Life insurance is an important, yet often overlooked, household financial need. It not only protects your family, it also protects your income today and down the line.
Make no mistake, not having a good life insurance policy puts a household on the fast path to financial ruin when a breadwinner dies. Data from BestLifeRates.org show that one in three U.S. households say a financial disaster would be more likely, if not certain, within 30 days of a breadwinner’s death.
While the need for life insurance is apparent, the process for making the right policy choice is not. In general, when looking for a good individual life insurance policy, it boils down to two main options – whole life insurance and term life insurance.