Q. Do I need life insurance?

A. Yes. If you do not want your family suffer financially in the event of your death. They may have problems because they still have to pay the same mortgages, loans, or other bills without you. The death benefit can fund your family's needs.

Q. How much life insurance do I need?

A. Basically you need an insurance amount equal to your current incomes or whatever amount you think it is necessary for your family to live comfortably in a certain period of time (Until your children graduate,or until your spouse reaches 65 year old, ...)

Q. What types of insurances should I buy?

A. Life insurance is a long-term commitment. To select the right type of insurance to buy you should find out what you are trying to accomplish with life insurance.

• Protect my family financially after my death
• Accumulating funds for education costs
• Providing a way to pay estate taxes
• Provide additional supplemental income for my retirement or emergencies

Remember that term life pays a death benefit only, while whole life, universal life and variable life policies can supplement your income through withdrawals or loans against a policy's cash value.

Of course you also need to consider how much you can afford to pay. Term life is always cheaper to buy.