News 455 Term Life Insurance Right Option Young Working Families News Observer

So you're in your 30s, have a young family and a good job. You don't really need to think about life insurance do you? Sure you do. Should something happened to you, unexpected as it may be, will you family be able to survive financially without you? Will your spouse be able to pay off your debt, pay for your mortgage and living expenses and pay for your children's education? Do you really want to find out the hard way? Purchasing a 15-20 year level term life insurance policy should cover the essentials in case of an emergency. Level term policies account for future medical underwriting, the premiums generally stay the same and are usually cheaper than whole life insurance. You can choose whichever policy you feel best meets your family's future financial needs, fits your budget and makes you comfortable. No matter whether you select term life or whole life insurance, you should choose a life insurer that is reputable, you want them to still be in business in 20 years when you need them.

Read more: Term life insurance costs less than whole (The News & Observer) Q: We are in our early 30s, and my wife stays at home with our 4-year-old twins. I work for a company that provides life insurance worth twice my annual salary, which gives me about a $150,000 death benefit.