Life Insurance is "LOVE INSURANCE"

Life Insurance is LOVE INSURANCE. It's bread and butter and self-respect. Life insurance pays a lump-sum, 100% income tax-free so that the people you are responsible for can maintain the quality of life you want them to have.

For most widows and widowers, their #1 desire is to be 100% debt free. No mortgage, car payments, school or business loans, credit cards, etc. In addition, many insureds want to protect their income so their loved ones can continue living with the same or better quality of life they have always had. 

TERM Life Insurance, is the most affordable type of protection and only costs about 1-2% of your income for a really decent policy on average

PERMANENT Cash Value Life Insurance, such as Whole Life, Universal LIfe, or Indexed Universal Life requires more premium up front, but has more to offer with a long-term death benefit and a cash value equity which can be tapped in the future, to lower or eliminate premiums or have tax-free money for emergencies or opportunities or supplementing your retirement. 

TERM Life usually makes the most sense if you're on a tight budget, and have a need for a particularly high amount of protection, or if your need is purely temporary like paying off a mortgage or other loans,  The coverage only lasts a specific amount of time, such as 10, 15, 20, or 30 years. 

PERMANENT Cash Value Insurance makes more sense if you have more disposable income and you like the peace-of-mind your protection will be permanent and never run out. It's also great for building up an equity or cash value that can be used in the future for numerous things such as emergencies or opportunities, covering premiums in lean times, or supplementing your retirement with tax-free income. 

Simply put, "group" coverage through your employer is usually NEVER ENOUGH - not even close. It's generally basic cookie cutter coverage and better than a "poke in the eye," from far from ideal. For starters, it's NOT YOURS. It doesn't belong to you. You don't OWN it, your employer does. They can decide to reduce or change benefits or ditch the whole plan anytime they want. What if you leave or lose your job and you're medically unisurable? What then? Your loved ones are out of luck - that's what. Having group life insurance is like having a company car - never have that be your ONLY car. Have your OWN car also. It just makes sense!