If you want insurance protection only, and not a savings and investment product, buy a term life insurance policy.
If you want to buy a whole life, universal life, or other cash value policy, plan to hold it for at least 15 years. Canceling these policies after only a few years can more than double your life insurance costs.
Check the National Association of Insurance Commissioners website (www.naic.org/servlet/cis.Main) or your local library for information on the financial soundness of insurance companies.
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If you want insurance protection only, and not a savings and investment product, buy a term life insurance policy.
If you want to buy a whole life, universal life, or other cash value policy, plan to hold it for at least 15 years. Canceling these policies after only a few years can more than double your life insurance costs.
Check the National Association of Insurance Commissioners website (www.naic.org/servlet/cis.Main) or your local library for information on the financial soundness of insurance companies.