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                          Which type of insurance is right for me?

This question is challenging for an individual when researching life insurance, and few have escaped the
debate. Purchasing the wrong type of insurance can be damaging to your financial future. The first thing
that you should do when shopping for life insurance is speak with a licensed professional that can help
you determine the appropriate type and amount of insurance
Our professionals can help you answer the question: buy term, buy permanent, or buy a combination of
both.

You should consider purchasing Term Life Insurance if:

�You need life insurance for a specific amount of time. Term life insurance enables you to match
the length of term to the length of the need. For example, if you have young children and want to
ensure funds to pay for their college education, you might buy a 20-year term. Term Life
Insurance is also purchased to repay a debt such as a mortgage. Since the typical mortgage is 30
years, you might purchase a 30-year term.
�You need a large amount of life insurance but have a limited budget.

You should consider permanent insurance if:
�You need life insurance for as long as you live. A permanent policy pays a death benefit whether
you die tomorrow or live to 100.
�You want to accumulate savings that will grow on a tax-deferred basis and could be a source of
funds for a purpose of your choosing.

Keep in mind that premiums for permanent polices are generally higher than for Term Insurance.
However, the premium in a permanent policy remains the same no matter how old you are, while term
can go up substantially every time you renew.

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