Unlike car insurance and health insurance, there is no legal requirement to buy a life insurance policy. And given that you have a lot of other things to spend your money on, you’re probably in no hurry to rush out there and commit to monthly life insuran
Debt is on the rise, and life insurance coverage is down.
During the first several years your whole life (also called permanent life) insurance policy is in effect, your premiums are going to be significantly higher than they would be for a term life insurance policy.
The principal types of life insurance are term life insurance and whole life/permanent life insurance.