Life insurance is something that is vital for every adult, and some children. Life insurance provides a death benefit when one is needed most, when someone has died. There are multiple types of life insurance including term, universal life and whole life. Within those broad categories there are certain subsets like annual renewable term insurance, variable universal life insurance, indexed universal life insurance, blended whole life insurance etc. I try to help people understand how much and what kind they might need to research.
I have discussed why I like whole life insurance policies in the past, and why I have bought policies on myself, my son, my daughter and The Wife. I am well aware this isn't a particularly popular position to take on interwebs as buy term and invest the difference is the common mantra. However, with a national average of 5% odds say that those that are claiming that is their plan aren't following through. Nonetheless, this past week I converted a tiny piece of The Wife's policy which led to some interesting items I thought I would share. Why Did I Convert a tiny portion [...]