When I was younger, I used to be the shirtless headbanger at rock concerts – so I was not the type of person who’d ever thought about getting life insurance.

Things change, people age and put on shirts, and I got to a point where I had a wife and a family, and it was something I really needed to think about.

The whole process of buying life insurance was overwhelming at first, but I dove into research and found an excellent experience with Bestow.

Bestow provided life insurance for me in under 5 minutes and started at $5 a month.

I looked at sooo many companies first, though. If you know at the back of your mind that life insurance is something you need, keep reading.

Here are the 5 things you need to learn about life insurance before choosing a plan.

1. Term Vs. Whole

The first thing I kept seeing pop up was the decision between term or whole life insurance.

Term Life Insurance provides death benefits. It’s purchased for a set time period, such as 5, 10, or 20 years.

If you pass while the policy is in effect, your beneficiary will receive the full amount you have set aside. It needs to be renewed once it expires, or it no longer applies. Bestow offers term life insurance for 2 year, 10 year, or 20 year terms.

Whole Life Insurance provides death benefits as well as a cash percentage that accumulates during the lifetime of the policy. It covers you for life and typically has higher monthly premiums.

2. What You’ll Be Asked

Both types of policies typically require a health exam. However, it is possible to get a policy without one (very helpful if you don’t like taking unnecessary blood tests!). Bestow’s term plans don’t require a blood test – you’ll be required to submit your medical records and answer questions about your lifestyle, like your tobacco use.

3. Who Can’t Get Life Insurance

If you’re a rock climber or scuba diver, you’re probably going to have some trouble. You’ll also encounter difficulty or high premiums if you smoke or have certain chronic illnesses, like HIV.

4. The Cost

In general, whole life is more expensive. Bestow’s premium was the least expensive starting point I’d ever seen – at $5 a month. Typically, a healthy younger person may see premiums of around $25 a month.

Also, big tip: if you’re younger, it makes sense to get a policy now because your premiums will be lower. When you reach a certain age, it can become too expensive or even impossible to get life insurance.

5. Online Vs. Over the Phone

I was expecting the sign-up process to be super detailed and include many phone transfers between different people. Seriously, I was shocked when, after submitting my online application with Bestow, there was only a short wait followed by an approval! I didn’t need to speak with a human being unless I wanted to (Gen X, here). Many companies will require phone calls and overwhelming paperwork, but only a few like Bestow are completely online and have the option to use the chat feature.

After all my research, I was confident Bestow was a good choice for me at this time in my life. Now that I’m signed up, I never have to think about it. This has been a huge weight off my shoulders that I didn’t even know was there, and I’m so grateful.

Learn more about Bestow today and protect your loved ones no matter what happens.

Getty Images/Westend61

string(4267) "
 When I was younger, I used to be the shirtless headbanger at rock concerts – so I was not the type of person who'd ever thought about getting life insurance. 
 Things change, people age and put on shirts, and I got to a point where I had a wife and a family, and it was something I really needed to think about. 
 The whole process of buying life insurance was overwhelming at first, but I dove into research and found an excellent experience with Bestow. 
 Bestow provided life insurance for me in under 5 minutes and started at $5 a month. 
 I looked at sooo many companies first, though. If you know at the back of your mind that life insurance is something you need, keep reading. 
 Here are the 5 things you need to learn about life insurance before choosing a plan. 
1. Term Vs. Whole
 The first thing I kept seeing pop up was the decision between term or whole life insurance. 
 Term Life Insurance provides death benefits. It's purchased for a set time period, such as 5, 10, or 20 years. 
 If you pass while the policy is in effect, your beneficiary will receive the full amount you have set aside. It needs to be renewed once it expires, or it no longer applies. Bestow offers term life insurance for 2 year, 10 year, or 20 year terms. 
 Whole Life Insurance provides death benefits as well as a cash percentage that accumulates during the lifetime of the policy. It covers you for life and typically has higher monthly premiums. 
2. What You'll Be Asked
 Both types of policies typically require a health exam. However, it is possible to get a policy without one (very helpful if you don't like taking unnecessary blood tests!). Bestow's term plans don't require a blood test – you'll be required to submit your medical records and answer questions about your lifestyle, like your tobacco use. 
3. Who Can't Get Life Insurance
 If you're a rock climber or scuba diver, you're probably going to have some trouble. You'll also encounter difficulty or high premiums if you smoke or have certain chronic illnesses, like HIV. 
4. The Cost 
 In general, whole life is more expensive. Bestow's premium was the least expensive starting point I'd ever seen – at $5 a month. Typically, a healthy younger person may see premiums of around $25 a month. 
 Also, big tip: if you're younger, it makes sense to get a policy now because your premiums will be lower. When you reach a certain age, it can become too expensive or even impossible to get life insurance. 
5. Online Vs. Over the Phone
 I was expecting the sign-up process to be super detailed and include many phone transfers between different people. Seriously, I was shocked when, after submitting my online application with Bestow, there was only a short wait followed by an approval! I didn't need to speak with a human being unless I wanted to (Gen X, here). Many companies will require phone calls and overwhelming paperwork, but only a few like Bestow are completely online and have the option to use the chat feature. 
 After all my research, I was confident Bestow was a good choice for me at this time in my life. Now that I'm signed up, I never have to think about it. This has been a huge weight off my shoulders that I didn't even know was there, and I'm so grateful. 
Learn more about Bestow today and protect your loved ones no matter what happens.
 Getty Images/Westend61 
"

