This is a common assessment tool used to add up all your liabilities to help determine how much coverage would be needed to your surviving beneficiaries.

Riders are the extra benefits that a policyholder can buy to add on to a life insurance policy. The most common include guaranteed insurability, accidental death, waiver of premium, family income benefit, accelerated death benefit, child term, long-term care, and return of premium riders.

The waiver of a premium rider will pay for your policy’s premiums in case of a disablement of the named insured.

A guaranteed purchase option allows an insured person to increase his or her coverage amount without providing evidence of current insurability.

Typically the life insurance purchased through your employer is not enough to cover your insurance needs. There is also a downside: If you change jobs/professions, you will not be able to take that benefit with you.

A family member, a business partner, a charitable organization, a legal entity like a trust, or your estate are prime examples of beneficiaries.

Whole life insurance policies are the most popular and preferred policy to offer children.

No, death benefits avoid taxation and probate.

Term life insurance are typically offered at age 18 and a paramedical exam is typically performed in the home of the applicant or other arranged location. Whole life starts as early as 12 days.

Yes, this is something offered by most carriers.

Cash value will vary depending on the type of policy you take on. Typically, the policy will start accumulating cash value as early as three years.