Life insurance is an important part of financial planning. The main purpose of purchasing life insurance is to ensure that your children/dependents are financially protected in the event of death. Life insurance is a way to plan for the future so you need to be sure that the coverage you purchase fits your needs.
There are many options available to you when purchasing life insurance. Some policies provide coverage for your lifetime and others provide coverage for a specific number of years. With certain policies, you are able to combine different kinds of insurance and even build up your cash value.