Agent, Rural Mutual Insurance Co., Union Grove, WI
There are two basic kinds of life insurance: term insurance and cash value insurance. Term insurance generally has lower premiums in the early years, but does not buildup cash values that you can us in the future. You may combine cash value life insurance with term insurance for the period of your greatest need for life insruance to replace income.
As far as for how much to get. That is going to depend on many factors. Too many to list here. I would recommend contacting a local agent to have them help educate you on the types of policies available and what might best fit your needs and concerns
Life insurance is basically a monetary stand in when you pass away. It can be as simple as having money for your family to help pay the bills with you gone or something complex as a part of an estate plan. The two basic types of life insurance is temporary (term insurance) or permanent insurance (whole life, universal). Which one applies to you is something one should talk with a licensed insurance agent. Every person has different needs at different stages of their life. Life insurance should be tailored and reviewed at intervals to meet these needs. The best persons to answer how much life insurance you need is you and your agent.
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As far as for how much to get. That is going to depend on many factors. Too many to list here. I would recommend contacting a local agent to have them help educate you on the types of policies available and what might best fit your needs and concerns