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Life insurance basics

  • Life insurance basics

    What is the purpose of life insurance?

    Life insurance protects your beneficiaries in the event of your death. A life insurance policy will pay a tax-free amount of money, known as the death benefit1, to your beneficiaries. The money can help them:

    • Replace your salary and maintain their standard of living.
    • Pay for your children’s college education costs.
    • Pay off debts such as your home.
    • Provide an extra cushion for things you just can’t predict.

    The goal of life insurance is to protect your beneficiaries from unnecessary financial hardship should you die.

  • Life insurance basics

    Why should I get life insurance?

    We get it – you may be young and healthy and more interested in planning your next adventure than worrying about anything bad happening. But as we all know, life happens. In the event of your death, wouldn’t it be a relief to know that you have a life insurance policy that can provide a death benefit to those you care about? We believe in preparing for the worst and hoping for the best, which is why we created Next Term Life specifically for people - who want to live life to the fullest, without worrying about what might happen.

  • Life insurance basics

    Isn’t life insurance expensive?

    Getting life insurance when you’re young is typically less expensive in the long run. In general, the younger and healthier you are, the less your insurance costs because the risk is low for the insurance company. Aren’t sure yet? Run a quote and find out the cost in minutes.

All references to “you or your” assumes the insured and policy owner are the same person.

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