Life insurance can be complicated. It comes in various types, lengths and amounts. Some have a cash value, some don’t. Some are only good for a certain amount of time while others remain in place until you die. Some pay you interest on your money, some don’t. The options can make buying life insurance confusing, but with some good advice, it doesn’t have to be.
The first thing to figure out is if you even need life insurance. To answer that, ask yourself the following: Do you have any dependents? Does another person depend on your income to pay the bills? Do you have any debt? If you have children, would you want to help pay for their education, clothes, food, etc in the event of your death? Would you want a spouse to have to work if you die? If you answer yes to any of these questions, you need life insurance. The next question becomes, how much?
However, some people are in a stage of their life where life insurance isn’t as important. One example would be a single person with no dependents. Or an older couple with grown children and enough saved to not outlive their money and pay for final expenses.
I can help you with any life insurance questions you might have.