When to use Term Life insurance in your investment portfolio

Term life insurance is a must in any financial portfolio. Don’t mix up Whole life insurance with term life insurance; they are two separate and different types of life insurance policies. Whole life has its benefits but not as an investment.

Insurance should be used to protect your family from the loss of your income for a 10-year period after your death.  Therefore you should have term life insurance that covers your annual salary times 10. 

Term life insurance is cheaper than whole life insurance.  Use Term Life insurance to protect your future income, your family’s stability, and any large debt such as a mortgage or loan.