Well, before making your purchase you may want to consider the following:
- Do you need life insurance for a period of thirty years or less?
- Do you need the maximum amount of life insurance for your budget?
Now, should you own your policy that insures your life, or are you married and would you rather your spouse be owner of the policy?
Keep in mind, if someone else owns the life insurance policy on your life, that person retains the right to change the beneficiary of your policy and make any changes to your coverage.
Here's how you can learn who should own a term life insurance policy and what is important to consider when choosing the owner of life insurance.