|
Life Insurance: Who Needs It And How Much Do You Need? Your friendly, neighborhood life insurance agent is most likely to answer this question with the word "everybody." The fact is, not everybody does need life insurance. If you don't have a family, you probably don't need life insurance unless, of course, you're a really nice person and just want to leave some money to a friend or a charity. If you do have a family, the question isn't do you need life insurance. The question is how much do you need? A life insurance sales representative may want you to apply some kind of formula. In years gone by, he or she might have told you that you need to buy insurance equal to four times your annual salary. So, if your annual salary is $50,000, you might have been told you need at least a $200,000 policy. Today, the same agent might tell you that you need eight times your annual salary or a $400,000 policy. In most cases, this is probably too simplistic an approach, as it tends to assume that you are your family's sole provider. Today, there are a number of other factors that should be taken into consideration. Does your spouse work or is he/she a stay-at-home mom or dad? Are you a single mother or father? And where does that put you? How old are your children? Will your surviving spouse be raising kids for three years or 15? If your spouse works, how much does he or she earn? If something should happen to you, is there family » Discuss it (all 2) » Continue Reading »
Read More Articles, They Are Related to This Topic:;
How Can I Compare Life Insurance Quotes?
The online life insurance companies offer a free service where you can request a free quote for your life insurance...
Read it then add your comment
Everybody Wants The Best Term Life Insurance Quote
The information you need about the best term life insurance quote is only a click away when you search for term life...
Read it then add your comment
Life Insurance Information
Life insurance is a personal insurance plan designed to pay out a sum of money on the death of the policyholder. Life...
Read it then read 2 comments about it
The Best Rates On Life Insurance
Finding the best rates on life insurance is not difficult any longer. With a few simple key strokes you open up a vast...
Read it then read 4 comments about it
Term Or Whole Life Insurance - Which Is Right For You?
One of the most important things you will ever do is to choose a life insurance policy that will provide for your...
Read it then read 2 comments about it
| 
