Forbes contributors publish independent expert analyses and insights. Juan Carlos Medina, CFP, focuses on holistic financial wellness. Life insurance is a core component of personal financial planning ...

Let's address the issue that has divided the insurance industry for decades: Should you buy whole life insurance to "be your own bank," or should you buy term insurance and invest the difference?

Whole life insurance is a form of permanent life insurance, which means the coverage remains in force until you die as long as you pay your premiums.

Selecting the appropriate insurance plan ranks as one of the major financial choices throughout one’s life. Insurance is not ...