A. Many consumers find this question very hard to answer, because there are many different products and many questions need be answered -
- Should it be term insurance or permanent life insurance?
- If permanent, should it be whole life or universal life?
- If universal life, should the engine be fixed, indexed, or variable?
- If fixed, should it have current assumptions or guarantees?
If you are looking for a straight answer, you might be disappointed, because it doesn't exist.
However, have you ever wondered maybe it's actually a wrong question? Just imagine, if you have $1,000,000 to invest, would you be asking; which one investment should I select?
- Should it be stocks or bonds?
- If stocks, should they be
- domestic or international?
- growth or value?
- large, mid, or small cap?
Shouldn't it be the same answer for life insurance? A combination of:
- whole life
- universal life,