Learn how to find a life insurance policy for your family.

When it comes to protecting your family, life insurance is essential. After you're gone, your family may be stuck with monumental fiscal responsibility. From mortgage payments to estate taxes to outstanding debts, these responsibilities don't disappear after you've passed, but they transfer over to your loved ones. Ensure that you give your family the financial means they need to survive with life insurance. However, with so many different types of policies, it can be hard to navigate through all the terminology and coverage plans. Check out this guide to understanding life insurance. Permanent vs. Term Policies. There are two main categories when it comes to life insurance; a permanent policy and a term policy. While both types will give you coverage, keep in mind that they're a little different. A permanent policy gives you death benefits along with a financial savings plan. Within the permanent life insurance umbrella are whole life insurance and universal life insurance. A term policy gives you death benefits. However, they're only valid for a set term. If you outlive your policy, then you need to take out a new policy. However, term policies are usually more affordable than permanent policies. Determining Coverage Needs. When taking out a policy, you need to find out how much coverage to give your family. Calculate your income, savings, your monthly expenditures, and any debts. Additionally, calculate in any expected future costs. Once you take an inventory of your finances, you'll be better able to determine how much your family will need to survive in the event of your passing. Get the protection that your family needs with the right life insurance. The professionals at Weeks & Associates Insurance Services in Thousand Oaks, California can help you find the best personal and commercial insurance for your needs. Contact us for more information.