Whole life insurance is a product owned by people who desire to have a death benefit paid to the beneficiary of the life insurance policy. Not only if death occurs before a mortgage is paid off, or only if you die before your children graduate from college. People who own whole life insurance want to make sure their heirs receive money in the event of their death, no matter when that occurs. It is a conservative way to own life insurance, but in our opinion it is one of the best ways to own coverage.
Many people miss the boat when purchasing coverage, and think about responsibilities. Ask yourself one simple question, "How much money do I want my wife/husband to have in the event I die? How much money do i want my son/daughter to have when i die?" Questions like that put a whole different spin on life insurance don't they, buying term insurance for the next 20-30 years doesn't seem to cut it anymore does it?
