Why Should I Purchase Life Insurance?
The simple answer is to protect your loved ones. Life insurance can give you peace of mind, knowing those who depend on you for regular income will be financially protected. Navy Federal offers several affordable options.
A whole life insurance policy, sometimes referred to as “permanent life,” offers lifelong protection. In addition to insuring your life, it can be customized to address unique financial goals, like transferring your assets and charitable giving. Options that don't require a medical exam are available.All Members Military Members
What is life insurance, and why do I need it?
Life insurance is an amount of money paid to your loved ones in the event of your death. It can pay off debts and final expenses, fund children's education, pay off a mortgage and take care of day-to-day needs for those who depend on you.
How much coverage do I need?
While you can’t pinpoint exactly how much life insurance you’ll need to purchase down to the nickel if you use a strategy that takes into account your current financial situation and future needs, you can make an informed estimate. Figure out how much you need by considering a few key factors using our life insurance calculator.
What’s the difference between term and whole life insurance?
Whole life insurance is probably the most well-known and offers you lifelong protection with benefits including wealth transfer, charitable giving and maintaining the same standard of living for your family. Term life insurance is good for fixed-term coverage needs like paying off a mortgage or funding your child’s education.