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, whether its children, your spouse, or elderly parents, you can’t afford to go without it.


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While it’s depressing to think about the end, the upside of having a solid life insurance policy is the financial guarantee for your family if something should happen. 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, and how to shop around for the very best coverage. A life policy is not a financial decision to take lightly. For instance, you might not need the policy an agent wants to sell you; you might be better off with something very basic. The Simple Dollar has made differentiating what does and doesn’t matter when it comes to your life insurance much less intimidating.

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

    For More Articles on Life Insurance, Visit Our Life Insurance Resource Center. 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 …

  • Term Life Insurance: How Convertibles and Guaranteed Renewals Work

    For More Articles on Life Insurance, Visit Our Life Insurance Resource Center. 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 …

  • An Introduction to Earning Dividends with a Participating Policy Contract

    For More Articles on Life Insurance, Visit Our Life Insurance Resource Center. Life insurance is like ice cream, it comes in lots of flavors, and like ice cream flavors, no form of life insurance is clearly better than the rest. It’s all about personal preference which, when it comes to life insurance, can have a …

  • Who Needs Whole Life Insurance Coverage?

    For More Articles on Life Insurance, Visit Our Life Insurance Resource Center. Whole life insurance, like term insurance, will pay your beneficiaries a specific amount of money upon your death. The primary difference between term and whole life is that term insurance provides coverage for a set period (10 or 20 years, for instance), while …

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Coverage By State

Did you know 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, 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 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, and where to find 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. And if you’re thinking of moving to a new state or just looking to check up on how your extended family’s state works, you can browse through all fifty states.