You've just landed your first job. You have a good amount of debt, from student loans to credit cards. You are worried about something happening to you and all your debt will belong to your family to pay off. However, you are on a tight budget.
Which type of insurance works best for this situation?
Choose 1 answer:
Choose 1 answer:
(Choice A) term life insurance
A
term life insurance
(Choice B) long-term care insurance
B
long-term care insurance
(Choice C) whole life insurance
C
whole life insurance
A) term life insurance
Term life insurance is typically more affordable compared to whole life insurance, making it a good option for someone on a tight budget. It provides coverage for a specific period of time and pays out a death benefit to your beneficiaries if you were to pass away during that term. This can help protect your family from inheriting your debt.