Term life insurance is often Less expensive than other types of insurance, especially when the insurance is purchased while the policyholder is younger in age. Because of its affordability, it can be a good choice for short-range goals, such as until your youngest child finishes college, while you pay off a loan, extra insurance protection during child-raising years or until you are able to afford a more permanent type of life insurance. The cost and availability of the type of life insurance that is appropriate for you depend on factors such as age, health, and the type and amount of insurance you need.
“Life insurance is the only tool that costs pennies and guarantees dollars,” said the legendary industry salesman Ben Feldman. This powerful leveraging factor along with permanent life insurance’s ability to allow someone to accumulate funds tax-free are two reasons why properly structured insurance can be a powerful financial planning tool. Cash value inside a permanent [...]