There are many reasons for obtaining life insurance coverage, whether you have a spouse and children to protect or simply want to leave behind a legacy. Before you can choose and buy the right policy for you, you need to understand how a life insurance policy functions in the first place.
You’ve probably heard the famous Benjamin Franklin quote, that nothing in life is certain except death and taxes. While both of those (unpleasant) facts hold true, do they necessarily need to co-exist?
There are times in life that you can probably risk cutting corners: buying conventional bananas over organic, for instance, or opting for generic paper towels. When it comes to your life insurance coverage, however, a little bit of savings may not be worthwhile if it comes at the expense of your loved ones’ financial stability.
One of the best ways to financially protect those you love is to buy adequate life insurance coverage. Both short- and long-term policies can replace your income if you were to suddenly pass away, as well as provide for your loved ones’ needs. But once you’ve purchased a life insurance policy, is there ever a reason to buy another one? Today, let’s talk about whether or not you can have more than one life insurance policy, and why you’d want to in the first place.
Odds are, you’ve been told that life insurance is an important tool for protecting your loved ones if you — and your income — were suddenly gone. This coverage can help support your family in your absence, paying for the things that your earnings would have gone toward.
There’s no denying that life insurance is a valuable product that can provide your loved ones with a much-needed financial safety net, were you to pass away. It can offer many decades of protection and even safeguard your established wealth.
Life insurance is arguably one of the most worthwhile expenses when it comes to providing financial protection to those you love. But it is exactly that: an expense. The amount you’ll pay for your life insurance coverage depends on a number of key factors, some of which are within your control while others are not. Here’s a look at the top things that contribute most to your life insurance premiums, and how you can best reduce the cost of coverage while still protecting your family and assets.