Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Which is the best life insurance to buy? The answer depends entirely on your situation and need. If your need is short term, say 10 to 20 years, then term life may be the best choice to make. On the other hand if you're looking to insure for a lifetime (20+) term is really a poor choice as the costs rise to a point where maintaining the policy becomes too difficult. Whole life is a better choice if that is your goal.
There are many types of life insurance available in the market place today. There is annual renewable and guaranteed level term life insurance. Permanent life insurance has two actuarial policy platforms: participating whole life insurance and current assumption universal life. Universal life has three basic crediting methods: interest rate, index and separate equity/bond sub account performance.
When considering the purchase of life insurance, you should explore life insurance spreadsheets from the brokerage community are an excellent starting place to explore the life insurance company that best suits your financial profile, risk tolerance and economic goals. The spreadsheets are divided into two macro categories: Term Life Insurance and Permanent Life Insurance.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The best and cheapest life insurance is the policy that is in force the day that you die. It is extremely rare that you would ever pay more for a policy than the death benefit. Regardless of its price the one that expires prior to your death hasn’t any benefit and so its cost is quite high. The best life insurance to buy is one that will meet all of your obligations, fulfill all your dreams and provide a comfortable transition to those that you love when you pass away.
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When considering the purchase of life insurance, you should explore life insurance spreadsheets from the brokerage community are an excellent starting place to explore the life insurance company that best suits your financial profile, risk tolerance and economic goals. The spreadsheets are divided into two macro categories: Term Life Insurance and Permanent Life Insurance.