How long you should have life insurance depends on the purpose you want your coverage to serve.
If you want life insurance to pay for you funeral or memorial service expenses, then you really need to have a permanent policy. How awful it would be to pay into life insurance to age 80 and then have the policy end.
If you have life insurance to pay for expenses that will cease to exist after a period of years, then you can get life insurance coverage that lasts that number of years. A great example of this is 30 year Term Life Insurance to cover a 30 year mortgage.
If you want life insurance to provide income during retirement, you could buy Indexed Universal Life that you pay into until retirement age, then draw on without paying any more premiums the rest of your life.
Many people purchase different lengths of policies to accomplish different needs. If that is too much for your budget, just buy what you can afford. Something is always better than nothing.
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If you want life insurance to pay for you funeral or memorial service expenses, then you really need to have a permanent policy. How awful it would be to pay into life insurance to age 80 and then have the policy end.
If you have life insurance to pay for expenses that will cease to exist after a period of years, then you can get life insurance coverage that lasts that number of years. A great example of this is 30 year Term Life Insurance to cover a 30 year mortgage.
If you want life insurance to provide income during retirement, you could buy Indexed Universal Life that you pay into until retirement age, then draw on without paying any more premiums the rest of your life.
Many people purchase different lengths of policies to accomplish different needs. If that is too much for your budget, just buy what you can afford. Something is always better than nothing.