1. Jerry Vanderzanden, CLU, ChFCPRO
    Co-Founder, Coastal Financial Partners Group, California
    It depends on how much you need and for how long you need it. Your health and lifestyle matters as does the type of product you need.

    Term life insurance can cover a temporary need and is very affordable. For example, assuming a male age 40 needs coverage for 30 years, and is in excellent health, it may be possible to obtain $500,000 coverage for a level premium for that duration that amounts to a little more than $2 per day.

    For lifetime coverage that you cannot outlive, you would need to consider permanent (cash value) life insurance coverage and the cost for that is higher.

    Older and less healthy people pay more. Be sure to meet with a life insurance professional who can assist you with the right solution for your needs.
    Answered on May 13, 2013

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