Expertise.com

Best Life Insurance Companies in Fayetteville

Laurels
Laurels

We did the research for you!

Learn more
  • checkboxLicensing
  • checkboxUser Reviews
  • checkboxMystery Shopping Calls

Life Insurance Companies FAQs

Learn more
AAFMAA logo
Visit WebsiteWebsite

AAFMAA

639 Executive Pl Fl 3, Fayetteville, NC 28305
Visit WebsiteWebsite

Business Description

AAFMAA, or the American Armed Forces Mutual Aid Association, serves the military community, including veterans and military spouses, exclusively, offering life insurance and other insurance products. Founded in 1879, this nonprofit agency has more than 140 years of compassionate help for those it serves and now offers traditional term life, simple term life, and renewable term life policies. In addition, it offers permanent or whole life policies, including value-added, ANNUITYLife, and WealthBuilder life insurance coverage. Additional plans include Veteran Survivor Plans and Generations Plus coverage. Other AAFMAA products include mortgages, wealth management, investment management, trust services, and financial planning.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Facebook
4.0 / 5 (62)
Yelp
5.0 / 5 (22)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Accurrence Insurance logo
Visit WebsiteWebsite

Accurrence Insurance

5924 Cliffdale Rd Ste 120, Fayetteville, NC 28314
Visit WebsiteWebsite

Business Description

Accurrence Insurance in Fayetteville is a full-service independent insurance agency, founded in 1993, that offers both life and health insurance coverage. The locally owned and operated agency is licensed, bonded, and insured, and it's a member of the nation's oldest and biggest association of independent brokers and agents. This Trusted Choice agency offers term insurance and permanent life insurance products for individuals and families. In addition, its personal lines include health insurance, with a variety of plans available, such as HMO, PPO, EPO, POS, an HDHP/HSA plans. Some companies in its portfolio include Universal Insurance, Progressive, and GMAC.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Facebook
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Ai insurance logo
Visit WebsiteWebsite

Ai insurance

205 N Eastern Blvd, Fayetteville, NC 28301
Visit WebsiteWebsite

Business Description

Ai Insurance Agents Inc., a life insurance company in Fayetteville, sells a range of insurance products. Some carriers in Ai Insurance Agents Inc. portfolio include The Hartford, Liberty Mutual Insurance, Aflac, First Benefits Insurance Mutual, Hospital Insurance Group, and UnitedHealthcare. Its life insurance coverage offerings include whole life, universal life, variable life, term life, and final expense policies. Its health insurance portfolio includes carriers that write disability insurance and long-term care insurance. Both short- and long-term disability policies are available. The company also sells business and commercial insurance and policies for home and auto.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (7)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Al Kerr Insurance and Associates logo
Visit WebsiteWebsite

Al Kerr Insurance and Associates

111 Lamon St, Fayetteville, NC 28301
Visit WebsiteWebsite

Business Description

Al Kerr Insurance and Associates is a health insurance company in Fayetteville, founded in 1975. This friendly local insurance agency works to help customers find the best life insurance and health insurance plans on the market through its affiliations with several national companies. It offers a range of life insurance products, and it helps families and individuals protect themselves with affordable and comprehensive health insurance policies along with dental coverage and disability insurance. Additional products available from Al Kerr Insurance and Associates include homeowners, mobile home, motorcycle, auto, and travel insurance.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (10)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Ann McLeod logo
Visit WebsiteWebsite

Ann McLeod

7137 Raeford Road, Fayetteville, NC 28304
Visit WebsiteWebsite

Business Description

Ann McLeod is a homeowners insurance agent that serves clients in Fayetteville. She is dedicated to protecting her client's property from unpredicted events. She ensures that the clients can repair or replace their homes. Her home insurance policy covers the property in cases when the clients are on vacation or simply running errands. Ann also specializes in auto, life, health, and business insurance as well as protecting the client's valuable items which can include jewelry, collectibles, and sports equipment.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (8)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Callahan & Rice Insurance Group, Inc. logo
Visit WebsiteWebsite

Callahan & Rice Insurance Group, Inc.

