No one likes to think about life insurance and certainly no one likes to pay the monthly premiums but for most adults in Colorado, life insurance is a responsible necessity.
Finding the policy thats both right for you and your family and thats affordable is the real trick.
To start with you need to understand the difference between whole life insurance and term life insurance.
Whole life insurance lasts as long as you pay your monthly premiums, no matter how long you live, and the premium rate in effect at the time you sign up for the policy is the premium you pay until your death.
Term life insurance is good for a specified number of years and then you must buy a new policy at a higher age-based premium.
The premium on whole life insurance is almost always higher than the premium you will pay for a term life policy. The advantage to the whole life insurance is that the premium will not increase as you get older, while term premiums increase at the end of each policy term.
Another advantage to whole life insurance is that generally a portion of your monthly premium goes into a built-in savings account. Over time this cash value aspect...
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