SOLUTIONS

There are two types of insurance: whole life and term life. The specifics of your life — age, income, and other factors — help determine which type of and how much life insurance is appropriate for you.

But one fact remains true: funds for your funeral and final expenses will always be needed.

If the loss of your income would negatively impact those who depend on you, consider adding a term life policy to a whole life policy. Term life insurance can help your family if you die during your peak earning and asset accumulation years.