129 Franklin St, Fayetteville, NC 28301
Visit WebsiteWebsite

Business Description

Callahan & Rice Insurance Group Inc. is a life insurance company in Fayetteville that offers health and life insurance options for individuals and groups. Founded in 1966, this local insurance agency is staffed by dedicated, qualified insurance agents to help clients choose the right coverage types and policies for themselves and their families. Term and permanent life insurance policies are available, and this Trusted Choice agency works closely with clients to help them navigate the Affordable Care Act and available health policies. Other offerings from Callahan & Rice Insurance Group Inc. include auto and homeowners policies and commercial/business insurance.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (7)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Cross Creek Insurance, Inc. logo
Visit WebsiteWebsite

Cross Creek Insurance, Inc.

3102 North Main Street, Hope Mills, NC 28348
Visit WebsiteWebsite
  • Life Insurance

Business Description

Cross Creek Insurance, Inc. is an independent insurance agency that provides insurance solutions for residents in Fayetteville, Raeford, and Hope Mills. It comprises insurance agents with in-depth knowledge about the different life insurance products from various carriers, including The Hartford, Travelers, National General, and Foremost. The team offers term life and whole life insurance policies. Its whole life policy has a cash value component, while the term life plan protects clients in a predetermined number of years.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Darden, Miranda & Associates Insurance logo
Visit WebsiteWebsite

Darden, Miranda & Associates Insurance

3007 Fort Bragg Rd, Fayetteville, NC 28303
Visit WebsiteWebsite

Business Description

Fayetteville-based Darden, Miranda & Associates Insurance is a local independent insurance company offering a range of policies, including life and health coverage. Founded in 1948, the agency works with an array of insurance carriers to help clients get the type of needed policy and the right level of coverage to match their situations and needs. Individual and family health insurance, disability insurance, and dental insurance policies are available. The company also sells individual life insurance coverage, including term, universal life, and whole life formats. Additional products offered by the agency include auto, home, and personal insurance.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Facebook
5.0 / 5 (16)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
East Coast Insurance Services - Fayetteville logo
Visit WebsiteWebsite

East Coast Insurance Services - Fayetteville

1010 Hope Mills Road, Fayetteville, NC 28304
Visit WebsiteWebsite

Business Description

East Coast Insurance Services is an independent agency located in Fayetteville. It provides a variety of products, such as homeowners'; auto, boat, ATV, and power sports; business, workers' compensation, and commercial umbrella insurance policies. The company is proud of upholding its core values, like integrity, service, commitment, and trust. Its owner and operator, Joe Barge, is a Certified Insurance Counselor who has completed five exams and 120 hours of classroom practice.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.1
Google
4.0 / 5 (166)
Facebook
5.0 / 5 (10)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Ethan Gardner logo
Visit WebsiteWebsite

License Verified:

License: 16717962

North Carolina Department of Insurance

Ethan Gardner

2615 Raeford Rd, Fayetteville, NC 28303
Visit WebsiteWebsite
  • Life Insurance

Business Description

Ethan Gardner is a State Farm insurance agent serving clients in Fayetteville and the surrounding areas. He offers several types of life insurance policies, including term life and whole life insurance. His agency also offers insurance products for cars, homeowners, renters, and condominiums. Ethan has been in the insurance industry since 2013. His team of insurance agents is committed to assisting clients in recovering from the unexpected and realizing their dreams by helping them manage everyday risks.

