Should term insurance or cash value life insurance be purchased?

This depends on your personal circumstances. First, recognize that in any life insurance purchasing decision, two questions must be answered: “How much life insurance should I buy?” “What type of life insurance policy should I buy?” The first question should always be initially resolved. For example, the amount of life insurance that you need may [...]

What about purchasing life insurance for a spouse or children?

In certain circumstances, it is advisable to purchase life insurance for children. However, generally such purchases should not be made in lieu of purchasing appropriate amounts of life insurance on the family breadwinner(s). It is of utmost importance that the income-earning capacity of the primary breadwinner be fully protected, if possible, through the purchase of [...]

How much life insurance should an individual own?

“Rule of thumb” suggests an amount of life insurance equal to 6 to 8 times annual earnings. However, many factors should be taken into account when determining the right amount of life insurance for you and your family. Important factors include: Income sources and amounts other than salary earnings Whether or not you are married [...]

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