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Which type of life insurance should i buy? Term Life Insurance or Permanent Universal Life Insurance?

+10 votes

After purchasing my first home i was told and advised by my bank to get a life insurance for myself and my wife. Is it really necessary to buy life insurance when i am trying to save enough money to pay my monthly mortgage? If it is really necessary to buy life insurance, which type of life insurance should i go for? The term life insurance or the permanent universal life insurance? I do not know if it is because those bankers are just trying to sell me some life insurance product for their own goals and commissions.

Life Insurance

asked in Edmundston by Andrew Randall (176 points)

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