Best Bets for Whole Life Insurance

Make sure you buy from a reputable company when you need coverage to last a lifetime.

In the June issue of Kiplinger's Personal Finance magazine, Kim Lankford writes that fifty- and sixtysomethings should consider buying permanent life insurance rather than term life insurance if they still need coverage. A permanent cash-value policy, such as whole life, provides a safe place for savings, portfolio diversification, an instant line of credit and tax-free money to pay expenses after your death (see Life Insurance After 50).

If you're buying whole life insurance, you're looking for coverage for the rest of your life. So you want to make sure you get a policy from a company that will be around for a while. To make sure you're getting coverage from the best, consider these recommendations from the June issue of Kiplinger's Personal Finance:

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Cameron Huddleston
Former Online Editor,

Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.

Cameron Huddleston wrote the daily "Kip Tips" column for She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.