Do you know why you need life insurance? So many people buy life insurance for the wrong reasons and most people that truly need it rarely purchase enough.
Life insurance is not for yourself. If you are single and have no dependents, spending money on a huge amount of life insurance is a waste of money. If you have a family with young children, then you should be heavily insured on life insurance.
Life insurance is for your family to replace the loss of income that the household unit will lose if something happens to you. It should be able to cover your outstanding debts and provide living expenses for your family.
What is the best type of life insurance to buy? TERM life insurance is the cheapest and the right product to buy. Do not buy policies that have a cash value or some sort of "investment vehicle" built into it. Keep your investments separate. There are plenty of great mutual fund companies out there that will provide a substantially better return on your money. See an example of how a better return on your money will add up to a fortune in the long run. Visit http://www.givemebigmoney.com/pay.html
When shopping for life insurance make sure that the company is financially strong. Click here http://info.insure.com/ratings/ to check out the financial strength ratings for over 4,000 companies.
How should you calculate what you need? Here is a good place to learn more.
http://www.smartmoney.com/insurance/life/index.cfm?story=intro
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment