Life Insurance Made Simple

By Kiplinger Washington Editors

Buying life insurance is arguably one of the most important financial decisions you can make, and one of the most confusing. The number of policies to choose from, and the complexities of some forms of life insurance, can make comparison shopping difficult, if not impossible.

This tutorial was constructed to help you cut through the confusion, and determine the type and amount of life insurance you need.

When Should You Buy?
If no one depends on your income for support, you probably don't need life insurance at all.

How Much Do You Need?
The answer is based on a formula that considers immediate and future needs and how much income your dependents will have when you're gone.

What Kind Should You Buy?
For most people, term insurance makes the most sense. If you're looking for a savings component, get ready for some real confusion.

How Do You Get the Best Policy at the Best Price?
Here's our guide to getting the most bang for your coverage buck. We've also included a key to insurance ratings.

When Should You Buy?