Before you take the plunge to buy life insurance, a little research can go a long way. If you know virtually nothing about life insurance you do want to have a basic knowledge so when you talk to brokers you will understand what they are offering. Of course Term life insurance maybe the cheapest route for most people it may not be what you are looking for. There are more options and some will cost you more monthly so shop around for your best deal.
Check out this article at SmartMoney.com for some insight to life insurance.
Which Life Insurance Is Best?
Life insurance comes in three flavors. Term insurance offers plain-vanilla protection at a low cost. Then there's whole life, which has a savings component. A third type, the return of premium, is essentially a hybrid of the first two. Continued here…
In addition to finding the most affordable policy think about the payout as a death benefit. Will they pay the beneficiaries on a timely basis or will they drag it out? What if you do not die before your term period is over, do you get paid back in full what you paid in?