Protect the people who count on you.

Term covers a set period (10–30 years) at the lowest cost per dollar of protection. Whole life lasts a lifetime and builds cash value at a higher premium. Neither is 'better' — they solve different problems.

✓ Your checklist

1. Define the job: replacing income while kids are home usually points to term; lifelong needs point to permanent coverage.
2. Pick a premium you can sustain — a lapsed policy protects no one.
3. Ask whether the term policy is convertible to permanent later without new health questions.

A common shortcut is 10–12× annual income, but the better method is DIME: Debt + Income years to replace + Mortgage balance + Education costs for your kids.

✓ Your checklist

1. Run the DIME math for your household.
2. Subtract existing coverage — including work coverage, which usually ends with the job.
3. Cover the gap with a term that lasts until your youngest is independent or the mortgage is paid.

Final expense is smaller whole life coverage (commonly $5,000–$50,000) for funeral and end-of-life costs, with simplified health questions and often no medical exam.

✓ Your checklist

1. Estimate realistic costs — a typical U.S. funeral runs well into five figures.
2. Ask whether the benefit is level (full from day one) or graded (waiting period).
3. Tell your beneficiary the policy exists and where the paperwork lives.