If your financial planner does not incorporate life insurance in your financial plan he or she is doing you a tremendous disservice.
The only question is what type of life insurance.
While term insurance term insurance can be useful for a young person, recently married, with a mortgage and young children, for older people whose children are grown and who have the potential of acquiring a health problem, term insurance is not the way to go.
Term insurance is just what the words alludes to. It's for a term of years and then it's no more. If you have an option to keep it and do so, your premium jumps significantly higher.
If you have a preferred whole life or a 20 pay whole life already in place, then the only type of life insurance policy you still must have is a whole life final expense policy.
For Illinois residents, call (773)614-3201 for more information and quotes.