What are the differences between term and whole life insurance?
4 min read. Want to help protect your family's future but can't decide whether term life or whole life insurance is best? Get the knowledge you need to make the most informed decision with help from TruStage.
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What should I look for in a reputable insurance company?
Cost isn’t everything in choosing the best life insurance policy. There’s also a lot to be said about choosing an insurance company you can really trust. After all, they’re selling you the policy that should ensure your beneficiaries are well taken care of after your death.
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Is it less expensive to buy life insurance when I’m young?
Don’t let the fact that right now you can’t afford all the coverage you need keep you from getting at least a basic amount of life insurance. If you have people who count on you for financial support, it’s generally better to have a small, affordable policy than no coverage at all.
How does a new baby affect my life insurance needs?
Having children can be one of life's greatest joys, but parenthood is not easy. Diapers and daycare add up. Suddenly your home can feel too small. A life insurance policy is one way to help protect your growing family’s finances, and becoming a new parent is a great time to look into coverage.
Can I use life insurance to help me save for retirement?
You probably know that life insurance pays money to your loved ones after you die. (It’s called a “death benefit.”) But some types of life insurance can also give you money to use while you’re still alive. They build what’s known as “cash value.” One of the possible uses for that money is as retirement savings.
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How much life insurance do you really need?
Purchasing life insurance can be one of the greatest things you can do to ensure your loved ones are taken care of when you pass away. But deciding how much you need is often difficult. Here are six items you might consider when looking into life insurance.
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What is life insurance and how does life insurance work?
A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. That's how life insurance works.
How to read and understand your life insurance policy
Most people hate the thought of reading a life insurance policy (or any insurance policy, for that matter). However, if you can find the time and the patience, it's a good idea to read through your whole policy. If you do, you'll understand your policy better.
What should I consider when naming life insurance beneficiaries?
The idea behind life insurance is to provide money to your loved ones to help protect them financially after you’re gone. But in order to make sure that happens the way you want it to, it’s important to think about who you want to receive the payout (or death benefit) from your life insurance policy. That person is called your beneficiary.