Hello,

I'm thirty years old.  I have been brooding about buying a life insurance and when I started doing the research, I am faced with the quandary of choosing between Term life vs full life.  
Here are my thoughts on this
a ) I understand that life assurance is not like retirement plan so I am going to save enough for my retirement so myself and my dependants can live happily after I retire.  At this point, myself and my better half both work so we are hoping to save enough for retirement.  Having said this, I suspect I might go for a term life assurance for thirty years from now just in case something unexpected happens to me between now and sixty years of age.  Beyond sixty years, if something were to occur, our retirement funds, hopefully, can help us.  
I understand if nothing happens to me from now till 60 years, I wont get anything from the insurance ( I would like to confirm if this is the same with all corporations who offer term life assurance ) ?  

b ) The other thought is whole life is I'm utterly covered until the end of my life.  Of course, the premium would be higher and fixed.  There is also some savings component to it which I believe I will be able to get when I withdraw the policy.  

c ) Or, should I go for Term life insurance now but then change to whole life at some particular point between now and 60 years of age ?  

Any counsel is appreciated.  
answer With Quote

update : This company had some truly great advice when I spoke them and highly advocate it USA TermLife Experts
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