FAQ's About Life Insurance Term Life vs Whole Life Insurance

Low Cost life insurance that saves your family hardship and protects your assets against tragedy. You can get free term life insurance quote in as little as five minutes. Why wait? Join the more than 10 thousand Californians that are already insured with us.

The purpose of life insurance

Term Life insurance is much more than just a decision of how much to buy. Depending on your financial situation, life insurance can be used for a number of reasons, such as:

• Providing for your family and children
• Paying your mortgage loan and other debts
• Transferring gained wealth or business assets
• Saving cash on a tax advantaged basis

So how much life insurance do a person need? One common benchmark is your death benefit should be about six to eight times your annual earnings, but there are a variety of factors to consider:

• Other income sources you may have.
• The size of your family or investment in assets.
• Whether your spouse works and his or her earning capacity.
• The death benefits your family will receive from Social Security.
• And any special needs such as mortgages, college education funds and estate planning.

The main purpose of life insurance is to protect the finances of one's family or friends in case of a wage-earner's death, but that's not its only use.  Life insurance can be used:

• To hire childcare to replace a home-maker's contribution
• For estate protection
• For mortgage protection
• To protect a business against the loss of a key employee
• As an employment benefit
• To fund a retirement

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