Uncomplicated life insurance policies that pay a set amount of benefits upon your death are what most people want, but there are many more complicated options now available. They advertise features like vanishing premiums and interest yields, but fine print limitations can make those benefits illusory. Because insurers pay higher commissions to agents who sell the more complicated products, buyers must beware.
One of those partners is the CA-based Life Insurance Consumer Advocacy Center. The Center’s website has consumer-friendly explanations of the pros and cons of the different types of life insurance policies on the market today.
Originally published as our February 2022 Tip of the Month