If you are considering the purchase of a term life Insurance policy, you may want to follow some helpful tips before selecting your policy. 1. Determine how much life insurance you actually need. 2. Determine how many years you need your term life insurance policy to last to accomplish the goal you have for your life insurance policy. 3. Select the policy term (duration) that matches your need for coverage. 4. Compare rates on term life insurance form several of the leading insurance companies. 5. Choose a payment option that works for you and your budget. Paying annually may save you some money instead of paying monthly.