The best kind of life insurance is the one that best suits your needs and budget. There is a reason that there are different types of life insurance. It is because some are best suited for final expense (Whole Life), some for retirement income (IUL or VUL), some for temporary needs such as raising children (Term), some for business or estate planning (depends). In order to get the best life insurance for you, it is helpful to visit with a knowledgeable agent who carries lots of choices.
The best kind of life insurance is the life insurance policy that accomplishes your goal at the best possible rate. There are two basic types of life insurance.
The first is cash value life insurance which can insure you your whole life, provide funds for children's college, provide tax free retirement or provide funds for a critical illness.
The second type of life insurance is term life. Term life insurance can create an instant estate, pay off a large debt such as a mortgage or student loan, provide a business funds in case of a death of a key employee and is the most affordable type of life insurance.
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The first is cash value life insurance which can insure you your whole life, provide funds for children's college, provide tax free retirement or provide funds for a critical illness.
The second type of life insurance is term life. Term life insurance can create an instant estate, pay off a large debt such as a mortgage or student loan, provide a business funds in case of a death of a key employee and is the most affordable type of life insurance.