Let’s face it — thinking about life insurance isn’t most people’s idea of a good time. Not only can insurance be dry and complicated, but the idea of death is pretty unsettling.

Still, no one wants to leave their loved ones unprepared, and life insurance is one of the worker benefits that many employers offer during the end-of-year open enrollment season.

That makes now a great time to learn more about it, especially if you are wondering whether getting coverage through work is right for you.

Choosing between term and whole life insurance

Term life insurance covers you for a set term, meaning period of time. It can be relatively simple to get and typically costs a lot less than whole life insurance, which covers you for the rest of your life and has additional financial benefits beyond a lump sum death benefit (we’ll get into this below).

But there’s a tradeoff: If you outlive your insurance term, you’re left with nothing to show for it. Plus, the term life insurance offered by many employers — known as group term life insurance — often covers workers just for the length of their employment, so if you change jobs, you may have to find new coverage.

Is your employer policy enough?

Employers that offer group term life insurance often provide a baseline benefit amount and pay all or most of the premium for you.

Since there’s little or no cost, and usually no medical evaluation or paperwork required, taking this coverage is one of the few no-brainers you’ll encounter in your benefit selection.

However, one of the big drawbacks to getting term life insurance through work could be a low benefit amount. More than half of employers who offer life insurance provide one year’s worth of pay or less, and just 2% offer more than two years’ worth, according to a 2023 study by Guardian Life.

Then the question becomes: Do you need to buy more coverage? There is no one-size-fits-all answer, but here are some ways to determine what your family will need if you aren’t around.

How much life insurance do you need?

Life insurance is meant to protect loved ones from financial disruption, so at a basic level, you want to think about replacing your income.

•  Some experts recommend getting coverage for at least 10 times your annual salary.

•  Or, you could multiply your annual salary by the number of years you have left before retirement.

•  Or you can add up a list of expenses. Some financial planners recommend carrying enough insurance to pay off all your debts (including a mortgage if you share a home with someone) and to support your spouse and dependents for one year after your death. Other considerations may include college tuition expenses for children, the cost of health insurance, replacing your 401(k) match, childcare expenses if your surviving spouse were to return to work, and the cost of replacing your contributions to the household (home maintenance, tax preparation.)

If it seems daunting, don’t stress. A life insurance calculator (here’s ours) can be a good place to start.

What about getting your own policy?

Leaving aside the affordability of getting coverage through your job, there’s no doubt buying your own life insurance policy gives you a lot more control.

You can choose the exact kind of coverage you want: term life, whole life, or universal life, which is another type of permanent coverage.

Permanent coverage, which is much less commonly offered by employers, comes with higher premiums. But it never expires, and it offers savings and investment options — and the ability to borrow against the cash value of your policy.

Here’s another consideration: Even if term life insurance makes the most sense for you, and your employer offers additional coverage at an extra cost, is that employer coverage the best option for you?

On the one hand, the employer’s group discount can make coverage more affordable. And you may be able to get a better deal if you’re older or have health problems.

On the other hand, there can be less flexibility to add a spouse to the policy or make other adjustments. And don’t forget employer-provided life insurance is linked to your job — and sometimes to full-time status. If you leave the job or cut back your hours, you could lose coverage.

Who might benefit from taking out term life insurance?

For people on a tight budget, term life insurance is the most affordable choice. You can use lower-cost term policies to cover your insurance needs and invest separately in an investment account, such as an Individual Retirement Account or workplace 401(k).

Generally speaking, term life insurance can be a good choice for people who are looking for protection until retirement, when a surviving spouse would inherit their retirement assets and Social Security survivor benefits. Or, would-be parents could consider their children’s graduation timeline when buying a term policy.

Who might benefit from taking out whole life insurance?

If you’re looking to reclaim some of the value of your premium payments, whole life may be a good option because policyholders can withdraw payments tax-free or take tax-free loans against the cash value.

Whole life insurance may also be a good choice for someone who fears a surviving spouse might run out of money in retirement.

Whether you opt for term life for its affordability and simplicity, or whole life for its lifelong coverage and financial benefits, the key is to ensure your coverage matches your family’s future financial needs. Remember, life insurance isn’t about you — it’s about providing for those you love when you’re no longer able to do so.

Coverage and pricing is subject to eligibility and underwriting criteria.

Ladder Insurance Services, LLC (CA license # OK22568; AR license # 3000140372) distributes term life insurance products issued by multiple insurers- for further details see ladderlife.com. All insurance products are governed by the terms set forth in the applicable insurance policy. Each insurer has financial responsibility for its own products.

