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Freddie Said:

What percent of term life insurance policies pay out?

We Answered:

Statistics say that only 2-3% of death claims are settled by term policies.

My suggestion is to call a LOCAL agent and have him/her do a free Financial Need Analysis (FNA), or other Total Need Program, to help you understand the differences in term and permanent, and to make an educated decision as to how much insurance you need, and what type.

I'm not going to argue which is better, term or permanent, at this point. That would be up to you after receiving knowledge with your FNA.

You might want to consider a combination of permanent and term, to make sure it's there when you need it.

The FNA will also help you determine if you need disability income insurance, or an Individual Retirement Account.

Statistics prove that risk is greater that one will be disabled prior to 65, rather than death.