#3:. What kind do I need?
Sutton suggests first addressing your loved ones’ current requirements. The majority of your life insurance should probably be short term, to provide for your survivors’ known needs.
Permanent insurance can take care of long-term needs but is less of a priority. A life insurance professional can help you determine the blend.
#4:. Why do I need other life insurance when I already have it through my employer?
Employer plans can be a great benefit, but they have disadvantages. First, you don’t own your employer’s plan, so it can disappear if you lose your job.
Group life insurance, including Service members Group Life Insurance (SGLI), can be nice, but you should consider it an addition to the plan you own and control.
Don’t be reliant on it because it could go away. Also, getting your own insurance now — when you’re as young and healthy as you’ll ever be — can lock in good rates you’ll not likely see again.