There is no one best life insurance policy for everyone. Some types of insurance work better than others for certain needs. The premiums for some types of life insurance are prohibitive, or that type of coverage may be unavailable, at certain ages or with certain risk factors.
Life insurance is personal coverage, and if you would find the best policy for you, you must consult with an agent who will take your personal details, then work hard to find the best policy for YOU.
Life Insurance is about covering or meeting a need and each type of Life Insurance policy addresses that need a little differently. If you have a loan for example, you might have a term insurance which will cover the term of the loan. If you have kids at home, you might also consider a term policy which would help support the surviving spouse as well as provide funds for college education. A permanent policy might be a great way to cover those final expenses. Since you do not know when you will die, a permanent policy is designed to be there if that happens to be today or at age 100.
There are also variable to consider. Did you know that you can get a term policy that pays all your premium you paid back at the end of the term? Or a term policy that pays you a % of the death benefit if you have a Critical Illness (first diagnosis) or Chronic Illness need? The same is available with Permanent policies as well. Your agent should be aware of these options.
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Life insurance is personal coverage, and if you would find the best policy for you, you must consult with an agent who will take your personal details, then work hard to find the best policy for YOU.
There are also variable to consider. Did you know that you can get a term policy that pays all your premium you paid back at the end of the term? Or a term policy that pays you a % of the death benefit if you have a Critical Illness (first diagnosis) or Chronic Illness need? The same is available with Permanent policies as well. Your agent should be aware of these options.