I RECENTLY did a podcast on insurance planning and was surprised by the overwhelming response. While consumers were generally thankful for the information, I was taken aback that some advisers were still unhappy with us advocating that term plans are the more suitable form of insurance for most situations, even though I had written about this since 2004. So let me once again revisit this age-old debate on term plans vs whole-life insurance or rather, temporary vs permanent need of insurance.
Good insurance planning must begin with first deciding (1) How long you need your insurance (temporary or permanent), (2) How much of it do you need before deciding (3) what type of insurance to buy.
How long...
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