Comparing Term, Universal, Variable, and Whole Life Insurance

Life insurance is an important aspect of almost every financial plan, but how can you make sense of all the different policies available? Everyone seems to have their own opinion, and unfortunately there are also a lot of insurance salesmen who may be more inclined to earn a commission than to put you in the best type of policy. So, it's up to you to understand how each type of policy works so that you can decide what's best for you.

Here's a quick overview of the four most common life insurance policies with advantages and disadvantages of each. If you're informed when shopping for insurance you can be sure to get the best policy for your needs and budget.