Celebrate Life Insurance Awareness Month with Our Quizzes
Introduction
September is Life Insurance Awareness Month (LIAM). This year we're celebrating with two new infographics that can help you determine your basic coverage needs in 30 seconds (or less!). Let's explore these tools and learn more about life insurance.
Image Description: A happy family celebrating Life Insurance Awareness Month with informative infographics.
Do You Need a Policy?
First, figure out if you need a policy. Spoiler: People with dependents generally need coverage even if they have group life insurance through work. Our infographic will help you quickly assess whether life insurance is necessary for your situation.
Image Description: An infographic explaining the importance of having a life insurance policy for those with dependents.
Which Type of Life Insurance is Best for You?
Next, get a recommendation for what type of life insurance is best for you. Term life insurance covers you for a period of time—usually 10, 20, or 30 years—then expires. Whole life insurance stays in effect for your entire life and comes with a forced-savings vehicle. While whole life insurance might sound like the way to go, term life is actually the right pick for most shoppers given it's much more cost-effective.
Image Description: An infographic comparing term life insurance and whole life insurance.
How Much Coverage Do You Need?
Once you've settled on a type of life insurance, you'll need to figure out how much coverage to buy. Our experts generally recommend buying life insurance in an amount up to 10x your individual income with a term long enough to get you to retirement (age 65). However, we can provide a more tailored recommendation. Get started by comparing free life insurance quotes from over a dozen insurers.
Image Description: An infographic detailing how to calculate the appropriate amount of life insurance coverage.
Learn More About Term vs. Whole Life Insurance
Want to dive deeper into the differences between term and whole life insurance? Our detailed guide breaks down the pros and cons of each, helping you make an informed decision.
Image Description: A guidebook cover on term vs. whole life insurance, providing an in-depth comparison.
Conclusion
Life Insurance Awareness Month is the perfect time to evaluate your insurance needs and ensure you're adequately covered. Use our infographics and quizzes to determine the best policy for your situation, and don't hesitate to seek personalized advice from our experts.
Image Description: A family feeling secure and happy after choosing the right life insurance policy.