How to Know What Type of Life Insurance to Buy

A question I get quite often when I'm sitting and talking about life insurance is, what kind of life insurance should I get? You know, it depends. Depends how old you are. Depends on your budget. Depends on your health. Depends on the dependents, you know, the type, the finances, your bills, your expenses, your debts.

So we go out to find the best product that's available and that's going to give you the best value. So just a little commercial. But as far as what's the best obviously if you're younger. The cost is less and let's say you started a family term insurance is going to be the least expensive.

It's going to give you the most coverage but it's always good to have a base of permanent insurance because that term insurance is just that, it lasts for a term. And at that end of 20 years, 20 years is probably the most common. I have some folks that will get a 30, you know, the coverage goes away.

Permanent insurance, maybe after that 20 years, 30 years, you've built up some equity in that. And now the equity in that policy. Pays for the premium so you have it for your whole life. So those are kind of the primary differences. And you may have heard the term universal life is another type of permanent insurance.

But those would be products based on your need and then based on your. Budget that we would put together a plan that would fit best for you. And I, I like to use life as a kind of an acronym it's loans, income final expenses and education. You know, those would be the four biggies where you'd have the.

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