Term insurance comes in two basic varieties—level term and decreasing term. These days, almost everyone buys level term insurance. The terms “level” and “decreasing” refer to the death benefit amount during the term of the policy. A level term policy pays the same benefit amount if death occurs at any point during the term.

A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. You can name:

• One person
• Two or more people
• The trustee of a trust you’ve set up
• A charity
• Your estate

If you don’t name a beneficiary, the death benefit will be paid to your estate.

You can buy life insurance either as an “individual” or as part of a “group” plan.

Life insurance can be an essential part of financial and legacy planning. When shopping around for coverage, you may come across various products that fall into two main categories: term life and permanent life (also commonly referred to as whole life). Understanding the essential differences between these two main types of insurance can help you make coverage decisions according to your needs and goals.

In most cases, if you have no dependents and have enough money to pay your final expenses, you don’t need any life insurance.

If you want to create an inheritance or make a charitable contribution, buy enough life insurance to achieve those goals.

Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations:

Ice, snow and wind can have devastating consequences to your home—and to your household budget. Fortunately, there are precautions you can take to avoid the expense and inconvenience of winter damage—and even help you save on heating costs. Get started when the leaves begin to turn so your home is well prepared when the cold, harsh weather hits.

Though the results are worth it, home remodeling construction is usually a messy and disruptive process with lots of heavy equipment, sharp tools, and other potential dangers. Don't put your home improvement efforts and resources at risk: when undertaking a remodeling project, make sure that the house, the contractor and the subcontractors have adequate insurance coverage.

Here are some guidelines.

Bicycling is increasingly popular, both as a sport and as a means of transportation. Whether you spent a few hundred or a few thousand dollars on your bike, whether you use it to commute to work or to cycle around the block with your kids, it's important to understand the rules of the bike lane and protect your financial investment with the proper insurance.

Mold is destructive to your home and possessions—and the damage it causes generally isn't covered by homeowners insurance. Learn how to defend your home against mold.