Life insurance is a financial product designed to secure your family financial future after your death. Since there are several types of life insurance, choosing the right one, can seem a bit difficult. However if you look a little closer at each type you will be able to make the right decision. For some people that need to protect their dependents for a specific period of time, e.g. to pay off mortgage or to provide children with education funds when they still at school, term life insurance would be the right choice. For others wanting to secure their loved ones for life, permanent policy such as whole life or universal life insurance would be a better choice.

The Right Amount of Insurance

Another important aspect to know when buying life policy is how much life insurance to buy. If you buy too little then your dependents’ financial protection will be limited. If you buy too much it will protect your family even better but you may want to spend the overpayment dollars on something else. Depending on many factors such as family size, financials obligations, debts and loans, your life death benefit will vary. The bigger your family the more life insurance beneficiaries you probably want to designate on your policy.

Protect Your Family With Life Insurance

Finding an affordable life insurance is easy with Accentor. All you need to do is answer a few simple questions and we will provide you with life insurance quotes.

There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.

It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.

But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.