Which life insurance should I get?


Here are the basic types of life insurance you should know before choosing one:

Permanent life: Choose whole life or universal life insurance for a lifelong policy that appreciates. Since coverage doesn’t expire, permanent insurance is excellent for inheritance. However, these policies cost extra.

Term life: Often called pure life insurance, compensates the policyholder’s heirs for a certain term. The policyholder can extend the term, convert it to permanent coverage, or let it lapse.

Final expense: If you’re older or require protection for burial or other end-of-life costs, final expense insurance is reasonable and easy to qualify for. 


How do I pick the right life insurance?

First, you have to consider these questions,


  • Are you financially supporting a spouse, partner, or other family member? How long would they need your pay to live if you died?

  • What end-of-life costs do you wish to cover?

  • Have you saved enough for your retirement?

  • Mortgage? What’s your repayment schedule?

  • Do you pay for your kids’ schooling or child care?

  • Do you want your kids to go to college? Until when? Should institutions be public or private? When is that going to start?

These questions might help you evaluate how long your loved ones will require coverage and which policy is best. Use our life insurance calculator to determine coverage amounts and understand how long you should have life insurance

When it comes to protecting your family’s financial future, life insurance is a crucial consideration. That’s why we’ve partnered with Ladder to make simple, affordable and flexible term life insurance options available to Nudge customers.

Ladder makes it easy to apply for coverage. You can do it online in as little as 5 minutes, with no medical exam, only health questions asked, for up to $3M in coverage. The policies are uniquely flexible and adjustable as your needs change so that you’re never overpaying for more coverage than you need. Start your application

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