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When you are trying to set up your financial future, one of the considerations most people aren’t too excited about is buying life insurance. Sure, you know it’s important and you know you need it, but what type of life insurance should you have?

Well, if you talk to most insurance agents, they will recommend a whole life policy-a policy with a higher monthly premium that gains cash value over the life of the policy.

On the other hand, the majority of non-insurance agents will tell you to go with term life insurance-the one with the much lower monthly payment that only pays out when the policy holder dies.

I am in the camp of those recommending term life insurance, and here are 3 reasons why:

1. Term life insurance accomplishes the objective for buying life insurance in the first place

The purpose of life insurance is to make sure your loved ones are protected in the case of your untimely death, so why complicate matters by turning the policy into an investment vehicle? With term insurance, you can cover your loved ones during the period of time they need the coverage, which is why you are buying it in the first place.

2. A term life policy is far more affordable than a whole life policy

Not only will term insurance do exactly what a life insurance policy should, it is also a lot less expensive than whole life insurance. In many cases, you can save hundreds per month for the same dollar amount of protection with a term policy.

3. Term life insurance allows you to have greater control with the rest of your financial portfolio

Why commit hundreds of dollars monthly into a policy where much of that money goes to policy maintenance fees and it is very difficult to tell what kind of return you can expect on your investment. You’d be better off taking that money and putting it into investments that suit your family’s needs and give you more flexibility and freedom with your money.

So for most of us, the best plan is to protect our families with term insurance and invest the money we save into the financial vehicle of our choice. Decide for yourself what kind of life insurance is right for you by comparing rates today.

Compare low cost life insurance quotes today, and take the first step toward securing your family’s financial future at www.lifeinsurancequotetoday

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