What To Look Out For When Buying Life Insurance? 
Life insurance is offered for temporary and permanent protection against the economic liabilities and future obligations of the policy insured : term and permanent life insurance . Term life insurance can generally be purchased in five year increments like 5 , 10 , 15 , 20 & 30 years . Most permanent life insurance can be purchased to cover the inured to age 121 . Permanent life insurance has five basic product lines : participating whole life , guaranteed universal life , current assumption universal life , indexed universal life and variable universal life . You need to determine whether your financial liabilities and future obligations are temporary or permanent . You 'll need to establish whether permanent life insurance is for protection or tax advantaged income . A personal financial profile should assess your risk tolerance , money goals and your life expectancy . This will aid you in selecting the right product for your financial needs . 