What Kind of Life Insurance Should I Get?
Most people only need life insurance to cover them during a specific period, such as while they are paying off a mortgage. In this case, term life insurance is typically sufficient and much more affordable than whole life insurance. However, some families prefer a policy that builds cash value and provides extra benefits like critical illness coverage.
There are a few types of life insurance products available to choose from:
Term Life
Term life insurance protects your family for a specific period of time, typically between five and 30 years. If you die during the term, your beneficiaries receive the full death benefit. However, if the term expires before you die, you won’t get a payout from the policy.
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