Life insurance basics for your family
Life insurance is one of the simplest ways to make sure your family can keep going financially if you're gone. Here's the plain-language version — and the one mistake that quietly undoes it.
The two main kinds
- Term life: covers you for a set number of years (say 10–30). Cheaper and simpler — good for most families covering their income-earning years.
- Whole / permanent life: covers you for life and builds cash value. More expensive and more complex.
How much do families need?
A common rule of thumb is about 10× your income, plus enough to clear the mortgage and other debts and cover your kids' needs — but it depends on your situation. The point is that your family can pay the bills without you.
The mistake that quietly undoes it
A policy your family can't find — or can't prove — may never get paid. Keep your beneficiaries up to date (after a marriage, divorce, or birth), and make sure someone knows the policy exists and where to find it.
Where FamiliaLista fits
FamiliaLista records that you have a policy, which company, and where to find it — and delivers that to the people who'd need to file the claim. The insurer pays the benefit; FamiliaLista makes sure your family actually claims it. See what happens to my accounts if I die.
Your life's operations manual, ready in an afternoon
FamiliaLista stores your instructions, messages, and access — and delivers them to your people only if you're ever gone or unreachable. Via WhatsApp and email, in English and Spanish.
Start free →Familia plan from $79/year · Your family, ready. No matter what.
Frequently asked questions
Term or whole life?
For most families protecting their income-earning years, term life covers the need at a lower cost. Whole life suits specific estate or business situations — talk to a licensed agent.
How do I know if I have enough?
Cover your debts (especially the mortgage), replace several years of income, and add for your children's needs. An advisor can size it precisely.
What's the most common mistake?
Outdated beneficiaries, and a policy no one knows about. Review beneficiaries after big life changes and make sure your family knows the policy exists.
Is this financial advice?
No — general information. For your situation, talk to a licensed insurance agent or financial advisor.
More guides to get your family ready
What happens to your bank, digital, and business accounts if you die without instructions — and how to spare your family.How to leave instructions for your family (no lawyers needed)
Leave your family the essentials: accounts, payments, contacts, and wishes — organized and delivered only when needed.If your life hits pause: the emergency plan
An accident or hospitalization can pause your life without warning. How to keep your home and business running.Will vs. life operations manual: what each one covers
A will decides who inherits; a life manual solves what to do tomorrow morning. Why your family needs both.How to start the conversation with your family
Why it's hard, gentle ways to open the door, and exactly what to cover — so no one has to guess.Questions to cover at the family table
The list to sit down together and cover what matters: money, documents, health, wishes and more.See all guides →
All 18 guides to get your family ready, in one place.