I tend to prefer term life insurance over permanent life or whole life if you are young enough to afford it.  There is a high cost to permanent policies with many guarantees.  But, it may be best to keep the current life policy you have in place--depending on your health and age.

    The traditional way of selling life insurance is a life insurance agent comes to your door and sells you a $100,000 whole life policy while you are young, and maybe adding to over the years if it is a universal policy.  But, this family may have three young kids and a $175,000 mortgage.  If the main bread winner died, this $100K policy does not come close to covering the home, any future income, college expenses, funeral costs and much more.  The traditional approach lacks much in my opinion.  Consider Term Insurance while you are young and buy it for as long a period as you can. 

    Many approaches are available for life insurance planning, but some things are generally constant.  As you age and develop health issues, the cost increases.  Complicated insurance plans and annuities are hard to understand and considerable thought must go into these purchases to avoid more added high costs to exit them.

Insurance Salesperson Based Planning: (What you need to know!)

    Remember, all insurance based policies and plans have ongoing yearly fees--it will be a huge detriment to your savings and investments.  With CG Financial Consulting this is avoided.
An insurance based planner earns his/her living on commissions.  You never truly know the commission he or she is making and it could be a very sizable annually--depending on what they are selling.  With Variable Annuities and some other type of insurance based products may provide a better return for the advisor than the client.  In my opinion insurance based advisors lead the way in having a conflict of interest.  Watch out for long lasting surrender charges and high internal fees.
Try reading and understanding the prospectus of an insurance company product that is "sold" as any investment.  Can you truly tell what you are paying in yearly fees or what the insurance advisor is paid in commissions yearly?  Even if you ask you may not get the whole truth.  Not a relationship most people should be in--a glaring conflict of interest.
I believe the huge drag in fees truly limits your return in an insurance base "investment"--I  feel insurance should be used for insurance they things and people you care about NOT for investments.  The lower the fees, the easier it is to build and keep your nest egg.

    At CG Financial Consulting we take a look at your investments, insurance and liabilities, and make a comprehensive financial plan to meet your goals and what you want to achieve. There are no yearly fees or percentages that some planners charge. We charge by the hour or by the plan, there is never a conflict of interest.