The two main types of life insurance are term and permanent

Whole and universal life insurance are two types of permanent life insurance

While they both stick with you for your whole life, they vary when it comes to added benefits, overall cost, and changes you can make to an active policy. The biggest difference between the two is that universal insurance lets you make changes to an active policy, whereas whole insurance is fixed.

Permanent life insurance policies can sometimes help you cover expenses, access cash, and more

If you’re planning on purchasing permanent life insurance, your policy will come with a cash value (which acts like a savings account). To make the most of this account, you could pay your life insurance premium, apply it towards a loan, or put it towards long-term or terminal care.

Term life insurance costs about $80 per month

Permanent life insurance, on the other hand, can run you anywhere between $540 and $700 a month. However, the average monthly cost can vary depending on your age, sex, and policy type.

A life insurance cost calculator

The overall cost of life insurance coverage ranges widely. Factors like your term length, death benefit (the money paid out after death), health and lifestyle, and any added benefits can drastically change your monthly cost. This calculator can help you determine how much your desired coverage could run you per month.

If you decide to buy term life insurance, coverage will eventually expire

If you decide to buy term life insurance, you’ll no longer have coverage once the agreed-upon timeframe is over. You can always plan ahead to pay off major expenses before your coverage ends, but if this doesn’t happen, you may need to renew or replace your policy.

Final life insurance is most common for people over the age of 50

Final expense life insurance is a type of life insurance where, instead of paying a sum of money to your beneficiaries after death, the insurance covers the expenses for your funeral, burial, and any end-of-life care.

Life insurance policies and annuities are both contracts between individuals and insurance companies

But while life insurance policies are paid out only after an individual dies, annuities are intended to provide a steady income while the investor is still alive. Also, life insurance protects an investor's family in the event of their death, but an annuity helps protect an investor from outliving their retirement savings.

Life insurance offers peace of mind, ensuring that loved ones are financially supported after one's passing

People typically apply for life insurance policies through specific companies or online marketplaces. This video offers more information that's important to know when considering buying life insurance.

Most life insurance policies cover death by natural causes or accidents

However, some other causes aren’t always covered. Suicide in the first two years of coverage, high-risk activities or jobs, and war or terrorism aren’t typically covered by life insurance, for instance. However, some added benefits (or “riders”) can account for some of these situations.

Some people don't like talking about life insurance—perhaps because they fear death

But CBS News business analyst Jill Schlesinger makes a case for why life insurance is worth discussing anyway on this "CBS Mornings" segment. She also reviews the different types of life insurance, who can be a beneficiary, and other basics.

A basic guide to retirement savings account options, the IRA and the 401(k)

The two main types of accounts are 401(k) plans and individual retirement accounts (IRAs)—but what do those mean, exactly? There are differences between the two types, as well as the subtypes beneath them.

Mortality tables help determine the probability of death for specific populations

A mortality table is a diagram that helps predict a specific population’s likelihood of death within a particular time period. Life insurance companies often use them to help figure out pricing for their insurance products. They’re sometimes known as actuarial tables or life tables.

Investors can buy three main types of bonds: government, corporate, and municipal

Each type has variations of its bond offerings with different interest rates, loan lengths, maturity dates, and terms. Each type also carries its own risks and rewards.

The pros and cons of long-term renting

Soaring mortgage rates and inflated home prices have led more consumers to opt to rent instead of buying, becoming “forever renters.” This article weighs the costs and benefits of renting instead of buying. Benefits include flexibility, less upkeep, and potentially lower expenses, while downsides include less stability and reliance on landlords. Read this article and decide whether homeownership or renting is the choice for you.

The 30-year fixed-rate mortgage is by far the most popular in the US

The most common types of loans are conventional, jumbo, fixed-rate, adjustable, and government-backed.

A revocable living trust is the most common type of trust

With a revocable trust, the grantor can alter or dissolve the trust at any time. A living trust, is one that the grantor creates during their lifetime (as compared to a “testamentary” trust, which a grantor establishes in their will to be read after death).

Different CDs can have different term lengths, interest rates, and more

For instance, if a bank needs more deposits to fund loans, then it may offer high interest rates to attract deposits. Alternatively, a large bank with sufficient deposit reserves may have less incentive to grow its CD portfolio, offering lower rates as a result.

Breaking down the different types of vaccine technologies

There are several different types of vaccines. Each type is designed to teach your immune system how to fight off germs—and the serious diseases they cause. This short overview breaks down the differences between the types.

Long- and short-term capital gains have different tax implications

Short-term gains (assets held for one year or less) are taxed like regular income, at rates up to 37%. Meanwhile, long-term gains (assets held over a year) are capped at 20%, offering significant savings for high earners.

Medicare vs. Medicaid explained in 60 seconds

Medicare and Medicaid both provide government-funded healthcare but serve different groups. Medicare, launched in 1965, covers those 65 and over and has three parts: hospital stays (A), outpatient care (B), and prescriptions (D). Medicaid, funded by federal and state governments, supports low-income individuals, with eligibility varying by state.

Read about different levels of price discrimination

Price discrimination is a business practice in which different customers are charged different prices for the same product or service. It's one way for a business to boost profits and take advantage of its market position. There are three levels of price discrimination, differentiated by the consumers targeted and the reasons for discrimination.

What's the difference between weather and climate?

A five-minute TedEd video exploring the differences between weather and climate – what they are, how we predict them, and what those predictions can tell us.

Group therapy is not the same thing as a support group

Group therapy, facilitated by a licensed therapist, is typically covered by insurance or involves a fee. Support groups are often peer-led and usually come with no cost.

What's the difference between a stock and a share?

While the words "stock" and "share" are often used interchangeably in casual conversation, they have different meanings. For instance, "stock" is more general, whereas "share" is more precise.

Chronological versus biological age

Science has come to understand different types of aging. What we call age is simply the number of years since birth, or chronological age. At the cellular level, biological aging happens at different rates for different people, and explains why some seem to age more quickly (or slowly).

Apeirophobia is an overwhelming fear of living forever, perhaps stemming from the brain's inability to conceptualize an infinite life.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

See the most iconic photos from four decades of LIFE magazine

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Learn how your body is, scientifically, like a firework with its own slow, controlled burn.

Despite being favored by 87% of Americans, Congress does not have term limits.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

Massive 3D printers have been used to build homes by stacking layers of 'concrete toothpaste,' a fire-resistant material that effectively insulates against outside noise.

Corals are themselves not coral reefs—the term refers to the tiny marine invertebrates that build the rigid reef.

Alzheimer's can lead to brain shrinkage, with an average of around 2% of volume reduction per year

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

Volcanoes 'die' when their supply of magma runs out, if they are shifted away from their underlying magma reservoir, or if they get clogged by collapsing or their magma cooling back into rock.

While El Niño moves warm Pacific Ocean waters east along the equator, La Niña moves them west, shifting where rainfall will become more common for months.

Learn how monoclonal antibodies, which mimic the body's antibodies, can fight diseases like Ebola.

The syncytiotrophoblast is the outer layer of the placenta and the largest human cell, spanning an area about twice that of a king-sized bedsheet.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

Some Pokémon have been named after real and fictional organisms, while some real-world species have been named after Pokémon, such as Chilicola charizard and Binburrum zapdos.

The rivalry between Alexander Hamilton and Thomas Jefferson centered on federalism—the question of how much power the federal government should hold relative to the states.

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

The Russia-Ukraine conflict is the largest ground war in Europe since World War II in casualties, forces mobilized, and displacement of civilians.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Pure water does not conduct electricity because this flow of energy requires the movement of charged particles, and water is a neutral molecule.