You’re taking out a new policy for you and your wife. The things to think about while shopping for life insurance is pretty straight forward. You want to look at the beneficiaries. You want to consider their age, and where they are in life. If you have a 17 year old, that’s sort of a prodigy: already has a business going, is on his way through one of the best Ivy League universities in the U.S., and has a very good head on his shoulders, you may not need to worry as much, and your policy decision could reflect this. If you have relatively defenseless children, all under the age of 5, that’s a whole other story altogether. So the beneficiaries ages play a critical role, that’s one end of the equation. The other end of the equation is how much you’re worth, and how much you make. The former is more important.
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