| Should you have life insurance?
Who should get life insurance?
What type of life insurance should you have?
Which type of insurance should you pick?
How much life insurance do you need? and
How can you shop for life insurance? |
| Many, many financial types will advise you that whole life policies are
bad news for most people. Only you will know the insurance options
that will make you feel comfortable, but you need to make sure you
evaluate all your options. Please consult a disinterested financial
adviser before making your final decision. My comments below are
strictly my own opinion. |
| Should it include the baby, the high school student, the college student,
the young couple just starting out, the couple with a growing family, or
the older couple whose kids have all moved out? Everyone should have life
insurance because some expenses will be incurred in the passing away of
anyone, even a baby, such as funeral expenses. For everyone to have life
insurance, however, is an ideal situation. On a more practical basis, you
should have life insurance if you are a breadwinner of your family in order
to protect your d ones from financial difficulties arising from loss of
income that will result from your premature death. |
| As stated before, the type of insurance that is best for you will depend
upon your age, health, income level, and special needs. This is because
there are advantages and disadvantages with each of the two types of life
insurance, and you will need to consider these to determine the one best
suited to your needs. Some advantages and disadvantages for the term life
and whole life are given below. |
| Universal Life, differs from the traditional whole life by investing the
premiums in fixed-income securities that provide better rates than the
traditional whole life. You can choose to use the accumulated cash to buy
more death coverage or to pay the annual premiums, or both. |
