You may feel like a great weight has been lifted off your chest once you buy your life insurance policy, but there are still some things you should consider taking care of once the policy is purchased.

Financial planner Neal Frankle wrote a post this week on the blog Fivecentnickel.com, about how surprised he was to find while updating his financial plan, that he did not have enough life insurance coverage and actually needed to buy more.

Universal life insurance might sound like a policy that covers more than just your life, but in reality, universal life insurance is simply a life insurance policy that offers a death benefit as well as the option for cash value accumulation. With universal life insurance, you have a varying premium that you can pay.

One of the most basic and popular types of life insurance policies available is the whole life insurance policy. Whole life insurance policies pay out a death benefit over your entire life, unlike term policies which only pay for a certain period of time. In addition, they accrue cash values.

If you have been comparing life insurance rates then chances are good that you have looked at term life insurance. Term life insurance is a terrific product for people who:

1. Need a high dollar death benefit with a low dollar premium.
2. Need a temporarily high amount of life insurance death benefit.
3. Need a gradually decreasing amount of life insurance.
4. Need a simple, small burial policy.

One of the more popular forms of life insurance out there is variable life insurance. But why is this complex form of life insurance gaining such popularity, and how can it benefit your financial foundation?

Your life insurance policy doesn’t have to just cover you. In fact, you can simplify your life and budget by adding family coverage riders to your life insurance policy. These riders provide affordable coverage for your spouse and children.

A life insurance policy is not as straight forward a product as you might think. In fact, you can build a life insurance policy that adds additional benefit beyond the death benefit paid upon death of the policy holder. These additional benefits come in the form of riders, which are additional contracts that can be tacked on to a life insurance policy.

One of the most confusing aspects of shopping for life insurance lies in trying to understand all the terminology used in the industry. Agents tend to talk to clients as if they already understand terms like lapse, rider and cash value and consumers often don’t want to admit that they aren’t exactly sure what these terms mean. Following are some of the most commonly used terms in the industry to help make your search for life insurance a little bit easier.

If you can’t afford to buy life insurance there could be another way for you to get it-and that is through premium financing. In a premium financing arrangement, you are loaned the annual premium costs and the collateral on the loan is a stake in your life insurance death benefit proceeds.

If there is one extremely important asset that you have which is almost impossible to attach a dollar value to, it is your life. How do you determine what your life is worth to those who love you and would miss you after your death? Unfortunately, you can’t.

Before you start off on your quest to buy a life insurance policy and begin searching for online quotes, you need to understand the difference between term insurance and permanent (or “whole life”) insurance. While the terminology may seem foreign to you now, the differences are actually very easy to understand.

Your life insurance death benefit proceeds have a very important responsibility: to replace the money you would have earned had you lived. It also has to provide certain guarantees to your family-the guarantee that your kids can go to college and the guarantee that your family isn’t going to be thrown out of the home they love. This is understandably an overwhelming thought and can make the purchase of a life insurance policy very intimidating. Here are 3 easy steps to help you start the process.

When you are in your early twenties, your life often revolves around climbing up the corporate ladder during the weekdays and partying on the weekends. During those years, when death seems like such a far away notion, the thought of life insurance coverage and comparing life insurance quotes is probably not in the forefront of your mind. Unfortunately, not buying life insurance while you are young means that you miss out on some of the best life insurance rates of your life and can jeopardize the financial security of your future family.