Another benefit from life insurance is that a permanent life insurance policy offers cash value. That means that you could borrow against it for college loans, a down payment for a home, or any personal loan. The lender uses life insurance policy for a down payment.

So throughout all these stages in a person's life, life insurance should be considered and reexamined to fit different life changing events. From day you graduate high school to day you retire. A qualified life insurance professional can help you decide which policy to start, how much you can afford to pay and how much to open a policy for.

Studies how that 40% of people who receive any type of long term care services are under age of 65. Studies also show that there is a 50% chance that a person will need some type of long term care service after age 65.

Long term care insurance is right for many people, but if you are in position that you can pay for your care with assets then long term care insurance might not be best idea.