Life Insurance Roswell New Mexico NM
Reader’s Question:
My wife and I have recently divorced. Part of our settlement calls for me to provide life insurance for her in Roswell, New Mexico. It does not specify which type and I am interested in your suggestions. Thanks,
Dave
Roswell, NM
Hello Dave,
Divorce and life insurance seem to go together. Such is the case for many of life’s changes. It seems you will need to make a decision between term life insurance and whole life insurance. Contact a life insurance agent in Roswell New Mexico and review your financial information and provide a brief medical history. Most likely he will outline some possibilities for you. Then, contact your attorney and make sure the proposed life insurance complies with your divorce agreement.
Depending on your financial circumstance in New Mexico NM, the choice between whole life and term life is fairly clear. With whole life insurance you actually establish cash value, which may serve you, the owner, well in the future. With term life insurance, you are not building any equity but the premiums are substantially lower. Generally we recommend renewable term life policies.
It sounds like your divorce calls for the security of a death benefit, which both term life and whole life provide. If your divorce sets life insurance policy limits, make sure your agent in Roswell, NM has the information. Good luck!
Tags: life insurance, life insurance leads, term life insurance, whole life insurance
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