Buying life insurance is easy with SelectQuote.

Life insurance isn’t a one plan fits all, but we can help you compare life insurance coverage and rates from some of the most trusted life insurance companies in just minutes.

Seven Tips for Buying Life Insurance

Buying life insurance is an important step to protecting your loved ones’ financial future. With so many options and different types of life insurance coverage, SelectQuote can help you through the process. We want you to feel confident that your life insurance policy meets all your needs and your budget. Whether you’re a first-time life insurance buyer or reshopping your policy, keep these seven tips for buying coverage in mind.

#1 Understand Why You Need Life Insurance

If anyone depends on your income or financial support, or might be responsible for any debts following your passing, then you should at the very least be considering life insurance. In the case of your death—and the loss of your income—a life insurance policy means your family and loved ones are financially protected.

The funds received from a death benefit payout can help with daily expenses, paying off the mortgage or other debts, paying for college, planning for retirement and more. A life insurance policy is a gift that provides both financial security and peace of mind.

#2 Know the Different Types of Life Insurance Coverage

Life insurance policies generally come in two categories: term life insurance and permanent life insurance.

Term life insurance policies last for a specified period of time—usually 10, 15, 20, 25 or 30 years. The length that’s right for you will depend on both your current situation and future goals. Term life insurance often has flexible payment options, is an easy way to build a policy that meets all your needs, and is also the most affordable option. While permanent life insurance policies are intended to last the length of your entire life, they are often more expensive than term life policies.

#3 Determine Your Desired Life Insurance Coverage Amount

Not only should you be looking for the type of life insurance you want to purchase, but you also want to be considering the amount of coverage you need and for how long you’ll need it. These answers are different for everybody, but it will likely depend on your stage of life and financial situation.

Newlyweds, new homeowners and young families often choose longer term life insurance policies, such as 30 years, while families with older children or those who are closer to retirement age may choose shorter terms. The amount of coverage will depend on your income and how much money would be required to maintain your family’s current standard of living while keeping an eye on the future.

Our life insurance calculator can help you get started on figuring out how much life insurance might be right for you.

#4 Be Prepared to Answer Questions on the Life Insurance Application

During the application process, life insurance carriers will want to evaluate your medical history and family background. You’ll be asked to share any hospitalizations, medications, procedures, surgeries and more from the last five years. Additionally, they’ll want to know about your lifestyle, habits and hobbies.

#5 Be Honest During the Life Insurance Application Process

Providing the most accurate and complete information will help secure your best possible rate. If there is any misrepresented information on your life insurance application, the insurer may consider you a moral risk and deny your application. Not only can you be denied coverage from the carrier you applied to, but it can also jeopardize getting coverage elsewhere.

#6 Shop Around and Compare Life Insurance Rates

It may seem like an easy option to choose an insurance provider you’re currently familiar with, but there’s a strong possibility you could be missing out on a policy with greater coverage or a better price if you don’t shop around. Life insurance rates and coverage vary widely by company so exploring all of your life insurance options is important.

Shopping around can seem intimidating and time consuming, but we can help make it easy. We’ll get to know your needs and provide you with multiple quotes from some of the most trusted life insurance companies in just minutes.

#7 Get a Free Quote with SelectQuote Today: Life Insurance Buying Made Easy

We can help you figure out the right life insurance policy for your situation and find you the right coverage with the right carrier at the right price.

See What People Said About Buying Life Insurance With SelectQuote

Still have questions? Learn more about term life insurance with SelectQuote.

While there are a number of things to consider before buying life insurance, we’re here to make the process easy. We will get to know your needs and shop some of the most trusted insurance companies, finding you multiple quotes in just minutes.

How to Buy Term Life Insurance

Do I need a medical exam to get term life insurance?

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SelectQuote does not sell Life Insurance in South Dakota.

SelectQuote Insurance Services has no control over rate information posted in the reviews above through Trustpilot. Your plan could vary depending on your age, health, issuing company and other factors. Not available in all states.

50% savings is based on published rates from a National Carrier as of March 2022 for a 40-year-old male in excellent health with high blood pressure for a $500,000 10-year term policy for $49.14/month ($565.00/year) compared to the lowest available rate from one of the insurance companies SelectQuote represents of $17.85/month ($209.99/year). Final rates will be based on the insurance company’s underwriting and a more complete review of the consumer’s health. Savings may also vary by term, policy amount, and state.