License Verified:

License: 16717962

North Carolina Department of Insurance

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (58)
Facebook
5.0 / 5 (9)
Yelp
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Hurley Insurance Group - McPherson Church logo
Visit WebsiteWebsite

Hurley Insurance Group - McPherson Church

134 North McPherson Church Road, Fayetteville, NC 28303
Visit WebsiteWebsite

Business Description

Located in Fayetteville, Hurley Insurance Group is an independent and locally-owned family business that has been operating since 1986. They are also licensed in South Carolina, Virginia, Georgia, Maryland, and Tennessee. Hurley Insurance Group is focused on providing full-service auto insurance, including policies for motorcycles, RVs, and boats; renters' insurance, business insurance, and life insurance policies. With years of exposure in the industry, they take pride in providing positive customer assistance and immediate responses at all times.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Google
4.0 / 5 (32)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Independent Insurance Group, Inc logo
Visit WebsiteWebsite

Independent Insurance Group, Inc

921 South McPherson Church Road, Fayetteville, NC 28303
Visit WebsiteWebsite

Business Description

Independent Insurance Group, Inc., has been serving North Carolina locals in the Fayetteville area since 1992. It offers a broad range of insurance products—from home and auto coverage to travel protection and annuities—and represents a wide network of carriers, including Aetna, MetLife, and Zurich. Jim Mozingo, its founder and president, has been in the industry since 1985 and is a Fredrick W. Joyner Distinguished Service Award recipient. He built the agency with the goal to combine accounting and financial expertise with years of insurance knowledge.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (9)
Facebook
5.0 / 5 (5)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Insurance Service Center logo
Visit WebsiteWebsite

Insurance Service Center

3820 Raeford Rd, Fayetteville, NC 28304
Visit WebsiteWebsite

Business Description

Based in Fayetteville, the Insurance Service Center, founded in 1975, offers a range of insurance services for its clients, including life insurance. This independent locally owned insurance agency has established relationships with more than 10 life insurance companies, and it leverages those relationships to tailor policies that meet the unique needs of families and individuals, with an eye toward getting the most cost-effective policy for each customer. In addition to life insurance, this Trusted Choice company also sells disability income insurance, long-term care insurance, annuities, and umbrella insurance. Other polices include homeowners, auto, and rental property coverage.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.1

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Jaime Shannon logo
Visit WebsiteWebsite

License Verified:

License: 7124883

North Carolina Department of Insurance

Jaime Shannon

4011 Sycamore Dairy Road Suite 107, Fayetteville, NC 28303
Visit WebsiteWebsite
  • Life Insurance

Business Description

Jaime Shannon is an insurance agent offering life insurance products in Fayetteville. She guides clients in making the right decision when getting life insurance. With her guidance, customers could pick the best among whole life, term life, or universal life coverages to secure their future. Shannon also offers auto, homeowners', and renters' insurance products. Shannon, who has been a State Farm agent since 2003, has served in the US Army as NCO for over six years.

License Verified:

License: 7124883

North Carolina Department of Insurance

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (55)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
North Carolina Farm Bureau Insurance Group logo
Visit WebsiteWebsite

North Carolina Farm Bureau Insurance Group

545 Person St, Fayetteville, NC 28301
Visit WebsiteWebsite

Business Description

North Carolina Farm Bureau Insurance Group is a life insurance agency in Fayetteville that sells a variety of insurance products for the local market. Its health insurance lines include policies include individual Blue Cross and Blue Shield of North Carolina policies, including traditional health coverage, dental and vision coverage, and Medicare supplement policies. This local Farm Bureau agency also sells life insurance, including term and permanent policies, through its Southern Farm Bureau Life Insurance Company and Southern Capital Brokerage LLC affiliations. In addition, the agency sells auto and home insurance policies.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (33)
Olde Fayetteville Insurance& Financial Services, Inc. logo
Visit WebsiteWebsite

Olde Fayetteville Insurance& Financial Services, Inc.

