Be Prepared for Life (and Death)


If you die, the people who are dependent on you suddenly will be suddenly bereft of you and your income.


So claim open enrollment season for yourself—whether you have job benefits or not—and invest in one of the cheapest ways to sleep better: life insurance.

Most people overestimate the cost of life insurance, and cost is the top reason people say they don’t have it, according to surveys by the Life Insurance Marketing and Research Association (LIMRA).

Yet a basic, level term policy—not a cash policy or whole life, which are often overpriced and unnecessary—is around $30 to $40 per month for $500,000 worth of coverage, depending on your age and health.

SA term policy acts like home insurance. You pay each month for coverage in case of a crisis; you don’t get the cash back. That’s why it’s cheaper.

If your employer is offering extra coverage this time of year—sign up for it. (The basic policy that comes with your job is usually inadequate.)

And if you’re fending for yourself, and your loved ones, use the web to shop around, advises Money magazine: “You can get tons of quotes.” Then, sign up, and sleep better.


Out of the Box
Getting an instant premium quote online is tricky, and often involves a callback from an agent. When you’re just starting out, try IntelliQuote to get a rough sense of what to expect.


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