Life Insurance
Private life insurance is a contract between you and an insurer. In exchange for premium payments, the insurer may pay a death benefit to beneficiaries you choose when the insured person passes away, subject to the policy's terms. Common product types include term life, whole life, and universal life policies, each with different features, costs, and conditions.
Key considerations
- Coverage amounts and term lengths vary by product and insurer.
- Premiums depend on age, health information where applicable, and underwriting.
- Policy exclusions and conditions apply — review them carefully.
- Availability varies by state and individual circumstances.
Final Expense Coverage
Final expense coverage generally refers to a type of life insurance intended to help beneficiaries manage eligible end-of-life expenses, such as funeral, burial, and related costs. These policies are often smaller in face value and may have different underwriting requirements than other life insurance products.
Key considerations
- Intended to help with eligible end-of-life expenses, not as a full income replacement.
- Benefit amounts and eligibility depend on the insurer and product.
- Premiums and waiting periods may vary by policy type.
- Not the same as VA burial benefits, which have separate eligibility rules.
Family Protection
Family protection is a planning concept that considers how life insurance may fit into your family's overall financial plan. It focuses on helping provide financial support to loved ones in the event of a loss. The right approach depends on your family's needs, goals, budget, and the products available in your state.
Key considerations
- Coverage should align with your family's specific needs and goals.
- Review how a policy fits alongside any existing benefits or savings.
- Costs and terms differ across products and insurers.
- A licensed professional can help explain what may be available to you.
Insurance products, eligibility, premiums, benefits, exclusions, and availability vary by insurer, state, individual circumstances, and policy terms. This website provides general information and does not determine eligibility for any product or for government benefits. Military service alone does not guarantee approval.
Have questions about which option fits you?
A licensed insurance professional can help explain what may be available in your state.