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What do you need to know about life insurance?
Life insurance pays your beneficiary when you die; but, how do you know what kind of life insurance to buy, how much insurance should you purchase, and how much should you pay for your policy?
What are the reasons for purchasing life insurance?
Life insurance is like other types of insurance in that you can buy a lot of it or a little of it. Depending on the type of life insurance you buy, you may pay more, or you may pay less for the same benefits. If you are younger and/or healthier, you will pay less for your policy.
How much life insurance do you need?
One guideline suggests that your death benefit should be about eight to ten times your annual earnings. There are many factors that can influence your decision.
How much life insurance should you buy?
Whatever kind of insurance you purchase, make sure it provides enough of a benefit to meet your family’s needs if something should happen to you. What amount of death benefit will your family need?
What kind of life insurance should you buy?
Basically, there are two types:
In conclusion, there are many factors to consider when purchasing a life insurance policy. Please contact our office for valuable assistance in choosing the life insurance policy that will best fit your need, whether it be for personal reasons or business purposes.