Ladder, SoFi and SoFi Agency are separate, independent entities and are not responsible for the financial condition, business, or legal obligations of the other, SoFi Technologies, Inc. (SoFi) and SoFi Insurance Agency, LLC (SoFi Agency) do not issue, underwrite insurance or pay claims under LadderlifeTM policies. SoFi is compensated by Ladder for each issued term life policy.

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A Shutdown to Trump All Others

The federal government officially entered a shutdown at 12:01 a.m. ET on Oct. 1, the 11th such event involving furloughs in U.S. history. As usual, the lapse in federal funding stems from partisan politics. The shutdown is on track to become the longest government shutdown in U.S. history, surpassing the 35-day record set in 2018-19.

The human and economic costs are vast and grow more severe the longer they last.
The Bipartisan Policy Center estimates that 670,000 federal employees have been furloughed, while another 730,000 are required to work without pay. Exact figures are hard to pin down, but consensus suggests that shutdowns lower GDP by 0.1 to 0.2 percentage points for every week they go on.

It’s already lasted over four weeks, and betting markets suggest roughly even odds that the shutdown lasts somewhere between 45 and 50 days, which would bring us to mid-November — a little over a week before Thanksgiving. Though shutdowns have historically had a limited and temporary impact on the stock market, the longer this one lasts, the harder it is to imagine it not being consequential.

How Many Days Will the Government Be Shut Down This Year?

Euphoria: Earned or Borrowed?

Last month, while Washington grappled with internal dysfunction (what’s new?), the market was focused on other things.

Trade tensions with China briefly ratcheted higher when President Trump threatened the country with an additional 100% tariff. Stocks initially fell sharply on the news, but two things may have led to a fairly quick reversal. First, Trump began to walk back the threat in a move reminiscent of TACO summer. Perhaps more importantly, however, earnings season began, and the results were mostly stellar. This helped offset macroeconomic uncertainty and reinforced the powerful narrative around artificial intelligence, which has driven investor optimism all year long.

The strength of Q3 2025 earnings season was evident. With nearly half of S&P 500 companies reporting in October, 82.8% reported higher-than-expected earnings per share, substantially above the 5-year and 10-year averages of 78.6% and 76.3%, respectively. If sustained for the rest of the Q3 earnings season, that would mark the best performance since the second quarter of 2021.

Alongside this fundamental strength, the market turned notably speculative. Lower quality and higher beta stocks surged, with investors increasingly willing to chase momentum in a possible sign of fear of missing out (FOMO).

% of Companies With Positive EPS Surprises

Market Recap

Asset Returns

October 2025 Sector Total Returns

Macro

•  Federal funding lapsed on October 1, the start of the fiscal year, leading to the U.S. government shutting down.

•  The Federal Reserve lowered its benchmark interest rate by 25 basis points to a target range of 3.75%-4%. Two dissents to the decision were noted, with one official preferring a 50 basis point cut and the other preferring no cut.

•  The Fed also announced it would end balance sheet runoff on December 1, reinvesting any proceeds from maturing Treasurys and mortgage-backed securities into Treasury bills.

•  The September Employment Situation Report, in addition to most official economic data, was not released due to the ongoing government shutdown.

•  September CPI came in at 0.3% m/m and 3.0% y/y, the highest annual rate since January.

•  In one of its most volatile months ever, gold rose 14.3% to $4,381 on October 20 and then proceeded to decline 11.3% to $3,886 on October 28, before ending the month up 3.7%.

Equities

•  With over 65% of the S&P 500 having reported results, the earnings surprise rate stands at 8.6%, in-line with the five-year average.

•  The Information Technology sector beat the broader market by 3.9 percentage points, its sixth month of outperformance in the last seven.

•  Emerging market stocks rose 4.2% despite dollar appreciation, powered by strong tech sector gains from Taiwan and South Korea.

•  Cyclical stocks underperformed defensives by 2.1 percentage points through October 22, before then outperforming by 4.3 percentage points and finishing the month ahead, the sixth consecutive such month.

Fixed Income

•  Though High Yield corporate bond spreads ended the month at 267 basis points (exactly where they began the month), they briefly widened to 304 basis points on October 10 after President Trump’s 100% tariff threat on China.

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Performance data quoted represents past performance. Past performance does not guarantee future results. Market returns will fluctuate, and current performance may be lower or higher than the standardized performance data quoted.

Communication of SoFi Wealth LLC an SEC Registered Investment Adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Mario Ismailanji is a Registered Representative of SoFi Securities and Investment Advisor Representative of SoFi Wealth. Form ADV 2A is available at www.sofi.com/legal/adv.