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Symetra is the best term life insurance company of 2024. The insurer has a low level of customer complaints and its SwiftTerm term life insurance policy is one of the most affordable in our analysis, earning it 5 stars. SwiftTerm can be converted to permanent life insurance coverage and enhanced or customized with several riders. 

Pacific Life also receives a 5-star rating and is an excellent option if you’re shopping for a high-coverage term life insurance policy with low rates.

Best term life insurance companies of 2024

Term life insurance companyTerm life insurance PolicyOur RatingAvailable terms (years)CoverageBest term life insurance
Symetra SwiftTerm
10, 15, 20 or 30$100,000 to
$3 million
Best term life insurance
Term life insurance company
Term life insurance PolicySymetra SwiftTerm
Our Rating
Available terms (years)10, 15, 20 or 30
Coverage$100,000 to
$3 million
Best term life insuranceBest term life insurance
PL Promise Term
10, 15, 20, 25 or 30$50,000 min.Best for customer satisfaction
Term life insurance company
Term life insurance PolicyPL Promise Term
Our Rating
Available terms (years)10, 15, 20, 25 or 30
Coverage$50,000 min.
Best term life insuranceBest for customer satisfaction
Classic Choice Term
10, 15, 20, 25, 30, 35 or 40$100,000 min.Excellent convertible term life insurance
Term life insurance company
Term life insurance PolicyClassic Choice Term
Our Rating
Available terms (years)10, 15, 20, 25, 30, 35 or 40
Coverage$100,000 min.
Best term life insuranceExcellent convertible term life insurance
Select-a-Term
10 to 35$100,000 to
$65 million
Best for term customization
Term life insurance company
Term life insurance PolicySelect-a-Term
Our Rating
Available terms (years)10 to 35
Coverage$100,000 to
$65 million
Best term life insuranceBest for term customization
Non-convertible Term
10, 15, 20 or 30$250,000 min.Best non-convertible term life insurance
Term life insurance company
Term life insurance PolicyNon-convertible Term
Our Rating
Available terms (years)10, 15, 20 or 30
Coverage$250,000 min.
Best term life insuranceBest non-convertible term life insurance
Premier
10, 15, 20 or 30$100,000 min.Best term life insurance for smokers
Term life insurance company
Term life insurance PolicyPremier
Our Rating
Available terms (years)10, 15, 20 or 30
Coverage$100,000 min.
Best term life insuranceBest term life insurance for smokers
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OP Term
10, 15, 20, 25, 30, 35 or 40$100,000 to
$65 million
Best for long term lengths
Term life insurance company
Term life insurance PolicyұԱ
OP Term
Our Rating
Available terms (years)10, 15, 20, 25, 30, 35 or 40
Coverage$100,000 to
$65 million
Best term life insuranceBest for long term lengths
Trendsetter Super
10, 15, 20, 25 or 30$25,000 min.Best low coverage term life insurance
Term life insurance company
Term life insurance PolicyTrendsetter Super
Our Rating
Available terms (years)10, 15, 20, 25 or 30
Coverage$25,000 min.
Best term life insuranceBest low coverage term life insurance

Why trust our life insurance experts

To help you find the best life insurance for your unique needs, our life insurance experts analyzed thousands of life insurance policies, evaluating data points that matter, such as rates, a company’s financial strength, policy features and customer complaints. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.

  • 9,000+ life insurance policies evaluated.
  • 38 million data points analyzed.
  • 5 levels of fact-checking.

Top-rated term life insurance companies of 2024

Why it’s the best

Symetra is the best term life insurance company of 2024. It has a low level of complaints and its SwiftTerm policy has the lowest rates across all ages and coverage amounts we analyzed. 

SwiftTerm offers up to $3 million in coverage. It is available to individuals ages 20 to 60, guaranteed renewable until age 95 and can be converted to a permanent policy until the age 70. Qualifying applicants may get instant approval in minutes. 

