This article on the Money Geek website provides some guidelines on “basic” life insurance policies, which are free or low-cost group term life insurance policies available through one’s employer benefits. It also offers some “expert commentary” on the types of life insurance and who needs life insurance, including a section by Renee Sewall, financial adviser for PFS. Renee provides guidance on the pros and cons of obtaining term versus whole life insurance and why those with dependents should consider obtaining life insurance to protect against unexpected loss of income.
Check out the article, and as always, let us know if you have questions about how this pertains to you and your specific financial situation.
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