My husband is 45 and healthy and I am 29 and healthy. Neither of us drink or smoke.
We are looking into permanent life insurance.
He has left it up to me to find life insurance coverage for both of us.
Well, first consider what your goal is for your life insurance - what do you want your life insurance policy to accomplish?
Then, consider which type of life insurance will accomplish your goal.
Think about how long you need life insurance, what your budget is, and how much life insurance both of you need.
Term life can give you the most life insurance for up to 30 years, while permanent life insurance costs a lot more, but provides lifetime coverage.
If you only need life insurance to pay for your burial costs, then you should have that much money saved up by the time you are older.
If you need life insurance to help pay off the home mortgage and raise any children you have, then you may want term life insurance for a term of 30 years or less.
Here is an article on term life insurance versus permanent life insurance which explains the benefits and drawbacks of both types of life insurance, to help you better understand your options before choosing a policy.
We are looking into permanent life insurance.
He has left it up to me to find life insurance coverage for both of us.
Well, first consider what your goal is for your life insurance - what do you want your life insurance policy to accomplish?
Then, consider which type of life insurance will accomplish your goal.
Think about how long you need life insurance, what your budget is, and how much life insurance both of you need.
Term life can give you the most life insurance for up to 30 years, while permanent life insurance costs a lot more, but provides lifetime coverage.
If you only need life insurance to pay for your burial costs, then you should have that much money saved up by the time you are older.
If you need life insurance to help pay off the home mortgage and raise any children you have, then you may want term life insurance for a term of 30 years or less.
Here is an article on term life insurance versus permanent life insurance which explains the benefits and drawbacks of both types of life insurance, to help you better understand your options before choosing a policy.
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