*Determine how long you want your life insurance coverage to be in effect - for instance, from now until your children finish college, or throughout your life.
*Buy a term (fixed-length) contract with an increasing premium (annually renewable term, or ART) if that length of time is less than four years.
*Buy a term contract with a level premium if you need coverage for a longer time (5, 10, 15 or 20 years).
*Buy a permanent (lifelong) contract if you wish to provide a death benefit for your beneficiary no matter how long you live.
Thursday, July 10, 2008
Step to Determine the Type of Life Insurance