Symetra also sells Symetra Term, a term life insurance policy for individuals up to age 80. 

Why it’s the best

Pacific Life has the lowest number of NAIC complaints among insurers we evaluated, making it the best term life insurance for customer satisfaction. It also has some of the lowest rates for most applicant profiles we analyzed. 

Pacific Life’s term life insurance policy, PL Promise Term, allows you to purchase as little as $50,000 coverage, or as much as $10 million, making it easy to choose a coverage amount that fits your goals. Policies can be issued to eligible applicants up to the age of 70 and are guaranteed renewable up to 95. 

If you’re shopping for term life insurance, you may also want to look at Pacific Elite Term, another term life insurance option offered by Pacific Life. 

Why it’s the best

Protective is a great convertible term life insurance policy. If you purchase a Protective Classic Choice term life insurance policy, you have the option to convert it to one of six permanent life insurance policies, without a medical exam, within the first 5 years of purchase. Conversion options include whole life insurance, universal life and variable universal life policies. 

After five years, you can also choose to convert to one of two permanent policies: Protective Non-Par Whole Life, a minimum coverage guaranteed whole life insurance policy, or ProClassic LegacySM, a universal life insurance policy. 

The Classic Choice term life insurance policy offers 10 to 40 years of coverage, with policy amounts ranging from $100,000 up to $50 million. New policies can be issued to eligible applicants up to 75 years old and the policy is guaranteed renewable until 95.

Why it’s the best

Corebridge Financial’s Select-a-Term policy allows you to apply for up to $65,000 in coverage and choose less standard life insurance term lengths, such as 10, 12, 18 or 22 years — up to 35 years. That makes it the best life insurance if you want a customizable term to meet a specific need. This feature is unlike other competitors that only offer specific life insurance term lengths to choose from, often in five-year increments. 

Corebridge Financial, formerly AIG, issues the Select-a-Term policy to eligible applicants up to age 80, though policies are only guaranteed renewable to age 81. 

Why it’s the best

If you don’t need or want a term life insurance that can be converted to a permanent life insurance policy, consider Penn Mutual’s Non-Convertible Term policy. Penn Mutual’s Non-Convertible Term has competitive rates and is among the best term life insurance policies for various applicant profiles, including smokers and individuals in their 30s, 40s and 50s. Penn Mutual also has a very low level of complaints to state insurance departments, which can indicate general satisfaction among policyholders and beneficiaries. 

Why it’s the best

Midland National is the best term life insurance for smokers and it’s great for living benefits. You can take advantage of multiple options, including an accelerated death benefit if you are diagnosed with a chronic, critical or terminal illness. These benefits may be available with other life insurance companies, but often at an additional cost. 

Its Premium Term policy rates are competitive — though not the cheapest among the insurers in our analysis — and Midland National has a very low number of complaints to state insurance departments and a robust collection of policy features. The Premium Term policy offers $100,000 or more in coverage and can be issued to eligible applicants up to age 75. 

Why it’s the best

The OPTerm offers life insurance term lengths up to 40 years. That means you can lock in a lower rate for longer. Legal & General also has highly competitive rates, making it a budget-friendly option

Why it’s the best

Transamerica’s Trendsetter Super term life insurance policy offers the best low coverage term life insurance, with policies with minimum coverage values as low as $25,000. It also has competitive rates, especially for people in their 50s. Plus, the maximum issue age of 80 is one of the highest amongst competitors in our analysis.

Methodology

To find the best term life insurance, we used our own research and data provided by , a national online life insurance agency. Each life insurance company included in our evaluation had the opportunity to earn up to 100 points, based on the following factors.

