Aug 1

How much do you know about options in life insurance? If you’re like most people, you may not even know the basics. All too frequently people who need coverage simply find a company that assesses their situation and tells them what they need. This can be very helpful if you find a reputable company that will really look at your financial present and financial future and make decisions based on what’s best for you, but all too often these companies actually make a commission from various life insurance companies. This means that they’ll recommend a certain type of coverage or a specific company not because it’s best for you – but because it’s best for them.

That’s why it’s so essential you know what your life insurance options are. The two basic types of are whole life, which means it covers you for the rest of your life, regardless of your health or age at the time of your death, and term life. Term life is good for a specific term, usually ranging from 5 years to 30 years. Lately more and more companies have been doing away with their 30 year coverage and have been capping their coverage options at 25 years.

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