Life Insurance Quickview
What the sassy Geico gecko isn’t telling you...

Not literally, because safety nets made of paper aren’t too sturdy. But it’s a way to help your family or someone close in case you suddenly, or do we put this gently...die. Consider how much money your family needs to live comfortably after you're gone.

If you pay your monthly or annual premiums on time, when you die the insurance company pays your family the amount of money specified in the policy. Of course there’s paperwork involved and you have to do some work to get the money, but this is how it works.

Term Insurance covers you for a set amount of time. Example: If you have a 20-year term policy, you have to die within those 20-years for it to pay out.

Permanent Insurance is a lot more expensive but it never expires. You either have to buy this when you’re young or have a lot of money.

We’re not going to lie: Insurance is very complicated, and there are a multitude of ways you can structure your insurance to meet all your specific needs. So you’ll need an agent to help you make the right calls. [Dig Deeper: How to choose an agent]