Image that reads, “Most people need more than 10x the life insurance that they get through their employer.”

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Debating whether you actually need life insurance? If any of these apply to you, it’s worth looking into:

You have people who depend on you. Life insurance can help cover the needs of dependents — like siblings, parents, friends, kids, and even pets — who you may not have thought of yet.

You have private or cosigned loans. Not-so-fun fact: Many private loans aren't forgivable upon the borrower’s death. Life insurance can help ensure those debts don’t get passed on to your beneficiaries.

A life-threatening disease or illness runs in your family. You’re in the position to start estimating any expenses that could arise. Life insurance can help cover hospital bills, funeral costs, and the like.

Ready to choose a life insurance policy and not sure where to start? We like to recommend Policygenius, a women-led online marketplace that allows you to compare policies based on your specific needs and circumstances. They make it easy to get life insurance right (and save money while you’re at it).

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DISCLOSURES

Ellevest is a paid partner of Policygenius. Policygenius Inc. (DBA Policygenius Insurance Services in California) (“Policygenius”) is a licensed independent insurance broker. Policygenius receives a commission from insurance companies for the insurance policies it sells. Products may not be available in all states.

Ellevest may receive compensation from third party partners for referring you to such partners for non-investment consumer products or services. This marketing partnership gives Ellevest an incentive to refer you to these partners instead of businesses that are not partners of Ellevest. This conflict of interest affects the ability of Ellevest to provide you with unbiased, objective promotions about the products and services of its business partners. This could mean that the products and/or services of other businesses that do not compensate Ellevest may be more appropriate for you than the products and/or services of Ellevest’s business partners. However, you are not required to purchase the products and services that Ellevest promotes.

Ellevest is not affiliated with these third party partners and does not provide, nor does it guarantee, any third-party product, service, information or recommendation. Claims provided herein were provided by these third party partners and have not been independently verified by Ellevest. The third parties providing these products or services are solely responsible for them, as well as all other content on their websites. Ellevest is not liable for any third party’s failure with regard to those advertised products, services and benefits. These advertised products and services may not be FDIC insured or bank-guaranteed, may be subject to a different privacy policy than Ellevest, and may not be available in all states. You should check individual offers, products and services to become familiar with any applicable restrictions or conditions that may apply.

All opinions and views expressed by Ellevest are current as of the date of this writing, for informational purposes only, and do not constitute or imply an endorsement of any third-party’s products or services.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice.

Information was obtained from third-party sources which we believe to be reliable but are not guaranteed for accuracy or completeness.

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Ellevest - Life Insurance 101: Things to consider

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