Rating factorExplanation
Term life insurance rates (70 points)We evaluated rates for 30- and 40-year-old males and females for term life insurance lengths of 10, 20 and 30 years and coverage amounts of $250,000, $500,000, $1 million and $2 million
Complaints (10 points)We analyzed complaints submitted to the National Association of Insurance Commissioners
Term life conversion availability (10 points)Some life insurance companies allow policyholders to convert term coverage to a permanent life insurance policy. Companies that allow this receive 10 points
Guaranteed renewable (10 points)Companies that allow policyholders to renew at the end of a level term period received 10 points. Note that policies that are guaranteed renewable often specify an age at which this feature expires, such as at age 70, 80 or 100


If you’d like to dig in deeper, head over to our life insurance ratings methodology page.

What you should know

If you’re looking for quick coverage and a large death benefit, consider Ethos Term Life. Eligible applicants can get instant approval and coverage for up to $2 million.

Pros and cons

Pros
  • Policies up to $2 million available.
  • Instant application approval.
Cons
  • Can’t convert to permanent life insurance policy.

More details

Ethos example premiums for a 20-year term policy

Gender and age$500,000 in coverage$1,000,000 in coverage
Woman, 30$192$300
Woman, 40$324$576
Woman, 50$792$1,488
Man, 30$240$432
Man, 40$420$732
Man, 50$984$1,848
Example rates reflect those for male and female candidates in excellent health.

Best term life insurance companies for you

The best life insurance for you depends on your needs. We’ve analyzed life insurance companies and policies for the profiles below to help you find the best life insurance for your specific coverage requirements: 

Best term life insurance for 30-year-olds: Symetra and Pacific Life

Symetra and Pacific Life have the best life insurance for 30-year-olds, thanks to competitive rates, a low level of complaints and key features like convertibility. 

Buying life insurance in your 30s can be smart, especially since rates increase as you age. If you’re a 30-year-old in good health, you can likely score a 20-year term life insurance policy for less than $20 a month or under $5 a week — particularly if you get quotes from the insurers in the table below.

Average rates for a $500,000, 20-year term life insurance policy at 30

TERM LIFE INSURANCE COMPANYANNUAL RATEMONTHLY RATETERM LIFE INSURANCE OVER 30 RATES
Symetra
$204.02
$17.00
5.0 stars
Pacific Life
$204.18
$17.02
5.0 stars
Protective
$204.01
$17.01
4.5 stars
Legal & General America
$204.00
$17.00
4.0 stars
$205.15
$17.10
4.0 stars

Rates reflect the average term life insurance rate for healthy, 30-year-old males and females.

Best term life insurance for 40-year-olds: Symetra and Pacific Life

Symetra and Pacific Life are both 5-star term life insurance companies for 40-year-olds, based on our analysis of rates, complaints and policy features. However, all of the companies in the table below offers average rates of around $25 per month, so consider getting quotes from each. 

Though coverage costs increase as you age, it can still be relatively affordable if you’re healthy and purchase a policy before age 50. Once you enter your 50s, term life insurance rates increase substantially. 

Average rates for a $500,000, 20-year term life insurance policy at 40

TERM LIFE INSURANCE COMPANYPOLICY NAMEMONTHLY RATETERM LIFE INSURANCE OVER 40 SCORES
Symetra
SwiftTerm
$25.68
5.0 stars
Pacific Life
PL Promise Term
$25.69
5.0 stars
Protective
Classic Choice Term
$25.68
4.5 stars
Select-a-Term
$25.80
4.5 stars
Non-Convertible Term
$25.73
4.0 stars

Rates reflect the average rate for healthy, 40-year-old males and females.

Best term life insurance for 50 and over: Protective

If you’re in your 50s or 60s, consider Protective. Its competitive rates and minimal complaints to state insurance departments make it the best term life insurance for those over 50. On average, a 55-year-old, healthy female can expect rates around $50 per month for a $500,000, 10-year term life insurance policy. A male of the same age and health status has an average rate of $67 per month. 

Pacific Life, Penn Mutual and Lincoln Financial are also life insurance companies worth considering if you’re over 50. 

