If you are purchasing term life insurance, it is pretty simple to evaluate costs of different life policies. Compare the premiums charged by each company for the same amount of coverage.

It is more complicated to determine actual cost of whole life policies since cash values, dividends, interest you could have earned in other investments, and the number of years a policy is kept in force all play important roles. (more…)

One of the more confusing aspects of picking the right life insurance is deciding which kind of policy best fits your needs. It seems there are endless variations and names to choose from—universal life, variable life, Irreplaceable Life, The Champion, The Solution. It’s important to know that all are actually variations on the two basic kinds of coverage: term insurance and whole-life insurance (also called cash value or permanent). (more…)

For most people, it’s pretty simple deciding whether or not you need life insurance. Figuring out how much you need may be a lot more difficult.

Many people simply guess at a figure that seems reasonable and settle on that. Some use a rule of thumb that says you need six to ten times your annual income. Forbes.com has a simple life insurance calculator lets you enter how much annual income will be needed for a certain period of time after death of the policy holder. (more…)

Buying life insurance is a very important financial decision and can be one of the most confusing. How you choose which policy, how much should you buy, how you understand the more complex forms of insurance are all questions that need answers.  Comparison shopping between all the different types of insurance seems impossible. (more…)