Life insurance is often an important cornerstone of any financial plan, and there are various types of life insurance that are available. What factors should one consider when choosing a life insurance policy? This is a great primer on the main types of life insurance, both term and permanent. Choosing the right type of policy can be a daunting task, and this module helps to take some of the mystery out of that decision. How do you determine how much life insurance coverage is needed? Health care plans are covered next, including highlights of the Affordable Care Act, commonly referred to as “Obamacare.” What is happening to health care, and what decisions have to be made concerning coverage? This is followed by a discussion about disability and long-term care insurance. The final chapter deals with annuity contracts, which are packaged and sold by insurance companies. What types of annuities are available, and what withdrawal options are there? When does it make sense to purchase an annuity?

Author: Jim Pasztor, MS, CFP®

Jim Pasztor, vice president of Academic Affairs at the College for Financial Planning is also involved with several of the College’s investment courses and the white paper series. He is a CFPM® practitioner, and has an MS degree in personal financial planning and an MSF degree in financial analysis, both from the College for Financial Planning. Jim was the recipient of the Edward D. Baker III Journal Award from IMCA in 2014 for his article Endogenous Risk and Dangers to Market Stability. You can reach Jim at

Complexity Level: Overview