Time to Re-Evaluate Your Life Insurance Coverage?
CNNFN (10/12/01) Vol. 144, No. 5 p.38; Chernoff, Allan

Linda Lanam, vice president at ACLI, explains that when considering what type of life insurance to buy, one must evaluate one's personal needs, such as who needs to be protected under a policy and how much one owes. When deciding whether to take out a term life policy or a whole life policy, Lanam notes that term life policies are often used to cover a specific obligation, such as a mortgage. Whole life policies are broader and allow the flexibility to build cash values and do a variety of things with it. When asked if the threat of terrorism will inflate life insurance premiums, Lanam responded that as long as the overall mortality rate is not affected significantly, individual insurance premiums should not be affected.

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