What Is Better Term Or Permanent Life Insurance?
12689 POINTSview profileTed RatliffOwner, SFS Associates,It depends on the reason for the insurance. A permanent need should be covered if at all possible by a permanent policy. Final Expenses is an example. Temporary needs can be addressed with term insurance. Mortgage, or debts would be an example. A good experienced agent can help you put together a plan that is right for you.Answered on May 12, 2013flag this answer
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaRemember that life insurance is purchased to cover life's liabilities. If those liabilities are not ongoing, then term should be considered. If the liabilities are perpetual, then a permanent policy is necessary. A few variables to consider here: If you're under age 50 then you should be able to obtain term life insurance coverage up to 30 years. Keep in mind that you should purchase a term life insurance policy that allows you to convert to permanent if life's expectations change. If you're older than 50 and your obligations are greater than 20 years you may have to purchase a permanent life insurance policy. Age and length of coverage play an important role in the decision making process on purchasing term or permanent life insurance.Answered on May 12, 2013+01+1 this answer
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