My birthday will be coming up in a few months and that means its time to pay up my term life insurance premiums again. Ouch! From my experience, its useful to have life insurance, but only to a degree. You don’t have to run out and buy one every time that someone offers to sell you a package. After all, its not something you can take with you when you are gone and it goes to benefit your beneficiaries. If you are planning to purchase insurance however, start when you are young. Your premiums will be lower which will be easier on the pocket. Also, opt to pay monthly instead of a lump sum at the end of the year. This way, you don’t feel it so much. I made the mistake of opting for a lump sum payment. Double ouch!
