What Kind of Life Insurance Should I Buy?

I only want to buy enough life insurance to pay for my burial. What kind should of life insurance should I buy?

Well, if the goal is to cover your burial, and you know that eventually you're going to die, you may want to consider several things:

1. How much will a $10,000 whole life insurance policy cost you, if you live for 20 more years?

2. How long would it take you, paying yourself that premium amount, to have that much money some type of savings account, to pay for your burial expenses?

3. How old are you?

4. How soon do you plan on dying?

If you're very young and healthy, the smart thing to do is just save $50 a month, and in four years, you've got the money for your burial expenses.

If you're very old and/or very sick, the premiums will be high enough that you're basically just prepaying your burial anyway, plus the commission.

It comes down to your age, health, and how soon you may die as to what type of life insurance to purchase in order to pay for your burial.

Some reports indicate a burial and related expenses may cost up to $6,5000 or more.

In addition, you may want to leave money to pay for any other outstanding debt you have, such as, your credit card debt and loans you haven't paid off yet. Also, you may want to leave money to pay your estate taxes and money for your family members.

Globe Life offers up to $30,000 of simplified life insurance with no medical exam required for people age 78 and under.

Globe Life has been insuring the loves of Americans since 1951 and they are rated "A+" Superior by AM best for financial strength.

Learn more about burial insurance from Globe Life.

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