|
Why Buy Life Insurance? Love. Yes, that's right. Love for your spouse, children, family, or even your school. This insurance provides financial protection for your family and friends when you die. There are basically two types of life insurance - Term and Permanent. Term life insurance provides insurance for a specific amount of time. Like, for one year. You can usually renew annually, and this is called "Annual Renewal Term". This works until about age 80. Level Term offers you a level premium for a fixed amount of years. You lock in a rate for 20 years. Then you have to get a new rate or new policy. Permanent Insurance is also called whole life, universal life, etc. This form of life insurance also has a built in savings plan. You get a death benefit with a cash value savings plan attached. Of course, this plan is more expensive, but allows for some financial latitude. You may be wondering why you would need insurance and what could you do with the proceeds if your spouse or loved one died. Here are some ideas that would help with the financial loss. Income. Even if your spouse works, loosing one salary could be devastating. Housing. The money could be used for rent or payoff the mortgage. Your spouse may not want to stay in the house, but it will give some options for them. Debt. Reducing debt due to the loss » Discuss it » Continue Reading »
Read More Articles, They Are Related to This Topic:;
What Is Permanent Life Insurance?
Unlike term life insurance, permanent insurance policies such as universal life, variable universal life and whole life...
Read it then add your comment
Why Buy Life Insurance?
Love. Yes, that's right. Love for your spouse, children, family, or even your school. This insurance provides...
Read it then add your comment
Life Insurance Beneficiaries
Naming a beneficiary for your life insurance policy can be a difficult decision to make, not to mention a tricky...
Read it then add your comment
Life Settlements, More Than A Cash Surrender Payout
With a life insurance settlement, seniors now have the ability to receive a payout larger than their cash surrender...
Read it then read 4 comments about it
The Life Insurance Plan Online
Thank goodness the internet age has arrived helping us to find a life insurance plan online. Manually quoting policies...
Read it then add your comment
| 
