(t may not be something you want to think about, and rightly so, but investing in a life insurance plan is a good idea for a multitude of reasons. There are many variables involved with different life insurance plans, and each plan has different methods of determining its fees.

If you are considering a life insurance policy, you'll want to do as much research as possible into different agencies to figure out which plan best suits your needs.

First, let's talk a little about why you should consider investing in a life insurance policy.

The purpose of having a life insurance plan is to protect your family from financial disaster if you die. If you suddenly die with no insurance, the burden of paying off a mortgage, the taxes owed to the government from your inheritance, or a grandchild’s college tuition could placed be on your family's shoulders.

There may be no need for insurance if you have no dependents and are single. If you are married with no dependents, you will still want to consider a life insurance policy so the burden is not left on your spouse if you die.

Here are some common questions about life insurance:

How expensive is life insurance?

If you are young (baby boomer retirees still count) and are in good health (don’t smoke, no health conditions, etc.), life insurance may be more affordable than you think. But if you are a little older and have bad habits or medical conditions, you may find that a life insurance policy will be very expensive.

What kind of plan will I need?

This will depend mostly on your age, your lifestyle, and how much taxable money you will leave to those in your will. Think about the life expectancy of yourself and your spouse, along with the general state of your health. Also take into consideration whether or not your spouse will be able to provide for him or herself after you’re gone.

Do my spouse and I need separate plans?

Yes. You never know what might happen to whom first. The cost of each plan will depend greatly on the age and health of each individual. Also consider who would be left with what burden if someone dies, and if either of you would still be receiving an income.

You should be very careful about the company and plan you choose. Do your homework, as each company’s policies can be very different. Choosing the right plan for you is one of the most important steps to retirement, as you will make sure your family is safe and secure if anything should happen to you.