[USER]

Hi there. I have a quewrjin regarding life insurance. I’m 28 and my husband is 32.

We have a toddler. I’m wondering what kind of life insurance is best for us? We’re good savers. Bit just in case something happens, we are covered.

We both work and earn about the same amount. Thanks!

[Katie]

It depends on what you need. Something to cover the next few decades while your child is young? Then term.

Something that will cover you the rest of your life and the benefits go to your surviving spouse or child?

Then permanent insurance. But I do agree, make sure it has living benefits.

[Delton]

Get term life. Use a broker. Not all terms are the same. Also consider that terms should be not just for the primary breadwinner, but for the children’s caretaker as well.

If something happened to the one caring for the children, you’d need to hire help, use daycare, etc, so don’t just insure half the family.

Disclaimer, I’m a broker, and sell term.

[Nicole]

I used PolicyGenius and got a 30yr term thriugh Banner Life.

[Kathleen]

Term life insurance. Either 20 or 30 year term. Avoid whole life insurance.

You can easily get term life insurance quotes online.

[Tom]

Shop around for term life to cover your concerns.
We did not have kids, but built a house. We got a 10 year term life insurance more than enough to cover our 25 year mortgage.

Paid off the home in 4.5 years.

At the end of 10 years we were stable enough to call ourselves self insured.

[Sanchali]

Since you guys are so young get a term life insurance for 30 yrs – more if available.

Make sure that it has living benefits.

[Author]

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