Who needs permanent life insurance? People with permanent needs. I.e. needs that will not end after a certain number of years.
No one knows for certain when death will occur, so funeral expenses will need to be covered by permanent life insurance if the goal is to pay off the funeral with life insurance.
Leaving an inheritance to children or grandchildren will require permanent life insurance. If you have Term insurance, pass away after it expires, and cannot qualify for or afford a new policy, the money you planned to leave your family will be gone.
Most people don't need all their life insurance in permanent policies, because some of their life insurance needs will be temporary. But when the need will not go away until death, permanent life insurance is the only sure solution.
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No one knows for certain when death will occur, so funeral expenses will need to be covered by permanent life insurance if the goal is to pay off the funeral with life insurance.
Leaving an inheritance to children or grandchildren will require permanent life insurance. If you have Term insurance, pass away after it expires, and cannot qualify for or afford a new policy, the money you planned to leave your family will be gone.
Most people don't need all their life insurance in permanent policies, because some of their life insurance needs will be temporary. But when the need will not go away until death, permanent life insurance is the only sure solution.