What are your short term and long terms needs when it comes to protecting your family? And the word family can mean different things to different people so I use this term lightly. Protecting your family with life insurance can meet the financial part of these needs. Short term needs are debt payoff and children's college fund. Long term needs are funeral costs, income replacement and end of life medical expenses.
In your life insurance portfolio you should have a combination of term and whole life insurance. Term life is to meet the short terms needs on a 10, 20 and 30 year basis. Whole life will be for your entire life and will be there to help whenever you need it. It is also great because it builds a cash value with a guaranteed interest rate of return. It is nice to know that you are putting money way that will both protect your family and build something for yourself that you can actually use in your life time.
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