Why to chose term life insurance?
George is correct that term insurance gives you more bang for the buck. There are cautions though. Term only lasts to age 70 (I believe). People who took term insurance to protect their spouses instead of leaving them part of their pensions found this out too late and at age 70 the spouse was no longer protected and wouldn’t get a survivor’s benefit when their partner died. That’s what the term insurance was to be for. The reason the wage earner did this was to collect 100% of their pension. To leave survivor benefits to a wife or husband they would have to give up so much a month. I’ve seen some very sad cases where that happened. If you are young with children you will want the most insurance you can get at the lowest cost. So there are reasons pro and con for both full life and term insurance.
