Why Term Life Insurance Makes Sense
Term Life insurance is the smart choice. It’s simple, affordable, and designed to protect your loved ones during the years they need it most—like when you’re raising kids, paying off your mortgage, or building your nest egg. Term life policies last for a set time, typically 20–30 years. If you or your spouse passes away during that time, your beneficiaries (the people you choose) get a payout. That’s it—no gimmicks, no fluff.
Now, let’s talk about Whole Life insurance. Sure, it lasts your entire life, but here’s the problem: it costs a fortune, and most of what you’re paying is going into a low-return “savings” account that doesn’t make financial sense. Insurance companies love selling whole life because it makes them rich—not you.
The Better Plan
If you follow the steps we teach—like getting out of debt, building a full emergency fund, and investing 15% of your income—you won’t need life insurance forever. Why? Because you’ll be self-insured! Picture this: zero debt, an emergency fund, and solid investments that take care of your family without paying an insurance company a dime.
So, skip the whole life hype. Get term life insurance for the years you actually need it, and invest the difference. That’s how you build wealth and protect your family.