Do you have term insurance?  If so, is it level for 5-, 10-, 15-, 20- or 30-years? Do you have the Waiver of Premium rider or the Return of Premium rider?

Do you have permanent insurance? If so, do you have universal life, whole life, or a blend of term and whole, also known as a “hybrid” or “blended” product? Is it variable or traditional (fixed), or is it an equity indexed plan? Are the premiums guaranteed, and is the death benefit guaranteed? If so, for how long?

Confusing? I might be able to help!

Life insurance can be owned or rented. If you purchase a “permanent” policy, the objective of the policy is to remain in-force until the day you die. If you purchase a “temporary” policy, the objective of the policy to remain in-force for a specific number of years.

However, keep in mind that a policy that is initially acquired to be permanent may turn into temporary coverage if the policy is not adequately funded.