Valuing Life Insurance and Selecting the Right Policy Size

Having life insurance is essential for those who value it, particularly permanent whole life insurance. The appropriate approach is to first determine the justified death benefit and then consider the premium and cash accumulation over time. The policy size should be aligned with your financial situation and goals, ensuring that the cash accumulation meets your emergency fund needs and long-term financial objectives. If the cash accumulation falls short of the desired level, it is crucial to increase the total policy size accordingly.