Life Insurance is one of the most misunderstood products on the market and has been for generations. There are many variations in life insurance, and more than a dozen uses for those variations.

People mistakenly believe that only “young’ people should use life insurance for pure death benefit protection for their families for a set period of time. If this is the only goal than term insurance or convertible term would probably be your best bet.

However, according to a recent article in Forbes magazine the biggest buying age group of life insurance are people over 50 years old. Many of these buyers have realized there are so many more reasons and strategies to have properly structured life insurance, so now they are adding life insurance to their financial plans.

Many high income and high net worth people utilize permanent life insurance for a wide variety of reasons.

That doesn’t mean life insurance in any form is for you, but it does mean it is a possibility that wise people and advisors explore. We have several videos and articles you can review that will give you a wide range of possibilities of how life insurance is used in financial and retirement plans.

Video 10 things everyone should know about high cash value life insurance, Term and conver term, Long term care and life insurance