Term life insurance is simpler and cheaper, and may be suitable if you mainly need income replacement for a specific time, like while you’re raising kids. Whole life insurance provides lifelong ...

Fact checked by Vikki Velasquez Life insurance is a financial tool for protecting your family in the event of your passing.

Life insurance may not replace all your income, but it could help your family maintain their lifestyle after you die. In addition to income replacement, life insurance can be used to pay for ...