Average monthly cost of a $500,000 10-year term policy

TERM LIFE INSURANCE COMPANYEXAMPLE MONTHLY RATE FOR 55-YEAR-OLD FEMALEEXAMPLE MONTHLY RATE FOR 55-YEAR-OLD MALEBEST LIFE INSURANCE OVER 50 SCORES
Protective
$49.65
$67.07
5.0 stars
Pacific Life
$49.70
$67.08
4.5 stars
$50.66
$67.50
4.5 stars
Lincoln Financial
$50.30
$67.91
4.0 stars

Rates reflect the average rate for health, 55-year-old males and females.

Best term life insurance for seniors: Protective

Life insurance rates are highest when you are in your mid-to-late 60s, 70s or older. Protective has the best life insurance for seniors. You may also want to consider Pacific Life. It offers equally competitive rates. 

Average monthly cost of a $500,000 10-year term life insurance policy

SENIOR LIFE INSURANCE COMPANY70-YEAR-OLD FEMALE70-YEAR-OLD MALEBEST SENIOR LIFE INSURANCE RATING
Protective
$193.22
$306.95
5.0 stars
Pacific Life
$193.25
$307.03
5.0 stars
$200.98
$324.58
4.5 stars
Equitable
$199.58
$311.25
4.0 stars

Over 60 and shopping for life insurance? The best life insurance for seniors

Best term life insurance for smokers: Midland National

If you are a smoker (or were in the past), you’ll see higher life insurance rates than those offered to non-smokers. Midland National may have slightly higher rates than some of the other top-rated term life insurance companies for smokers. Still, its very low level of complaints and policy features help it secure a 5-star rating and make it worthy of consideration. 

Midland National’s Premier 20 Term CS8 policy is guaranteed renewable and can be converted to a permanent life insurance policy until age 70. 

If low rates are a leading factor in your decision, consider Symetra, Transamerica and Penn Mutual, all of which receive a 4.5-star rating and have competitive rates. 

Average monthly cost of a $250,000 20-year term life insurance

TERM LIFE INSURANCE COMPANYMONTHLY RATE AT 30MONTHLY RATE AT 40BEST TREM LIFE INSURANCE FOR SMOKERS RATING
Midland National
$40.48
$81.29
5.0 stars
Symetra
$37.08
$67.93
4.5 stars
Transamerica
$35.38
$61.95
4.5 stars
$36.59
$66.33
4.5 stars

Who should get term life insurance?

According to Alison Salka, Ph.D., senior vice president and director of LIMRA Research, term life insurance is generally a good option “if someone knows they’re only going to need [coverage] for a short period of time,” such as while they pay off a mortgage or have children living with them. She also points to term life insurance as the product that is typically more affordable and easy to understand, particularly when compared to permanent life insurance, which is generally more complex. 

Pros and cons of term life insurance

A term life insurance policy has many benefits, but there are also some drawbacks. Here’s what to consider.

PROSCONS
Term life insurance is usually more affordable than permanent coverage, such as whole life or universal life insurance
Coverage expires at the end of the term unless you renew it (for a higher rate) or purchase a new policy. This is in contrast to permanent coverage, which lasts a lifetime or to a very advanced age, like 100
There are multiple term lengths to choose from, such as 10, 15, 20, 25, 30 or 40 years. You can choose a term that meets your needs
Renewing or purchasing a new policy at the end of a term can be costly, especially the older you are
Term life insurance policies often have level premiums, so you know exactly how much you’ll pay each billing cycle
Unlike permanent life insurance, term policies do not include a cash value component

Want coverage with an investment component? Learn more about cash value life insurance

What you should know

If you’re looking for quick coverage and a large death benefit, consider Ethos Term Life. Eligible applicants can get instant approval and coverage for up to $2 million.

Pros and cons

Pros
  • Policies up to $2 million available.
  • Instant application approval.
Cons
  • Can’t convert to permanent life insurance policy.

