Why Mortgage Life Insurance Isn’t Ideal For Most People

When deciding whether to purchase life insurance, most consumers focus on whole life insurance vs. term life insurance. Whole life insurance is a policy that lasts as long as a policyholder is alive. Term life insurance lasts for a prearranged period of time, such as 10 or 20 years, and is often used to insure against a parent’s untimely death during specific stages of a family’s life. There is another subset of life insurance, however, that covers specific areas of need.