Young parents should focus on cash-value life insurance to meet their life insurance needs.

Question

Quizplus · Accepted Answer

Cash-value life insurance policies, such as whole life insurance, are generally more expensive than term life insurance and may not be the most cost-effective way for young parents to get the coverage they need. Term life insurance is often recommended for young families because it provides a higher death benefit at a lower cost, which is more suitable for income replacement and covering specific financial obligations like a mortgage or children's education.

Young Parents Should Focus on Cash-Value Life Insurance to Meet