More details

Ethos example premiums for a 20-year term policy

Gender and age$500,000 in coverage$1,000,000 in coverage
Woman, 30$192$300
Woman, 40$324$576
Woman, 50$792$1,488
Man, 30$240$432
Man, 40$420$732
Man, 50$984$1,848
Example rates reflect those for male and female candidates in excellent health.

How much does term life insurance cost?

A 30-year-old female in good health pays around $143 per year, or $11.92 per month, for a 20-year, $250,000 term life insurance policy. A healthy male of the same age pays an average of $161 per year, or $13.42 per month, for the same type of policy. 

As you age, the cost of life insurance goes up. The table below shows how much the of a 20-year, $250,000 term life insurance policy changes as you age.

Keep in mind that the average rate for coverage may not be indicative of how much you’ll pay for coverage. The best way to determine your average term life insurance costs is to get multiple life insurance quotes for the same amount and type of coverage. 

Want more insight into life insurance costs? Average life insurance rates for 2024

What factors affect term life insurance rates?

Factors that will influence your term life insurance rate include:

  • Age.
  • Gender.
  • Selected death benefit.
  • Additional riders, if applicable.
  • Policy term.
  • Smoking status.
  • Marijuana use.
  • Medical history.
  • Medical history of your parents and siblings.
  • Height and weight.
  • Prescription history.
  • Risky occupations or hobbies.
  • History of alcohol or substance abuse or treatment.
  • Criminal history.
  • Credit history.
  • Driving record (such as DUIs).

How to find the best term life insurance

There are a lot of term life options available. These three steps can help you choose the term life insurance policy most suited to your needs.

1. Decide how much life insurance you need. 

Your reasons for purchasing a life insurance policy will dictate how much coverage you need. Here are common reasons for buying term life insurance:

  • Replacing income for a number of years. 
  • Paying off a mortgage.
  • Covering other debts, such as outstanding personal loans.
  • Paying for a child’s education, whether grade school, high school or college tuition and related expenses. 
  • Covering funeral expenses. The median cost of a funeral with viewing and burial is $8,300.

Expert tip: When factoring how much coverage you need, remember to account for any existing assets your family can rely on, such as savings accounts, retirement plans and educational savings accounts (ESAs), like 529s and Coverdell ESAs.

2. Determine your life insurance term length.

Term life insurance policies are commonly available for terms of 10, 15, 20, 25 or 30 years. Some insurers offer term lengths of up to 40 years, while others, like Corebridge Financial, offer customizable terms, such as 12 or 18 years. 

Your reason for purchasing coverage should guide your term length decision. If your goal is to provide financial security for your family, consider a term that will last until your children reach the age of economic independence. If you want to ensure a partner can cover mortgage costs should you die, opt for a plan that lasts the duration of your mortgage. 

You can often renew a term life insurance policy, but your rate will likely increase each year you renew it. Choosing the right term length from the start can help you lock in a rate and coverage that matches your needs. 

3. Shop around and compare life insurance quotes.

Many of the best term life insurance companies offer policies with similar terms and coverage options, but not all are equal. Before you choose a policy, get term life insurance quotes from multiple insurers, and keep these tips in mind:

  • Check each life insurance company’s financial stability rating. Some insurers list ratings on their site, but you can also go directly to the major independent review agencies, such as , Fitch or Standard & Poor’s (S&P).
  • Take note of policy features and benefits. For instance, some policies are convertible, meaning you can convert them to permanent coverage up until a certain point (and usually at a higher rate). Other features to look out for are riders (either included or available as add-ons) and guaranteed renewable policies. 
  • Read expert reviews. Check term life insurance reviews from credible sources and note the reviewer’s methodology. This will explain what factors they considered when rating or scoring a specific insurer.

Expert tip: You can get quotes from multiple insurers, work with an independent broker or use term life insurance online marketplaces to compare policies and rates. Just be sure to compare quotes for the same term length and amount of coverage.

