Comments on: Life Insurance: Do you Really Need It?

By: Brook

Brook — Sun, 14 Mar 2010 14:09:59 +0000

I would suggest you take out a term life policy that would pay off any debts, plus provide enough income to get your kids through school and out of the house and replace your income for the years in which they would still be there. My personal theory is you take out a term policy for around 100,000 per child with return of premium on it whenever you have a new baby, then you get all the money back if you don’t pass away so all you really spent was whatever interest that 7000 or so dollars would have made you over the period. Do the same for mortgages or loans for cars, and just figure it as part of the cost of ownership. Any more than that is unnecessary and can frankly be better spent in planning for retirement. You might also want to take out a smaller policy for burial and funeral expenses that does not expire, like 15 or 20 thousand dollars as a Universal Life policy, they tend to be very affordable when you are younger.
References :
I am a licensed insurance agent in Tennessee with appointment to multiple companies.
http://www.lifeplanningtn.com

By: Tim

Tim — Sun, 14 Mar 2010 14:07:59 +0000

lifeinsurance.awardspace.info – try this one. I have their insurance and, as remember, they can provide such a service.
References :

By: Mr. Prefect

Mr. Prefect — Sun, 14 Mar 2010 14:05:59 +0000

If your demise entails that your dependents will not be able to live comfortably as they are accustomed, then you need insurance. If you have set them up for life, a business to go into, a pot of gold at the end, never to have to say no, then they are in great shape. Unfortunately these types of people are few and far between. If your spouse will have to go to work, and kids will not have a place to live, with no future money for college, cars, living, if you die, then look into life insurance.
References :

By: William

William — Sun, 14 Mar 2010 14:03:59 +0000

Only YOU can make that judgment. The purpose of life insurance is to replace your lost income (should you die) for those who financially depend on you.
References :

By: Salome

Salome — Sun, 14 Mar 2010 14:01:59 +0000

Before we answer your question let us look at what Life Insurance is all about:

What is Life Insurance

Life insurance is a policy that you can enter with your insurance company, which promises a certain amount to your beneficiary(ies) in the event of your death. Usually, a spouse will name the other spouse as well as their children as beneficiaries of the policy. As part of the agreement with life insurance, your insurance policy will be a monetary value, that you will in return, pay a monthly premium for. Premiums usually depend on your age, gender, occupation, medical history and other factors.

There are other types of life insurance that may provide benefits for you and for your family while you are still living. These policies can accrue a cash value on a tax-deferred basis and can be used for future needs such as retirement or your child’s education.

Do You Need Life Insurance

Earning an income allows you and your family to do many things. It pays for your mortgage, buys cars, food, clothing, vacations and many other luxuries that you and your family enjoy. However, certain situations can cause you to lose your income, and those who depend on you also depend on your income. If any of the following statements about you and your family are true, then it is probably a good idea for you to consider life insurance.

1) You are married and have a spouse.

2) You have children who are dependent on you.

3) You have a parent or relative who is aging, or disable and depends on you.

4) You have a loved one in your life that you wish to provide for.

5) Your 401K retirement plan, pension and savings aren’t enough to insure your loved one’s future.

What Are Your Life Insurance Options

For more information visit http://www.insurancetipsarena.com/27343.php
References :
http://www.insurancetipsarena.com/27343.php

By: Justin

Justin — Sun, 14 Mar 2010 08:59:35 +0000

Do I really need to take a Life Insurance Policy?
I have been asked to take a life insurance policy to ensure the well being of my dependants. I have a feeling that I do not really need it because I have enough to go round for them. I need to know if taking a life insurance policy is important.