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Article: How Long Should Your Term Life Insurance Policy Be?

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Vanessa Wilson

Vanessa Wilson

Writer
A friend's daughter was here the other day visiting and she asked me how much life insurance she should buy. She's young and single, so I laughed and told her $0. She doesn't have anyone depending on her income or assets, so there's no point in her paying for it. I told her to wait until she's married and if things really are that much of a concern to her, then set aside money in a will to cover funeral expenses.
 
Life insurance and disability insurance are two insurances many people need, but it seems they are the most neglected. Its a shame. Thanks for the article. At least life insurance is very cheap these days, and most people can afford some if they take the time to shop prices.
 
Often times you can get a whole life policy through your employer pretty cheap. The insurance companies offer this as sort of a teaser to get you to buy more above the standard amount offered by the employer. Term life is much cheaper and more of a bargain but you should also consider a whole life policy to go with it. The reason is you can have that policy your entire life. Term life, once the term is over you might have health problems which make it harder to find another policy.
 
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