I could really use some advice here. I’m trying to help my father find a life insurance policy and I’m completely lost at all these different types of plans: whole life, term, etc. He’s going to be 60 soon, and he’s had some health concerns recently and I suppose it’s only just hit me now that he isn’t immortal. I handle all of his finances right now.

Currently he is still working, and makes around 50k a year, has four dependents, 30k left on the mortgage, but no other debt. I would be responsible for my siblings should he pass. And due to some other circumstances, I expect we would be unable to stay in the home. I’m not sure how I would be able to financially handle all of funeral expenses and then taking care of four more people.

What is the best I can hope for in this situation? And should I look into getting a whole life insurance policy for him? What other things should I be doing to prepare for his eventual passing?