Life insurance, explained without the sales pitch
Most people either have no life insurance or have a policy they can't explain. Both are fixable, and the conversation is shorter than you think.
Term or permanent — the honest version
Term life covers you for a set number of years — commonly 10, 20, or 30. It is inexpensive, it is simple, and for most families with a mortgage and children at home it is the right answer. If the term ends and you're still here, the policy simply expires. That's not a waste; that's the good outcome.
Permanent life (whole life, universal life) covers you for life and builds cash value. It costs considerably more for the same death benefit. It has real uses — estate planning, a lifelong dependent, business succession, final expenses — but it is oversold, and we'll tell you honestly when term is the better fit for your situation.
- Replacing income your family depends on
- Paying off the mortgage so your family can stay in the house
- Covering childcare and education costs
- Clearing debts so they don't follow your family
- Final expenses, which routinely run into five figures
- Funding a buy-sell agreement between business partners
How much do you need?
A common starting point is ten to twelve times your annual income, but that's a rule of thumb, not an answer. The better method is to add up what would actually need to be paid: the remaining mortgage, the years of income your household would lose, what it would cost to raise and educate your children, any debts, and final expenses. Then subtract what you already have — existing policies, savings, group coverage through work.
One thing worth knowing: group life through an employer is usually one to two times salary and it ends when the job does. It's a nice supplement and a poor foundation.
Rates are also largely locked to your age and health on the day you apply. Coverage does not get cheaper by waiting.
Want a real number? The life insurance request form asks the few extra things a carrier needs — date of birth, tobacco use, coverage amount — so we can come back with actual pricing rather than a callback.
Life Insurance questions we hear a lot
Do I need a medical exam?
Not always. Many carriers now offer accelerated underwriting for healthy applicants within certain age and coverage bands — approval can come in days with no exam. We'll aim you at the carriers most likely to approve you quickly.
I have coverage through work. Isn't that enough?
Rarely. Group coverage is typically one to two times salary, which does not replace an income for long, and it disappears when you leave the job — often at exactly the age when an individual policy has gotten expensive.
What if I have a health condition?
Carriers differ enormously in how they underwrite specific conditions. Being declined by one company says very little about what another would do. This is one of the clearest cases where an independent agency helps.
Can I convert a term policy later?
Many term policies include a conversion option that lets you move to permanent coverage without new medical underwriting. The deadlines and terms vary by carrier, and it's a feature worth asking about before you buy, not after.