The biggest question to answer when purchasing life insurance is whether you need a term or permanent policy. Each type has advantages and limitations. To make the right decision, you should know and understand your options.
Here are a few questions to consider:
- How will the money from this policy be used?
- Do my life insurance needs span my entire life or a specific period of time?
- Do I want to accumulate cash value or just have death benefit coverage?
- How much life insurance do I really need and what is my budget?
Keep in mind that you can use a blend of products to meet distinct life insurance needs.