How to buy life insurance step by step
Decide the amount and type, then compare and apply with confidence.
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1
Decide how much you need
Use income replacement or the DIME method to set a target amount.
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2
Choose term or permanent
For most income protection, level term is the simplest and most affordable.
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3
Compare quotes from several insurers
Rates for the same coverage can vary widely between companies.
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4
Complete the application honestly
Answer health questions accurately to avoid a denied claim later.
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5
Name and back up your beneficiaries
Add a primary and contingent beneficiary, and store the policy where family can find it.
Educational content only — not legal, financial, or insurance advice. Requirements vary by state.