Thinking of retirement goes way beyond a retirement plan, 401k, savings, and investments. It includes planning for the ones you care as well. More people are retiring late in years, many become sick after or before retirement, and others do not live to the expected lifespan. In this shaky economy, jobs are not as steady as they were once, and for many, a good pension is nonexistent. The benefits of previous generations are not as generous today. That is one reason why an individual who has a family - wife and/or children, and even parents or relatives who depend on him/her financially, may need to have life insurance. Adding to that, funeral expenses are becoming a burden these days, and so are mortgages, second mortgages, and much more high-priced debt.
Some financial advisors recommend that the amount of life insurance that a person needs should equal the amount of his/her salary multiplied seven times. Others recommend that a person should figure out the income that he/she will need between now and retirement, and shoot for that figure in coverage. Whatever the case might be, buying the amount of insurance that will cover all the debts after a person is deceased is a smart step; loved ones who are left behind will not be burden.
Another issue to consider is what happens to a person’s property or estate after he/she dies. If the estate is tied up in probate court for a long period, the loved ones left behind may be in need of ready cash, which an insurance policy is able to provide.
Business people should mind their own business when they die. How much money will the relatives that will inherit it will need to keep running that business? Is that business the main income source of the family?
On the other hand, a person that is single and with no kids may want to forgo the extra expense and maybe do early-prepaid funeral arrangements and other necessary preparations.
There are many types of life insurance and each individual should analyze their finances and future income/expenses projections in order to select the type of insurance that fits their situation. Some types are Term Insurance, Permanent Insurance, and policy variations as well. It is important to make an informative decision when choosing life insurance.
If you have found out some way to not die, then sure - you'll never need life insurance ;)
You do not need a will for life insurance. I don't have a will, but I have life insurance. ;)
No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.
If you are looking to get life insurance you should consider if you have any dependents and if you don't you won't need life insurance. You could get life insurance if you are a sole owner of a company and you need to decide how much money your company will need after you die.
"Yes you can obtain life insurance from Prudential. Questions you should ask yourself include how much life insurance do I need, Do I need life insurance for my family."
my sister died and I need to no if she has life insurance
I need help
Yes. To sell variable universal life insurance you will need a Series 63 Securities License, a variable life insurance license, and a regular life insurance license.
Do you need life insurance for motorcycle rider in Texas? As a life insurance agent, I am not aware of any State law that requires you to have "life insurance" for a motorcycle rider. Is life insurance a good idea for a rider?? Oh yeah, most definitely!
no you dont need it
When getting life insurance, it's important to get the right amount of life insurance to meet your needs. One way to find out how much life insurance you need is to use a life insurance needs calculator to help you decide. These are available online and it only takes a few minutes to find out how much coverage you need. That way, you don't pay for more life insurance than you need, but your family has the protection they need.
You should consider life insurance that covers you for the amount you need. Term life insurance is one form of coverage.
The need of life insurance is based on each individual's specific situation and desire to protect their dependents. Life Foundation has needs calculators to find out your particular life insurance needs.