201 Hay Street, Fayetteville, NC 28301
Visit WebsiteWebsite

Business Description

Olde Fayetteville Insurance & Financial Services, Inc., is an independent agency working with more than 30 health and life insurance carriers. It caters to individuals, families, and businesses in the Fayetteville metro and offers a full range of insurance plans. These include life, health, disability, car, and homeowners' insurance. Its team of insurance agents also handles business insurance policies, such as workers' compensation, retirement planning, and self-funded employee benefit plans. The company also serves other areas like Raleigh and Durham.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.6 / 5 (8)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Steven W. Maier logo
Visit WebsiteWebsite

License Verified:

License: 2185495

North Carolina Department of Insurance

Steven W. Maier

3543 Kelburn Drive, Fayetteville, NC 28311
Visit WebsiteWebsite
  • Life Insurance

Business Description

Steven W. Maier is a financial service professional who assists clients in Fayetteville and throughout North Carolina in getting insurance products. The New York Life agent informs individuals about the protection they can get from life insurance policies. He explains plans such as whole life insurance, which has a cash value that can supplement retirement incomes. He directs them in making informed decisions about long-term care and investments. He works with other carriers in providing group and individual health policies.

License Verified:

License: 2185495

North Carolina Department of Insurance

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
The Insurance Guy logo
Visit WebsiteWebsite

License Verified:

License: 6550416

North Carolina Department of Insurance

The Insurance Guy

5310 Yadkin Road, Fayetteville, NC 28303
Visit WebsiteWebsite
  • Life Insurance
  • Health Insurance

Business Description

The Insurance Guy is a company that provides life insurance products to individuals who are looking for comprehensive coverages and policies to secure their future. Located in Fayetteville, the company covers term insurance and whole life plans and deals with annuities and health insurance policies with employers. It also offers home, auto, and commercial insurance policies. Jerome Scott, the company's head, has been providing his services in North Carolina for more than three decades. He is affiliated with the United Way Board and the Partnership For Children Board.

License Verified:

License: 6550416

North Carolina Department of Insurance

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.6
Facebook
4.9 / 5 (17)
Google
4.1 / 5 (11)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Thomas Owen logo
Visit WebsiteWebsite

License Verified:

License: 16503069

North Carolina Department of Insurance

Thomas Owen

6040 Cliffdale Rd., Fayetteville, NC 28314
Visit WebsiteWebsite
  • Life Insurance
  • Health Insurance
  • Home and Auto Insurance

Business Description

Thomas Owen is a State Farm insurance agent that has been serving the insurance needs of Fayetteville individuals and families since 2011. Owen provides life insurance plans that help clients maintain their current standard of living, keep the mortgage paid, pay for college, or pay off debts. He offers a term life insurance that protects policyholders for a specific period. Its term insurance benefits include a death benefit with no cash value. Permanent life insurance plans are also available.

License Verified:

License: 16503069

North Carolina Department of Insurance

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (72)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Tolar Agency, Inc logo
Visit WebsiteWebsite

Tolar Agency, Inc

2823 Raeford Road, Fayetteville, NC 28303
Visit WebsiteWebsite

Business Description

Tolar Agency, Inc., is an insurance and financial services company that serves clients in Fayetteville and nearby communities. The firm specializes in personal and commercial insurance. Some of its offerings include auto, home, life, health, umbrella, workers' compensation, business owner's policy, and commercial general liability insurance. Its insurance agents represent multiple carriers and help them select the best policy that suits their needs. The company also serves clients in other metro areas throughout Central North Carolina. It has been operating for more than three decades.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Google
4.0 / 5 (9)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Total Insurance Center logo
Visit WebsiteWebsite

Total Insurance Center

5412 Raeford Rd Ste B, Fayetteville, NC 28304
Visit WebsiteWebsite

Business Description

Total Insurance Center in Fayetteville, founded in 1983, is a premier insurance agency that represents dozens of insurance carriers, including those that write life and health insurance policies. For more than 30 years, its licensed insurance agents have strived to help customers find the most affordable and best coverage options. Its life insurance offerings include whole life, term life, and variable life insurance options. Its health insurance lines include individual health insurance, short-term medical plans, dental plans, and vision plans. Additional insurance coverage options from Total Insurance Center include auto, motorcycle, boat, and RV insurance and business insurance.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.7

