What should be the length of my term life insurance?
Term life insurance is the best option for temporary needs. Depending on your budget and the amount of support you wish to provide for your loved ones, you can determine the length of your term insurance policy.
A helpful indicator for selecting the length of your term life policy is to review the reaming years of any mortgage debt on your home. You may also want to discuss the following with your family and financial advisor;
How many years would it be before my children are self-supporting?
Is my spouse financially dependent on me?
Will my spouse’s retirement be impacted if I were to die before I retire?
Do aging parents need my help?
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