Term life insurance(as opposed to permanent life insurance) is a greatly useful tool for insuring against things like short term income loss, mortgage protection and longer term needs such as ongoing expense coverage. 

The problem is plans are set up to short, medium or longasdasdasdasd term in focus and to get a one plan that fits all sthese needs, is going to be expensive because at differernt times, you are going to find yourself over insured.

So... how can an insurance broker help you put toegther the best strategy?  Well, a broker should understand that since no one plan fits all, but different plans fit different circumstances, that there is a way to take multiple plans and used their combined power to bring you the life insurance that you need, with the cost savings of having more targeted plans.  This is called a "Layering strategy".  Here's how it works.

a.    Take out a 10 year, 20 year and a 30 year policy.  Shorter terms polices are more expensive, but give greater coverage.

b.    The 10 year policy, gives the most coverage and is best suited for people with young kids, lots of current and future debt.

c.    At the end of 10 years let the 10 year policy lapse and keep paying the 20 and 30 year policy.  This will still leave covereage on the mortage assuming its been paid down somewhat, and since the kids are now 10 years older, there will be less future expense of raising them if something happens so you

need less insurance.  Your 20 year policy, is still going to be able to cover things like, the college education for your kids.

d.    At the end of 20 years, let the 20 year plan lapse, again, your needs are less and the 30 year plan should have you covered.

Of course, you can at any time lock on of these policies into  a permanent rather than term policy so you can lock in a  'for the rest of your life" price.

So - getting back to the title of this article.  

Why do you need to get this plan put together by a broker? 

Putting together a 3 term life insurance policy, and working out the best strategy for it is not something you'll get from an insurance company.  The reality is.... It means more work for them, for less return. 

Its just not in their interests to push such a product, and they won't.  But your life insurance broker if they have any idea as to what they are doing.... they'll know exactly what I'm talking about and how to go about it.