Skip to main content

Get your free personalized final expense life insurance quote.

Deciding If Life Insurance Is Worth it

Deciding whether or not life insurance is worth it for you depends on numerous factors. If you have a spouse, children, a mortgage, or you own your own business, a life insurance policy can help your family with certain vital expenses after you die. Below we examine five steps to getting a life insurance policy that works for you.

1. Know Your Options

There are two main types of life insurance: permanent life and term life. For some, a permanent policy may make the most sense because it provides lifetime coverage (provided you pay your premiums on time and in full) and accrues cash value. For others, a term policy may make the most sense because term policies are typically less expensive and less complicated than permanent policies. 

2. Determine Your Needs

When deciding which kind of life insurance policy is most worth it for you, consider the following:

Do you need life insurance for a specific amount of time or do you require lifetime coverage?

If you are looking for a life insurance policy that will just cover you for a specific amount of time, such as when your children are young or while you are paying a mortgage, you may want to consider a term life policy over a permanent life policy.

If you are wealthy and wish to leave an inheritance to your heirs, or if you require a life insurance policy that can also function as an estate planning tool, a permanent policy may make more sense for you.

Are you looking for a life insurance policy with cash value? 

Whole life insurance policies (a type of permanent insurance) build cash value in addition to providing a death benefit. You can access this cash value in various ways while living, which may be attractive.

If this is important to you, a whole life insurance policy could be a good fit for you. If you don't care about cash value, sticking with a term life policy could end up saving you money in the long run.

3. Decide How Much You Can Afford

As mentioned, whole life insurance policies are generally more expensive than term life insurance policies. The specific amount you'll pay for a life insurance policy depends on several factors, including your age, your health, the size of the death benefit and the insurance company you work with.

4. Get Help From a Licensed Life Insurance Agent

A licensed life insurance agent can help evaluate your unique circumstances and match you with a life insurance that is right for you. Speak with a licensed agent now at 1-855-303-4640


This is an advertisement for life insurance. 
Applications for life insurance may be subject to acceptance by insurer. Issuance of the policy may depend upon answers to health questions. Rates and coverage amounts depend upon the carrier selected. Your policy may be subject to underwriting approval. You will receive only the benefit amount in the policy issued.


Learn More