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Why is it important to have life insurance?

Updated: 8/18/2019
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13y ago

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Life Insurance - in the event the insured dies the policy pays out a tax free amount to the beneficiary. There are three types:

  1. Term Insurance - Insurance coverage for a stated term. This a great way to cover temporary insurance needs.
  2. Whole Life - provides permanent coverage with a guaranteed death benefit and level premiums. Plan gains value over time and is subject to investment gains and loses.
  3. Universal Life - provides permanent insurance with an optional tax sheltered investment component. Death Benefit can be level or increasing making this an excellent option for estate preservation and maximization.
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Q: Why is it important to have life insurance?
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Related questions

It is not important to have a life insurance policy.?

It is not important to have a life insurance policy.


Where could a Canadian purchase life insurance?

Life insurance is an important protection to have. Canadians can purchase life insurance through a local independent broker, or online at LSM Insurance.


Why is a life insurance license important?

The only reason someone needs a life insurance license or certification is to be able to sell this type of insurance.


What is the best way to compare life insurance policies?

The best way to compare life insurance policies is to look up many different life insurance policies through many various different important ways that are very important and different.


Why is it important for Diabetics to have life insurance?

It is important for Diabetics to have life insurance in case they have an urgent medical problem which needs a doctors' services right away. With life insurance, if they are having a problem involving their sugar intake, this can help them financially, whatever the problem might be.


What are term life insurance rates?

Term life insurance rate varies by the company you are getting life insurance from. Some insurance rates will vary from pretty cheap to pretty expensive. It is important to decide what you want in life insurance and then select the best option and compare the rates.


What factors are important when choosing life insurance?

Some important factors to consider when choosing life insurance, inlcude: How long need life insurance. How much life insurance you need. What type of life insurance to buy. The financial rating of the insurance company. The customer service of the insurance company. How much you can afford to pay for life insurance. Your goal for buying the life insurance. Who to name as beneficiary. Anyway, if you are looking for a very affordable life insurance, I recommend you check the site below to get free quotes and compare premiums between different insurance companies in the US. The website will pull up comparable premiums from the database, that would give you the best insurance quote and decide which one is best for you. http://www.goodinsurancepolicy.com


When getting life insurance coverage is less or more important?

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.


Does globe life insurance offer car insurance?

Although global life insurance does not cover your car, it will typically cover any means of death. This is important coverage for adults and children.


What is the purpose of receivables insurance?

The purpose of receivables insurance is to get insurance for your company and keep it safe. Insurance is very important in many aspects in life and recivable insurance is great for companies.


Is life insurance recommended for single parents?

Life insurance is even more important for single parents as they are likely the sole provider for their child(ren). Life insurance would help provide for them if something happened to the parent.


Where can one find information about life insurance quotes online?

Life insurance is an important part of life, by insuring loved ones are taken care of without worries. Life insurance is comprised of many parts that are made specifically to fit your lifestyle.