Life Insurance 101

Life insurance doesn’t have to be intimidating. We’ll take you through the basics of the different types of coverage, the costs, and more.
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All the Reasons to Get Life Insurance

Before making such an important decision, it helps to have the facts

What's the Difference Between Term Life and Whole Life Insurance?

We lay out the pros and cons of term and whole life insurance, so that you can feel confident to make an educated decision

Everything You Need to Know About Life Insurance

Helping provide your family with financial protection doesn't have to be confusing

How to Buy Life Insurance

The ins-and-outs of a potentially life-changing purchase for the people you love

How Much Life Insurance Do I Need?

Don’t worry, you don't need to be a rocket scientist to calculate how much life insurance you need

No Exam Life Insurance

No exam life insurance is a policy you can sign up for without a full medical exam

Term Life Insurance

Term life insurance is a type of life insurance that covers you for a specific period of time (aka, ‘term’)

Whole Life Insurance

Whole life insurance is a type of permanent life insurance that essentially guarantees an income-tax-free payment when the policyholder passes away

Should I Have a $1 Million Life Insurance Policy?

We break down how a $1 million policy could help set up the people who matter most

What Are the Different Types of Life Insurance?

We break down some of the most popular types of life insurance, and also explore some less traditional coverage types

What Does Term Life Insurance Cover?

Here's how your policy could help your loved ones in their time of need.

Calculating the Cost of Life Insurance

How much is enough life insurance? And where do you begin?

Why Did I Get Denied for Life Insurance?

If you've been turned down for a policy, you're not the only one

Irrevocable Beneficiary

An irrevocable beneficiary on a life insurance policy cannot be changed or removed without the beneficiary’s consent

What Happens in a Life Insurance Medical Exam?

Let's get physical, physical

Insurable Interest

Insurable interest means having a financial stake in a person, a home, or a piece of personal property

Beneficiary

The primary beneficiary of your life insurance policy is the person, charitable organization, trust, estate, or business who receives the payout when you die

Contingent Beneficiary

A contingent beneficiary is the person or organization that is second in line to receive the payout from your life insurance policy if your primary beneficiary cannot

Death Benefit

The death benefit is the amount an insurance company promises to pay out, generally tax-free, when the life insurance policyholder dies

Permanent Life Insurance

Permanent life insurance typically guarantees an income-tax-free payment when the policyholder passes away

Credit Life Insurance

Credit life insurance is an insurance policy that promises to pay off a specific loan if you should pass away with outstanding debt

Should I Choose a 10, 20, or 30-Year Term Life Policy?

Let's ponder how long you'd like to be covered for.

Life Insurance for New Parents

You might be distracted right now, but this stuff is important.

What Types of Term Life Insurance Are There?

Level term? Convertible? Return of premium? We break it down.

Return of Premium Life Insurance, Explained

Who doesn't want their money back? But things get a bit more complex.

Please note: Lemonade articles and other editorial content are meant for educational purposes only, and should not be relied upon instead of professional legal, insurance or financial advice. The content of these educational articles does not alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. While we regularly review previously published content to ensure it is accurate and up-to-date, there may be instances in which legal conditions or policy details have changed since publication. Any hypothetical examples used in Lemonade editorial content are purely expositional. Hypothetical examples do not alter or bind Lemonade to any application of your insurance policy to the particular facts and circumstances of any actual claim.