Selecting a life insurance policy can feel overwhelming, but it boils down to assessing your needs, budget, and goals. Start by asking: Who depends on me, and what would they need if I were gone? This determines the coverage amount—often 5–10 times your annual income, plus debts like a mortgage.

Next, decide between term and permanent insurance. Term life suits temporary needs, like supporting young kids or paying off a loan. It’s budget-friendly and straightforward—ideal if your priority is affordable protection. Permanent life fits if you want lifelong coverage or a policy that builds cash value for future use, like retirement or estate planning. It’s pricier but offers more features.

Consider your health and age. Premiums rise as you get older or if you have medical conditions, so buying early often locks in lower rates. Insurers typically require a medical exam, though some offer “no-exam” policies at a higher cost. Compare quotes from multiple companies to find the best deal, and check their financial strength ratings (e.g., A.M. Best) for reliability.

Don’t overlook riders—optional add-ons like critical illness coverage or a waiver of premium if you become disabled. They tailor the policy to your needs but increase costs. Finally, review your choice periodically. Life changes—marriage, kids, or a new job—might call for adjustments. A financial advisor can help, but the right policy ultimately balances protection with what you can comfortably afford.