Start by determining if you need a term, whole or universal policy. Then, calculate how much life insurance you need. Predict what your beneficiaries’ needs would be in the event of your death by using Grey House Publishing’s helpful tool.

However, consider this: The American Institute of CPAs warns that it is important to understand that comparing policies can be difficult because of differences in how the policy is calculated.

After reading that, you may not want to go it alone and that’s understandable. Find a qualified estate planner on the National Association of Personal Financial Advisors’ homepage.

But, if you’re game, select prospective insurers, get your quotes and start comparing offers. In its article, "Comparing Life Insurance Policies," the American Institute of CPAs encourages consumers to compare companies, not policies and suggest asking the following questions:

• Do policy premiums or benefits vary from year to year? If so, what part of the premiums or benefits is guaranteed and what part is not?
• For a cash value policy, what are the company's projections of future cash value? How do those projections stack up against other cash value policies? Are the assumptions in those projections realistic?
• Can you access the cash value through a withdrawal or loan? What restrictions apply? What is the loan interest rate?
• If applicable, is there a guaranteed minimum interest credited on cash values? (Keep in mind that guarantees are subject to the claims-paying ability of the issuing insurance company.)
• What charges and fees are associated with the policy? For example, what surrender charge will you pay if you give up a policy and take out the cash value?
• Can you customize the policy to your needs with options or riders and at what additional cost? For example, how much extra will you pay for a "waiver of premium in the event of disability or accidental death benefit" rider?