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Sam Said:

Exactley how does term life insurance work?

We Answered:

OK, term is PURE insurance - a straight bet on whether or not you'll die, within a certain time period. I LOVE term insurance.

"Regular" life insurance would be whole life, universal, variable, etc - where they've added gimicky extras to it, at about 10X the price of term insurance.

Don't worry about the labels - think about what you want the insurance to do for you. PIck the product AFTER you've set the goal.

Me, I want my kids to be able to go through college, and hubby to hire a nanny, if I kick off. When the kids are grown, we have no more need for life insurance, according to MY financial goals, so we have term.

Pearl Said:

Is 22 dollars a month with American General Life Insurance Company Term 30 Years too much?

We Answered:

That sounds like a very good rate.