your age, health, lifestyle, occupation and family medical history. Depending on the amount and insurer, you may need a medical exam and blood tests. Some insurers offer simplified or no-exam policies with higher premiums or lower coverage limits.
- Be accurate on the application — incorrect answers can affect a future claim.
- Ask whether the premium is guaranteed and for how long.
- Check the contestability period, typically the first two years.
- Confirm who the beneficiaries are and keep them up to date.
- Review optional riders, such as waiver of premium or accelerated death benefit.
Naming a beneficiary
Life insurance proceeds generally pass directly to named beneficiaries, outside probate. That makes accurate beneficiary designations important. Name specific people, note the percentage each should receive, and update the designation after major life events such as marriage, divorce or a birth.
RateFinder is not an insurer or agency and does not issue policies. Coverage, premiums and eligibility are determined by the licensed insurer through its underwriting process. This page is general information, not financial or legal advice.
Start with the basics
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Tell us your age range, coverage amount and type of cover.
Compare options
Review quotes from licensed insurers relevant to your request.
Choose your policy
Confirm the premium, term, beneficiaries and exclusions before applying.
Questions people ask first
Do I need life insurance if I'm single?
It depends. If no one relies on your income and you have no significant debts or final-expense concerns, cover may be less urgent. If you support parents, have a mortgage with a co-borrower, or want to cover funeral costs, it may still be worth considering.
Is a medical exam always required?
No. Many insurers require a medical exam for larger policies, but simplified and guaranteed-issue options exist. They usually cost more or offer lower coverage. Answer all health questions accurately, as errors can affect a claim.
What happens if I outlive my term policy?
Term coverage ends and there is no death benefit unless you die during the term. Some policies can be converted to permanent cover or renewed at a higher premium. Check the conversion and renewal options before you buy.
Can I change my beneficiary later?
Usually yes, unless the policy has an irrevocable beneficiary designation. Contact the insurer to update your beneficiaries after a marriage, divorce, birth or other major life event. Keep your own copy of the confirmation.
Give your family room to breathe
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