Does Permanent Life Insurance Make Sense? 
Permanent Life insurance makes a lot of sense actually as part of your financial plan . There are needs for term or temporary insurance as well . Some insurance agents will tell you that Permanent Insurance is a `` rip off '' , and is n't needed but this is n't true . Each of us need to determine how much insurance and what type we need . Permanent or Traditional Whole life coverage will cover needs such as : Last expense Benefit for funeral costs and unpaid medical bills when you pass away . Estate Taxes for those of us with large estates . Business Continuation Insurance To Fund Buy and Sell Insurance for Business Partnerships -LRB- Term insurance can be used also -RRB- Term or Temporary Coverage is appropriate for needs like : Mortgage Protection to payoff your mortgage in the event of your premature death . Income for your surviving spouse and family , to adjust for life without your income . Money to either pay or partially pay for College education for your children . As a financial planner , I generally recommend a combination of both types of coverage for my clients 