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The holiday season is a time of joy, celebration and giving. As you think about what to get for your loved ones, consider a gift that goes beyond the material and provides a lasting impact — the gift of security through life insurance.

While it may not be the most traditional present, life insurance offers a unique and thoughtful way to show your care and commitment to the financial and emotional well-being of those you love.

In a world where material possessions tend to be a big focus during the holidays, the gift of life insurance stands out as a symbol of love and foresight. Unlike the latest technology or accessories, life insurance is a gift that transcends the immediate joy of unwrapping. It also doesn’t go out of style.

Choosing the right coverage

Selecting the right life insurance coverage involves thoughtful consideration of your loved ones’ needs and your long-term financial goals.

Here are some things you should do if you’re thinking of giving life insurance as a gift: 

  • Assess your financial needs: Evaluate the financial needs of your family. Consider outstanding debts, mortgage obligations, educational expenses and daily living costs. The goal is to choose a coverage amount that provides financial stability in your absence.
  • Pick the right product: Understand the difference between term life and whole life insurance. Term life offers coverage for a specified time period (10, 15, 20 or more years), while whole life provides lifelong coverage with a cash value component. Each option has its merits, and the choice depends on your preferences and financial objectives.
  • Consider your life and changes: Take into account any significant life changes that may have occurred during the year. Have you welcomed a new family member? Has there been a change in income or financial responsibilities? It’s important to adjust your life insurance coverage to reflect these changes. You should also consider the future and any plans you have.
  • Consider yourself, too: While life insurance is a gift for your loved ones, consider how it aligns with your own financial goals. Some policies offer cash value accumulation or dividends that can contribute to your long-term financial planning. A gift that keeps on giving.

When you’ve chosen the right coverage, celebrate the achievement and share the good news as part of your holiday gift-giving.

You can create a personalized presentation for the life insurance gift. This could involve a heartfelt letter explaining the meaning of the gift, or a card expressing your love and commitment. Personal touches make the gift more memorable.

A thoughtful conversation about the gift is also helpful.

Have a family discussion: Consider planning a family discussion or meeting with a financial advisor to discuss insurance and financial plans in more detail. This can provide an opportunity for everyone involved to ask questions, share their perspectives and develop a financial plan with family input.

Include loved ones in the conversation: Discuss the importance of securing your family’s future and the peace of mind that life insurance brings. According to the 2023 Insurance Barometer study, conducted by LIMRA and Life Happens, while 60% of respondents with financial dependents say they would be financially secure if a primary wage earner were to pass away, owning life insurance makes a significant difference: only 49% of non-owners feel secure versus 69% of life insurance owners, a 41% difference.

Address any concerns or questions they may have and emphasize that this is a demonstration of your enduring love and responsibility.

Understand and share the value of benefits: Take the time to educate your loved ones about the benefits of life insurance. Help them understand how the coverage works, what it protects against and how it can serve as a financial safety net. Knowledge empowers them to make informed decisions.

A gift that lasts a lifetime

In a season filled with fleeting moments of joy, the gift of life insurance stands out as a lasting testament to your love and commitment. It’s a gesture that extends beyond the holiday season, providing peace of mind and security for the years to come. As you wrap up your holiday shopping, consider the impact life insurance can have on the lives of those you cherish — the gift of a secure and protected future.

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Alison Salka


Alison Salka, Ph.D., is senior vice president, member benefits, at LIMRA, a leading life insurance industry research group.


The opinions expressed by outside experts in’s “Expert Opinion & Commentary” section reflect those of the author and do not necessarily reflect the views of, its parent company QuinStreet Inc. or any of its affiliates and employees. Our editors review these articles and monitor them for accuracy after they've been posted, but the insurance industry sees constant rate changes, regulatory shifts, and other changes. Readers should always check an insurance company's website or contact.