We are looking into new life insurance. My husband is 46 and I am 43. What are the best options for us?
Answers | 9
Term insurance is great for protecting the majority of your needs for cost purposes, and permanent can be used for final expenses and/or future estate transfers if those are your goals. The cash value can also be used in the long run if need be.
Start by adding up your liabilities, asking yourself how much income would you each want to provide the other spouse and then determine a budget.
Hope that helps!