I have done a lot of research and the majority of the research tells me to get term life insurance, but I am still confused as to why.
I am 30 years old, married, and have a baby. I'm a non-smoker, and overall healthy except for some arthritis.
If you have a child you may want to consider a 25 or 30 year term life insurance policy so you have protection until your child is grown and on his own.
Term life insurance is the cheapest type of life insurance and level term provides you with premiums that remain the same each year while the amount of life insurance stays level throughout the policy period of the 25 or year term.
That way, you can get the highest amount of life insurance available to you based on your age, and health, in order to provide the most financial security for your baby.
Another option is permanent life insurance which provides lifetime coverage, but costs a lot more than term life insurance.
Here's how you can compare term life insurance vs permanent life insurance and review the pros and cons of each before you choose a plan.