Life Insurance

  • Will there be an income gap for your family if there is an unexpected death?

  • Do you have life insurance? 

  • If you have life insurance, is it the right policy? 

  • Do you know how much life insurance you need? 

  • Do you know the key factors of how to select the best insurance? 

  • Do you review your life insurance policy annually?

Things to consider

Life insurance is an important part of your financial plan to help manage risk. For the insurance we do need, we want to pay as little as possible for it. Life insurance should be viewed as an expense, not an investment. Because of that, we see term insurance as the best choice for the majority of our clients, offering the most coverage and flexibility at some of the lowest costs.


What you need to know

Ways to help reduce life insurance costs:

  1. Buy sooner rather than later
  2. Quit smoking
  3. Adopt a healthy lifestyle
  4. Use an agent to shop for the best deal that meets your needs

Who is term insurance good for?

  1. People in their family-formation years
  2. People looking for inexpensive life insurance for a set number of years

Reasons people own life insurance:

  1. To help replace lost income if a wage earner is suddenly gone
  2. Covering burial and other financial expenses
  3. Help pay off mortgage and other debt

What it means

For example

A 40-year-old male non-smoker in otherwise good health can purchase a million-dollar 10-year term life insurance policy for less than $28 per month.*

Review your policy annually with one of our insurance professionals. Work with your advisor to complete the coverage estimator above to determine if you need additional life insurance.

Contact an Advisor >>

* This hypothetical rate is for a 40-year-old male in great health and with a preferred rating. Rates are determined by factors such as tobacco use, health, family medical history and lifestyle. Your actual premium will be determined by underwriting review. Rates may vary by state.

1. LIMRA — “Facts from LIMRA, Life Insurance Awareness Month, September 2015

2. LIMRA — 2015 Insurance Barometer Study

Term Life Insurance products are offered through TMFS Insurance Agency, LLC (TMFS Insurance) in states where licensed. TMFS Insurance is an affiliate of Financial Engines Advisors L.L.C. (FEA). Neither FEA nor its employees receive any commissions or referral fees from TMFS Insurance. For additional information, visit

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Important Information

*This is a partial listing of Financial Engines’ customers as of December 31, 2017. These companies have consented to disclosure of their relationships with Financial Engines. This does not constitute an endorsement or approval of the advisory service provided. Third-party marks appearing on this site are the property of their respective owners.

*Investment News, RIA Data Center, 2018

*Methodology: InvestmentNews qualified 2,172 firms headquartered in the United States based on data reported on Form ADV to the Securities and Exchange Commission as of May 1, 2018. To qualify, firms must have met the following criteria: (1) latest ADV filing date is either on or after January 1, 2017, (2) total AUM is at least $100M, (3) does not have employees who are registered representatives of a broker-dealer, (4) provided investment advisory services to clients during its most recently completed fiscal year, (5) no more than 50% of amount of regulatory assets under management is attributable to pooled investment vehicles (other than investment companies), (6) no more than 25% of amount of regulatory assets under management is attributable to pension and profit-sharing plans (but not the plan participants), (7) no more than 25% of amount of regulatory assets under management is attributable to corporations or other businesses, (8) does not receive commissions, (9) provides financial planning services, (10) is not actively engaged in business as a broker-dealer (registered or unregistered), (11) is not actively engaged in business as a registered representative of a broker-dealer, (12) has neither a related person who is a broker-dealer/municipal securities dealer/government securities broker or dealer (registered or unregistered) not one who is an insurance company or agency.

All information provided through the Education Center is for education purposes only and does not constitute investment, legal, or tax advice, an offer to buy or sell any security or insurance product or an endorsement of any third party or such third party's views. Whenever there are hyperlinks to third-party content, this information is intended to provide additional perspective and should not be construed as an endorsement of any services, products, guidance, individuals, or points of view outside Financial Engines. All examples are hypothetical and for illustrative purposes only. Please contact one of our investment advisors for more complete information based on your personal circumstances and to obtain personalized individual investment advice.

Videos presented on this website are for educational purposes only and do not constitute investment advice or an offer to buy or sell any security or insurance product.

©2018 Financial Engines, LLC. All rights reserved. Financial Engines® is a registered trademark of Financial Engines, LLC. All advisory services are provided by Financial Engines Advisors L.L.C. Financial Engines does not guarantee results and past performance is no guarantee of future results.

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