Need some advice on life insurance as planning to get one for myself. What are best options out there and what are some@factors to consider?

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Term is the best option for the vast majority of people.

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Were you reading that on an insurance company’s website?

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I got a 30 year term when I needed life insurance. I wish I had gotten two policy each for half the value and one for 20 years and one for 30. I don’t need as much insurance now as I did 20 years ago.

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Yeah, you can get more than one. Just layer term policies as needed. Def cheaper to get when younger and also if at any point you get some sort of medical condition, the cost after that could be much higher.

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Do NOT buy whole life. Buy term.

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Facts. Take the premiums you’d save and invest in the S&P, better returns as well.

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Agree with GSK. I don’t have policies on my kids, but we do have policies for my (non-externally working) wife. If something were to happen to her, we would need to get significantly more help or I would need to change jobs or both. The only thing I would say is this gets to be less of a need as the kids age so the duration for the non-working spouse could be less. High school kids will require less than toddlers and eventually they grow up.

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Policygenius.com
I bought all my term life policies from them

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Would it be a good idea to buy term insurance for each family member? only myself working, husband does not work as he is taking care of our 4 kids

You should analyze your need for insurance. For each person: if this person died what would the rest be doing? If the answer is that they would be in big trouble because they depended on that person's labor to earn money or run the household or whatnot, then that is a need that maybe should be insured.

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Thank you all!!

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