Protect your Family First
LEARN ABOUT THE IMPACT LIFE INSURANCE CAN HAVE ON YOUR FAMILY
What are the different types of life insurance?
There are many kinds of life insurance, but by far the most common ones are term and whole. Most people find term life insurance to be more practical, but the policy that’s best for you will depend on your individual circumstances.
Term life insurance
Term life insurance is the most affordable type of life insurance, with relatively low monthly rates. It lasts for a fixed period of time — typically 10 to 30 years, depending on your policy — which is all that most people need.
Whole life insurance
Whole life insurance lasts your whole life and, in addition to a death benefit payout, it comes with a cash value that can be used as a savings vehicle to supplement your retirement. It’s best for people who have maxed out other investments.
Why do I need life insurance?
You need life insurance to protect your family from the loss of your income. Your savings will only go so far, especially if you pass away before you’ve had time to pay off all of your debts and save up for the future. People who usually need life insurance include:
- Parents, especially new parents and single parents, who have significant financial responsibility ahead of them
- Young adults with private student loans or other co-signed loans, like a mortgage
- Older adults who are nearing retirement and need coverage to protect their savings plan
- Seniors who can’t independently cover their end-of-life medical care or burial expenses
How can life insurance help protect my family?
The death benefit can replace your financial support for decades and ensure your family won’t struggle to cover the costs of a mortgage, a funeral, or care and college for your kids. It also means your spouse can continue to save for retirement or has money to support an aging parent.
What are the best insurance companies?
Protective, Banner Life, and Lincoln Financial are among our top-ranked insurance partners, but when it comes to life insurance, there’s no one-size-fits-all. The right policy for you depends on your individual needs and circumstances. That’s where we come in. As an independent insurance broker, we can give you reviews and recommendations of all the top insurance companies.
- Parents, especially new parents and single parents, who have significant financial responsibility ahead of them
- Young adults with private student loans or other co-signed loans, like a mortgage
- Older adults who are nearing retirement and need coverage to protect their savings plan
- Seniors who can’t independently cover their end-of-life medical care or burial expenses
How to buy life insurance
Before you start the process, take some time to review your financial needs and your health history. This will help speed up the process of getting a quote and applying for coverage.
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Apply online.
After you figure out how much coverage you need, you can fill out a simple health questionnaire to start the application process and get some initial quotes. -
Talk to an agent.
An agent will walk through your background and gather additional information to help determine which insurer will offer you the most affordable coverage. They’ll also advocate for you throughout the application process. -
Take a medical exam (or don’t).
Insurers use the brief medical exam to verify the health information you provided and determine how much you pay for coverage. But some insurers will just check your previous medical records instead -
Sign your policy and pay your first premium.
Once you take this step, it’s official — you have life insurance! Sit back and relax. If your needs shift — say your beneficiaries or financial obligations change — you can always adjust your policy.
Buying life insurance is easy with Buildingblocks
Experts when you need them. Technology for everything else.
Get free quotes tailored to your needs
We’re a marketplace — that means we partner with top life insurance companies to give you multiple quotes, so you can find the policy that’s right for you
Get free advice from licensed agents
Our expert agents work for you, not the insurance companies. You can trust them to offer unbiased advice and help you understand all your options.
Get support every step of the way
We’re here to advocate for you, and that doesn’t end when you buy your policy. Need to change your beneficiaries, or file a claim? We’ll help with that, too.