4. Speak to a financial advisor

A term life insurance policy is a commitment — one that your family may be relying on. You should feel confident in your purchase, and according to Salka, speaking to a financial advisor is a good idea. Life insurance and policy features evolve, she says. “Having someone who can sift through all of that with an understanding of your needs” can be an immense help.

Learn more: How does life insurance work?

Best term life insurance FAQs

Term life insurance is a type of life insurance policy that locks in coverage and rates for a specific period, such as 10, 15, 20, 25 or 30 years. When the level term period expires, your coverage ends unless you renew the policy or purchase a new one, often at a higher rate.

If you die during the policy term, your life insurance beneficiary will receive a death benefit when you purchase the policy. If you die after the policy expires, your beneficiary will not receive the death benefit.

You can choose one or more beneficiaries, with common choices including a spouse, partner, child or grandchild.

A term life insurance policy typically won’t pay out a death benefit under the following circumstances:

  • Death after the life insurance term expires and the policy was not renewed.
  • Death due to criminal activity, like driving under the influence.
  • Death by suicide if it occurs within the first few years of buying the policy, often two years. This is something known as a suicide clause.
  • A beneficiary is under investigation for or accused of playing a role in the insured’s death.

Term life insurance secures temporary coverage that is locked in for a specific rate and number of years. It is generally cheaper than whole life insurance and is a good option if you are on a budget or only want coverage for a specific amount of time.

Whole life insurance is permanent life insurance, so it lasts your lifetime as long as you pay your premiums. It can also have a cash value or savings component that can be tapped into while you’re alive.

Each offers its own set of pros and cons and pricing, so if you’re unsure which one is right for you, it’s best to assess your needs and consult with a financial advisor who can help you determine the best life insurance company and policy for your short- and long-term goals.

No, term life insurance policies don’t offer a cash value component. If you want a life insurance policy with a cash value component, you should consider permanent life insurance. There are several types of permanent life insurance, including whole life insurance, universal life insurance and variable life insurance.

Term life insurance may be worth it if you have people who rely on you financially, such as children or a spouse. Common reasons to purchase life insurance include covering a child’s tuition or an existing mortgage, ensuring your family can maintain their current standard of living or covering other existing debts or end-of-life expenses.

Most term life insurance companies offer policies with terms that last from 10 to 30 years, though some companies, like Banner/General and Protective, offer policies with terms as long as 40 years.

If you want a policy that lasts longer than 30 or 40 years, it’s a good idea to consider permanent coverage, like whole life insurance.

Term life insurance is a better option if you’re looking for temporary coverage at an affordable rate. That’s because term life insurance rates are lower than whole life insurance rates, and you can choose a specific term length based on your financial needs.

Whole life insurance may be a better option if you’re looking for life insurance that will cover you indefinitely. A whole life policy usually lasts a lifetime, meaning you won’t have to worry about renewing it after 10, 20 or 30 years. It can also be a better fit if you’re looking for a policy that offers an investment or savings component. Whole life insurance policies typically come with a cash value component that can be tapped into while you’re alive.

If you’re not sure which option is best, consider speaking to a financial advisor who can help you choose the best life insurance policy based on your finances and coverage goals.

A pre-existing condition can affect your rate, either directly or indirectly. If you’re shopping for coverage and opt for a policy that follows a traditional underwriting process (you’re required to complete a health exam and questionnaire) or an accelerated underwriting process (the insurer uses available data, like your prescription drug history, to determine rates), your rate may increase based on the nature of your pre-existing condition.

If you opt for a no-exam life insurance or guaranteed approval policy so you can avoid a health exam or questionnaire, you’re also likely to see higher rates than those associated with a traditional term life insurance policy.

Your age, gender and desired type of life insurance and amount of coverage are primary factors in your life insurance rate. Life insurance for seniors is more expensive than coverage for someone in their 20s and 30s, for instance. And the more coverage you purchase and the longer the policy length, the higher your life insurance premium will be.

