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Life & Health Insurance/Selecting a Life Insurance Policy



I am in my late 20's, rather good health, and have no children or spouse. In the last 3 years, I unexpectedly lost my grandparents, and then a year ago, suddenly lost my stepfather (he was only in his 40's!), and have seen the price of funerals and final expenses, and the headache of planning it all. I have no life savings, and my mother is barely scraping by, and could in no way afford a funeral.

In this situation, I'm wanting life insurance, as a method of paying for final expenses and my funeral. However, I'm bewildered by the choices and terms and which is my best option. I see some that are for a set period, which everyone says I should do... but at the end of that period, if you haven't passed away, haven't you just thrown that money away? Is there anything preventing the company from denying you a renewal if you didn't use the insurance?

Any advice and guidance would be most appreciated. I don't know how to find an agent to ask, so I apologize for asking you what is surely an obvious question.

Thanks for your question.  It sounds like you could benefit from some basic advice about buying life insurance.  I admire both your motivation to help your mother and your willingness to admit that you need some help.  Unfortunately, the subject is to complex to address in a simple answer on this web site.  As it turns out, I have written a short booklet entitled, "Buying Life Insurance -- What You Need to Know".  It sells on Amazon for about $15 or so and for about half that in electronic form for the Kindle...but in your case I am willing to send you a free copy electronically if you are willing to give me your direct email.  To reassure you that I'm not some kook, feel free to check me out on my web
If you would like a free copy, just let me know by email to
Best wishes,
Bill Hezzelwood

Life & Health Insurance

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William Hezzelwood


I can answer almost any question about life insurance, such as: 1) What kinds of life insurance are available? 2) I have an old policy that is in danger of lapsing...should I pay more money into it? 3) I think my insurance company is not treating me I have grounds to sue them? 4) My agent has proposed that I buy insurance from company that a good, reputable company?


I am recently retired from a 40-year career as an actuary for a major life insurance company. I worked in the life insurance division and had a wide variety of responsibilities, such as: product development, systems development and management, field compensation, and program management.

Fellow of the Society of Actuaries (by examination) Member of the American Academy of Actuaries Member of the Forensic Expert Witness Association Member of the American Association of Economic and Financial Experts Member of the National Association of Forensic Economics Member of the Financial Planning Association of Orange County

I have a B.S. in Business Administration (major in Actuarial Science) from Drake University.

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