My husband and I are 28 years old, have three children and plan to have one more child in the near future.
We live in Virginia (DC area). His annual earnings are about $70,000 and I also work part time earning annually about $35,000.
Deciding the right type of life insurance depends on your needs. If you want lifetime coverage, then a permanent life insurance policy may be a good idea.
If you need the most life insurance protection at the lowest cost to protect your family until your children are grown, then a 30 year level term life insurance policy for both you and your husband may be a good idea.
Term life costs a lot less than permanent life insurance which means you can afford to buy a lot more life insurance protection for your money.
As for choosing a good company, make sure you compare rates from several highly-rated insurers, and find out which company offers the most coverage at the lowest price, and has the highest financial strength rating.
The financial rating of an insurer is an indication of that insurer's ability to meet their financial obligations, and pay their claims.
Here's how you can learn more about how term life insurance coverage works and request term life quote comparisons.