Best's Credit Ratings™ are under continuous review and subject to change and/or affirmation. For the latest Best’s Credit Ratings™ and Best’s Credit Reports (which include Best’s Credit Ratings™), visit the A.M. Best website at ambest.com. See Guide to Best’s Credit Ratings™ for explanation of use and charges.” “Best's Credit Ratings™ reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of SelectQuote or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best's Credit Ratings™. Best’s Credit Ratings™ are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.” A Best’s Financial Strength Rating opinion addresses the relative ability of an insurer to meet its ongoing insurance obligations. It is not a warranty of a company’s financial strength and ability to meet its obligations to policyholders. View our Important Notice: Best's Credit Ratings for a disclaimer notice and complete details at http://www.ambest.com/home/ratings.aspx

* All policies are Protective Classic Choice Term 10. Policy is a level death benefit term life insurance policy to age 90, policy form number ICC16 TL-21/ TL-21, and state variations thereof, issued by Protective Life Insurance Company in all states except New York where it is issued by Protective Life and and Annuity Insurance Company policy form number TL-21-NY 4-16. Both companies located in Birmingham, AL. Policy form number and features may vary by state. Consult the policy for benefits, riders, limitations, and exclusions. Subject to underwriting. Up to a two year contestable and suicide period. Benefits adjusted for misstatements of age or sex. In Montana unisex rates apply. Premiums increase annually after the initial guaranteed premium period. All payments and guarantees are subject to the claims paying ability of the issuing company.

Policies issued by American General Life Insurance Company (AGL), Houston, TX. AGL does not solicit, issue, or deliver policies or contracts in the state of New York. AGL is responsible for financial obligations of insurance products and is a wholly owned subsidiary of Corebridge Financial, Inc. Corebridge Financial and Corebridge are marketing names used by AGL. Guarantees are backed by the claims-paying ability of the issuing insurance company. Products may not be available in all states and product features may vary by state.

**https://www.who.int/gho/women_and_health/mortality/situation_trends_life_expectancy/en/

50% savings is based on published rates from a National Carrier as of October 2022 for a 40-year-old male in excellent health with high blood pressure for a $500,000 10-year term policy for $39.14/month ($450.00/year) compared to the lowest available rate from one of the insurance companies SelectQuote represents of $17.73/month ($209.85/year). Final rates will be based on the insurance company’s underwriting and a more complete review of the consumer’s health. Savings may also vary by term, policy amount, and state.

Example rate is lowest available rate from SelectQuote carriers for a 40-year-old male in excellent health for a $500,000 10-year policy at $17.85/mo ($209.99/yr) in December 2021. Final rates will be based on the insurance company’s underwriting and a more complete review of the consumer’s health. Savings may also vary by term, policy amount, and state.

Best’s Credit Ratings™ are under continuous review and subject to change and/or affirmation. For the latest Best’s Credit Ratings™ and Best’s Credit Reports (which include Best’s Credit Ratings™), visit the A.M. Best website at ambest.com. See Guide to Best’s Credit Ratings™ for explanation of use and charges.” “Best’s Credit Ratings™ reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of SelectQuote or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Credit Ratings™. Best’s Credit Ratings™ are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.” A Best’s Financial Strength Rating opinion addresses the relative ability of an insurer to meet its ongoing insurance obligations. It is not a warranty of a company’s financial strength and ability to meet its obligations to policyholders. View our Important Notice: Best’s Credit Ratings for a disclaimer notice and complete details at http://www.ambest.com/home/ratings.aspx

SwiftTerm Select is a term life insurance policy issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004. Policy form number is ICC22_LC1 in most states and is not available in all U.S. states or any U.S. territory.

Guarantees and benefits are subject to the claims-paying ability of the issuing life insurance company.

SelectQuote Insurance Services, Inc. is an independent producer and is responsible for the creation of this quote, including accuracy of rates and Symetra is not responsible for any errors or omissions in this information. All information and data in this quote are for illustrative purposes only; actual premiums and coverage will be based on age, health history, certain underwriting criteria, sex, and nicotine usage.

In the event that there is a discrepancy between the information contained in this quote and the Symetra policy, the Symetra Life insurance policy shall govern.

Symetra Life Insurance Company's current financial strength ratings can be found by referring to www.symetra.com/ratings.