In the life insurance world, you should buy only term life insurance.
Avoid any kind of insurance that has a savings program built into it — things like whole life, universal life and variable life.
Another thing to avoid is return of premium. This is where an insurance company charges you extra, but gives all your premium money back if you don’t use the policy. It sounds good, but if you’d just invest the extra you pay for that stuff, you’d get all your premiums back, and more, whether you used the insurance or not.
I also don’t recommend gimmick insurances, like double indemnity for accidental death. Think about it. You’re not double dead if you die by accident; you’re just dead.