Other factors include your:

  • Health.
  • Height and weight.
  • Family medical history.
  • Nicotine or marijuana use status.
  • Occupation and hobbies.
  • Driving record.
  • Criminal record.
  • Additional riders, as applicable.

Insurers can determine life insurance rates differently, so shop around and compare quotes to find the cheapest life insurance policy.

Decreasing term life insurance lowers the policy’s death benefit over time. It’s typically a more affordable type of life insurance and you may not need to pass a medical exam to secure a policy.

Decreasing term life insurance might be of interest if you think your loved ones will need less financial help as time goes on.

Term life insurance provides beneficiaries a death benefit if the insured dies while the policy is in force. While most deaths are covered, there are some circumstances under which a life insurance provider may deny a claim. For instance, a life insurance company may deny a claim if the insured:

  • Dies by suicide within the first two years of the policy.
  • Is murdered by a beneficiary.
  • Lies on their life insurance application.

The details of a term life insurance policy vary by insurer and policy. Always contact your life insurance company about policy details and coverage limitations.

Learn more: How does life insurance work?

Term life insurance coverage typically ends at the end of the policy term. However, you may be able to renew your policy or convert it to permanent life insurance, such as a whole life insurance policy. If you outlive your policy term and do not renew or convert the policy, your beneficiaries will not receive a death benefit after you die.

Symetra is the best term life insurance company. Pacific Life also gets a 5-star rating in our analysis of the best term life insurance companies. Both companies offer competitive rates, multiple term lengths and policies that can be converted to permanent coverage.

Other companies worth considering for term life insurance include:

  • Protective
  • Corebridge
  • Penn Mutual
  • Midland National
  • Banner Life/Legal & General America
  • Transamerica

The best life insurance company for you is one that meets both your coverage and budget needs, has a strong financial strength score and few consumer complaints. Always get and compare at least three life insurance quotes and policies before deciding which policy to buy.

No, you cannot cash out a term life insurance policy. Term policies do not include a cash value component.

Permanent life insurance policies, such as whole life insurance or variable life insurance, usually have a cash value component that you may be able to cash out.

The best coverage amount for a term life insurance policy reflects the financial needs of your life insurance beneficiaries and your reason for buying coverage. Here are some things to consider:

  • Do you want to replace your salary? If so, for how long?
  • Do you want to cover a mortgage? If so, what’s the remaining balance?
  • Do you want to pay for a child’s tuition?
  • Are there any other debts you want covered?
  • Will your beneficiary need to use the policy death benefit for end-of-life expenses?
  • Do you want a portion of your death benefit to be used as an inheritance?

You can also use a life insurance calculator to determine your needs or speak to a financial advisor who can help you assess your coverage needs.

Editor’s Note: This article contains updated information from previously published stories:

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Sarah Li Cain

BLUEPRINT

Sarah Li Cain is a finance and small business writer currently based in Jacksonville, Florida whose articles have been published with outlets such as Fortune, CNBC Select, the Financial Planning Association and Zillow.

Jennifer Lobb

BLUEPRINT

Jennifer Lobb is deputy editor at ӣƵ Blueprint and is an experienced insurance and personal finance writer. Jennifer served as an insurance staff writer and editor at U.S. News and World Report and deputy editor of insurance at Forbes Advisor. She also spent several years covering finance and insurance for various financial media sites, including LendingTree and Investopedia. For nearly a decade, she’s helped consumers make educated decisions about the products that protect their finances, families and homes.

Heidi Gollub

BLUEPRINT

Heidi Gollub is the ӣƵ Blueprint managing editor of insurance. She was previously lead editor of insurance at Forbes Advisor and led the insurance team at U.S. News & World Report as assistant managing editor of 360 Reviews. Heidi has an MBA from Emporia State University and is a licensed property and casualty insurance expert.