Life insurance is an essential product for everyone- especially wealthy and affluent people. Most people buy life insurance to replace income after a sudden death. But some buy it to fund their retirement or pay off their mortgages. Some buy it so t…

Some claim that whole life insurance is only practical for extremely rich people. Unbelievably, one of the major personal financial websites states that whole life insurance "typically only makes sense for individuals with a net worth of at le…