Consider your healthcare needs, budget, preferred doctors and hospitals, and whether the plan covers the prescriptions and services you require. It's also important to understand the plan's premiums, deductibles, copays, and out-of-pocket maximums.

The right amount depends on your financial obligations, income, dependents, and future goals. Consider debts, income replacement, education costs for dependents, and future financial commitments when determining your coverage amount.

Original Medicare is provided by the federal government and mainly covers hospital and medical costs, with the option to add drug coverage. Medicare Advantage plans are offered by private companies and include all benefits of Original Medicare, often with additional coverage like vision, dental, and hearing, but usually require using network providers.

Term life insurance provides coverage for a specific time period (the term) and pays out a death benefit if the insured person dies during that term. It's typically less expensive but has no cash value component. Whole life insurance, on the other hand, provides lifelong coverage, includes a cash value accumulation feature, and generally has higher premiums. Whole life insurance allows you to build cash value, which you can borrow against or use in various ways throughout your lifetime.