Let’s get down to the nitty gritty when it comes to paying off your debt early. Debt can accumulate in many ways, be it credit card debt, student loans, gym memberships, car loans, mortgages, or medical bills.  When you consider all the debt that’s piled up over time, it can become invasive and extremely overwhelming.

Keep reading

In this month’s Money Journal, Celia is organized and disciplined yet enjoys her life “to the Max” Welcome to Money Journal, a monthly Paypath series that examines how Americans really handle their finances. Our participants keep a journal of their earnings, spending, and savings (if any), then share what it’s like to live in their

Keep reading

Trying to cancel your gym membership can be more tiring than actually attending that kickboxing class you keep skipping. Getting out of your gym contract can be so tough that people are going to great lengths to avoid paying any penalties. After going into debt living a lifestyle she couldn’t afford, this woman forged fake

Keep reading

By Massimo Tornambe Scott Disick, aka “Lord Disick” has gained fame and a devoted following since his appearances on the reality show, Keeping Up with the Kardashians. Disick is renowned for his expensive taste in clothes, cars, and women. The question that millions of fans are asking is: where did his fortune come from? Scott

Keep reading

Who could live without online shopping? It’s a standard routine in so many households. Whether you’re stocking up on groceries, snagging the latest and greatest tech sensation, shopping for holiday gifts, or treating yourself to a new outfit, the convenience of buying this stuff while in your pajamas is hard to beat — at least

Keep reading

Everyone says the economy’s healthier than ever, but some of us still find it necessary to make that paycheck stretch…and stretch…and stretch. The better we understand our spending habits, the better we can manage them. Living frugally can benefit you in many ways. You’ll grow more self-reliant, creative, and resourceful as you learn to make

Keep reading

Most parents welcome visits from their grown-up children. But what happens when the kids head back home when life gets rough and then never leave? This scenario is playing out more and more frequently as 20-something adults try to cope with – or hide from – skyrocketing costs in an increasingly expensive world. Lou Carloza

Keep reading

If your business offers corporate credit cards or expense accounts to employees, there’s a good chance there is unethical spending going on. 33% of corporate credit card holders admit to blatantly defrauding the companies they work for, and twice that amount confess to making “risky purchases.” But a thread on AskReddit reveals some of the

Keep reading

You Lose $20K Each Year Just For Being a Mom You may not know this, but there was a time when smoking was considered “liberated” behavior for women. There was a cigarette company Virginia Slims that was created specifically to attract female smokers during the bad old 1970s. The slogan was “You’ve come a long

Keep reading

We’ve all heard it before. Takeaway is way more tempting than cooking at home night after night after night. But although ordering-in might save you precious time, at the end of the day I’ll bet your wallet takes the hit. Everyone on the planet resorts to takeout after a long day’s work — and I’m

Keep reading