When considering life insurance, assess your dependents' financial needs and existing resources. Determine the coverage amount by factoring in expenses like bills, college tuition, and debts. There are two main types: term life, which is cheaper and for a specific period, and permanent life, which offers lifelong coverage and cash value. No-exam options are available but may vary in cost. Be truthful on applications to avoid policy denial. Compare quotes from multiple insurers to find the best coverage and rates.
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