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So, you’ve decided you need life insurance. Good for you.  Now where the heck do you get started? Navigating the world of life insurance is a challenge, and money-grubbing insurance agents are little or no help.

Here are the ten most important things you need to know about term life insurance, before you drop a single dime:

1. Don’t buy whole life. You don’t need it. A whole life policy is supposed to be a life insurance policy plus an investment. There are other investments that can make you a lot more bank. We promise. Stick with a term life insurance policy.
2. Policies are sold on commission. Don’t believe a word the agent says to you. He’s probably not lying, but he’s not looking out for your best interests, either. He’s probably going to try to sell you a whole life policy. Remember up above where we said “don’t buy whole life?” Stick to that. Do your own research before you pick up the phone to call an agent.
3. Buy enough term life insurance coverage to fill your needs. Only you can decide exactly how much money your family needs after you die. Some “experts” recommend six years or more worth of your salary. That’s probably too much. You’re not looking to make your family millionaires, you just want them to be comfortable, and able to not struggle when you’re gone.
4. Match the policy to your family situation. If you don’t have kids, you don’t need as much insurance. You want your policy to last as long as it will take to get the kids out of the house, or until your retirement starts.
5. Buy it when you’re healthy. If you try to buy term life insurance when you’re sick, you’ll pay more. A lot more.
6. Don’t lie on the health history. The company may not find out. However, they may find out after you’re gone, and can sometimes refuse to pay based on an inaccuracy on the application.
7. Shop online. You really can get a better deal on life insurance online. Just make sure you’re comparing apples to apples.
8. Don’t forget discounts. You can often get a discount on your policy just by getting term life insurance through a company you already do business with, such as your homeowners insurance company.
9. Don’t buy whole life. No, really. Keep your investments separate from your insurance.
10. Talk with your family. Make sure they know what kind of insurance you have, and what to expect. It will make coping with your loss just a little easier.