What Type of Life Insurance Do I Need?

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I am 74 years old, widow, with two life policies,
one which I continue to pay monthly...the other
is a Once a Year Premium for the rest of my Life.
Heaven help me if I ever forget to pay this
Once a Year Premium.
I would also like to have/buy a small policy
for $25,000 to cover finances after my demise.
What to buy?
Who/Where to Buy.
The Teaching Policy is for $25,000.
The one I pay monthly along with BCBS Medical
Insurance is also for $20,000.

Louise F. Byrd of NM 3:02PM July 17, 2012

I wish someone could explain "Term Insurance" to me, I have no idea what it is and what happens to it after you reach age 85. I bought a Term Policy when money was hard to come by at age 35 because I had six kids and needed something and now I'm nearing 85 and do not know what will happen? I've been paying monthly and have paid in more than the policy is worth. but at age 85 will I lose that insurance and get nothing for funeral expenses? what will happen to this policy is it worthless? or?

Jerome R. Ludmann of WI 5:35PM July 16, 2012