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Townes Insurance Agency logo
Visit WebsiteWebsite

License Verified:

License: 6554541

North Carolina Department of Insurance

Townes Insurance Agency

8175 Cliffdale Rd Suite 106, Fayetteville, NC 28314
Visit WebsiteWebsite
  • Life Insurance
  • Individual Plans
  • Group Plans

Business Description

Townes Insurance Agency is a veteran-owned and veteran-operated business serving the Fayetteville community. It offers a wide range of life insurance product options, including individual, group, long-term care, disability, and mortgage protection. Its team helps clients review their options to secure the future of their finances and beneficiaries, whether they are looking for temporary or permanent insurance policies. The agency also provides insurance products for homes, powersports vehicles, and businesses. It partners with multiple insurance carriers such as Progressive, Dairyland, and Hagerty.

License Verified:

License: 6554541

North Carolina Department of Insurance

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.4
Google
4.3 / 5 (8)
Facebook
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Back to Providers

Frequently Asked Questions

Which is better, term or whole life insurance?

Life insurance is a personal financial tool, so the right type of insurance for you depends on your goals and current situation. One of the main differences between term life insurance and whole life insurance is that term life insurance only covers you for a set period of time. Once you meet the premium payment requirements on a whole life plan, it covers you for the rest of your life. Whole life insurance also builds cash value, making it a potential investment. But whole life insurance is typically much more expensive than term life insurance.

How much life insurance do I need?

A common recommendation is purchasing life insurance that is equal to five times your current salary, or more. But you can also estimate how much life insurance you need by adding up your debts, annual expenses for dependents multiplied by the years you want to ensure support, and any other items you wish to cover, such as a future wedding or college tuition.

How does life insurance work?

The details of how life insurance works depend on your individual plan, but the basics are as follows: 

  • You pay a premium to purchase the insurance. Typically the premium is paid monthly, but it could be rolled into quarterly, bi-annual, or annual payments. 
  • As long as you are meeting or have met premium obligations, if you pass away, the insurance company makes the agreed-upon payment to the beneficiaries you designated. 
  • Beneficiaries usually have to provide the insurance company with a death certificate to receive their payments.

How much is life insurance?

The cost of life insurance ranges widely. Term life insurance can cost as little as a few dollars a day, and whole life insurance can cost thousands per month on the high end. Factors that impact the cost of your life insurance include whether you're choosing term life insurance or whole life insurance, your age, how much coverage you want, your overall health, and your gender.

Is life insurance taxable?

Life insurance proceeds are the funds paid via your plan to your beneficiaries if you pass away. These are also called death benefits. Typically, these are not considered income for taxes. If you take out cash value from a whole life insurance investment and the amount exceeds how much you paid in premiums, the difference may be considered taxable income.


Can I buy health insurance that is not Obamacare?

When people say "Obamacare insurance," they typically mean insurance within the health insurance marketplace. You can get health insurance outside of the marketplace by going through your employer, choosing COBRA coverage if you leave your job, or buying a short-term health insurance policy through an insurance agent. ACA-compliant plans meet all the benefits and coverage requirements of the Affordable Care Act. But you may be able to find supplemental or short-term coverage that simply provides peace of mind for major medical expenses.

Can I buy health insurance anytime?

To buy health insurance in the marketplace, you must purchase it within open or special enrollment periods. But you can purchase short-term coverage to bridge the gap between now and the next open enrollment period. These plans are meant to be used for less than a year. You can purchase them online or via insurance agents, but they may not be ACA-compliant.

Who should buy supplemental health insurance?

Supplemental health insurance is a product that helps cover the cost of services that your primary health insurance policy doesn't. One popular option is secondary insurance that helps cover some of the costs associated with high deductibles. Medicare supplemental insurance is also popular. Medicare doesn't cover everything, and older adults on a limited income can face large prescription or medical bills after Medicare pays. Supplemental insurance helps reduce those patient costs.

Read all FAQs