Life Insurance

You may ask yourself, why do I need life insurance? If you’re healthy, don’t participate in any high-risk activities, and have no family history of illness, why “bet” on dying by paying for life insurance? The reality is, if people depend on you, financially speaking, whether its children, your spouse, or elderly parents, you can’t afford to go without life insurance.

While it might be depressing to think about the end, the upside of having a solid life insurance policy is the financial guarantee for your family if the unthinkable happens. But before you go out and buy the first policy you encounter, you’ll need to learn how the industry works, how to identify the right policy for you, and how to shop around for the best possible coverage. A life insurance policy is not a financial decision to take lightly. For instance, you might not need the kind of policy an agent wants to sell you; you might be better suited investing on your own or buying a very basic policy. The Simple Dollar has made differentiating what does and doesn’t matter when it comes to your life insurance a much less intimidating process.

This guide is structured to educate both newcomers to the life insurance field and people who already have a policy and are looking to keep it up to date or convert it into a better long-term investment to help consumers leave behind a healthier financial legacy.

Insurance Guide

As an attorney and an adjunct professor, Karla Lant knows the importance of sound advice and reliable information. Her experience in estate planning and life insurance research make her uniquely qualified to provide consumer-friendly information on this complex industry.

From a basic rundown of different types of life insurance to navigating your way through the complexities of investment-type policies, readers of all backgrounds and ages can benefit from The Simple Dollar's approach to life insurance.

Our guide is also dedicated to accurate, unbiased information – no sales pitch here. It’s your life and your money, and only you can decide what’s right for you and your family, but after reading this guide to life insurance, you’ll find yourself far more informed and confident when it comes to managing your life policy yourself.

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Everything you need to know about life Insurance

  • Face and Offset Funeral Costs Early with Life Insurance

    Planning our own funeral or making plans for our own post-mortem is uncomfortable. But, as Benjamin Franklin said, “In this world nothing can be said to be certain, except death and taxes.” It may be easier to avoid confronting mortality by leaving the funeral planning up to our families, but it’s also a burdensome legacy

  • Term Life Insurance: How Convertibles and Guaranteed Renewals Work

    Starting a family comes with questions you never had to consider before, such as the financial well-being of your loved ones following your death. Life insurance will provide for their needs later, but right now you just can’t afford permanent insurance; whole, universal or variable life. Like many first time life insurance buyers you’ve decided

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Coverage By State

Did you know that each state has its own commission to determine how much insurers are allowed to raise their rates each year? Depending on how your home state regulates these rates, you may experience heavy rate increases every year. If so, you’ll want to choose a policy that offers fixed rates for a long period of time. You might pay more in premiums now, but you’ll be guaranteed a better deal in the long run.

This is just one example of how life insurance varies from state to state. Fortunately, The Simple Dollar makes it easy to get familiar with your state’s regulations, how to contact your local government with questions or concerns, and a wealth of other state-specific info.

Additionally, you’ll find graphs and data on the average cost of insurance and a breakdown of the types of insurance available in your state. And if you’re thinking of moving to a new state or just looking to check up on how your extended family’s state regulations work, you can browse through a wealth of data for all fifty U.S. states.