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Do
I have enough coverage?
A major problem life insurance is that many people are not prepared. Talk
with a life insurance agent or broker to work out a plan that would best
suit your family's needs. More
Answers!
Which spouse should start a policy?
Both! Whether both of you are working or not, the death of a spouse
will be a financial burden. There will be funeral costs, living costs,
and retirement costs to deal with. So be prepared!
Q. How much life insurance will I need?
A. It may vary depending on family's financial situation, savings
and lifestyle. Usually plan on between 4 - 7 times your income. You should
review your coverage every few years to verify you still have enough coverage.
Q. What if I need insurance coverage for short period
of time?
A. Then Term Life insurance is policy type for you. This plan
provides temporary coverage for a set amount of time. Term insurance generally
provides a lower initial cost, with the cost rising over the years.
Q. When should I create a will?
A. Now! There is no better way to ensure your family's financial
security in the event of tragedy. Make sure to state who will get what
and be specific. If you want John Doe to have your car, then specify that
exact statement. Otherwise there could be confusion, and where there is
confusion, there could be court. And you don't want to put your family
through this. So be specific!
Q. Why is Whole Life insurance more expensive?
A. The initial premium can be higher than that of term insurance,
but there are additional features and benefits built into Whole Life insurance
that make it a greater value for the dollar spent. For instance it carries
a cash gains in which you can borrow from, tax-free. Also Whole Life insurance
is "Permanent Life insurance", this means that the policy will
last your lifetime.
Life insurance is designed to provide financial security for your family
after your gone.
Find out more about Whole Life insurance; fill out the "quote"
form and receive answers to your questions and a free life insurance quote!
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