Life insurance protects your family if you should die. The best buy for most people is term life insurance.
Term life insurance is usually issued for 1, 5, 10 or 20 years and remains in effect for that period of time as long as you pay the premiums. You have to reapply for the insurance at the end of the specified time period. Premium costs increase as you get older.
You can buy a term life insurance policy in the dollar amount of your choice.
Check with your employer. You may be able to get term life insurance from a group plan. It may be less expensive, especially if you have a health problem.
By: Brenda Langdon
