If you have a temporary need, Term Life Insurance may be best.
If you want life insurance to cover your final expenses associated with funeral, Permanent Life is usually best.
If you want to use Life Insurance for business purposes, you can use Term to cover key employees, or you can use Permanent to create a business succession plan with liquidity, or many other options for many other business purposes.
If you have a serious health problem, your choices will be limited. If you can get one that is not graded, that will be best for you. If not, then the best one is the one you can get.
Determining product suitability is a process that includes risk assessment, financial goals and establishing a timeline based on life expectancy. Once this discovery process determines the potential policy owners needs and financial profile then you can purchase life insurance based on you needs and product suitability.
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If you want life insurance to cover your final expenses associated with funeral, Permanent Life is usually best.
If you want to use Life Insurance for business purposes, you can use Term to cover key employees, or you can use Permanent to create a business succession plan with liquidity, or many other options for many other business purposes.
If you have a serious health problem, your choices will be limited. If you can get one that is not graded, that will be best for you. If not, then the best one is the one you can get.