Once it has been established that there is a need for Life insurance, most people struggle with 2 questions :-
#1 : What Type ( Term or Permanent ) ?
#2 : How much?
We will attempt to answer #1 in this article .
It would all boil down to 2 factors :-
1> How much you can afford
2> How much of you Life insurance needs are temporary in nature?
Factor #1 can be easily arrived at by analysing your monthly income and expeditures.
Factor #2 can be determined by the following questions :-
Do you have an outstanding mortgage and other loans that are temporary in nature ( Expected to be paid off in a few years?)
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Thanks for sharing and making it clear between the two types of insurance. I will check back often for more great info.
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