I’ve got a couple of life insurance policies for my husband and myself. One thing I have always wondered about is the differences from one company to another.
There are a bunch of different companies out there and trying to understand what is being offered is sometimes hard to understand. I men there is cheap term life insurance and then there is the expensive stuff.
What is the meaning of ‘term’ life insurance, and the life insurance that you can build equity for possible loans later? Is there an easy explanation? I have no idea. I do know that what we have will be enough to pay for a funeral and also pay for some of the debts that we have. Some policies (I guess it’s called debt forgiveness) would pay off balances on some debts, another will just pay a basic amount. I’m not really sure that we have the minimum or need more. All I can say is that life goes on. Now that I’m happy about.