How To Know When You Need Life Insurance Policies - New Cars | Car Style | Car Technology | Car Reviews | Car Gadgets | Car Rental Info | Car Insurance | Car Finance | Classic Cars - Life insurance pays out a benefit when the person insured dies during the time that the policy is in force. It can provide the cash needed to pay for burial, pay off mortgages and loans and give your family a financial cushion while they get back on their feet.
When you're young or have little discretionary income, it's easy to tell yourself that life insurance is just for the well-off, but the truth is that life insurance is far more necessary for those who have no monetary cushion against life's rougher times.
- The moment you are responsible for another person in your life, you need life insurance. Whether it's your children, a spouse or employees, if someone counts on your ability to earn an income, then life insurance is a necessity
- If you own a business, are partners in a business or are a key employee in a business, a life insurance policy can keep your business afloat while your employees or partners make arrangements to replace you or dissolve the business according to your wishes. If this is your reason for investing in life insurance, it could possibly be charged off as a business expense
- If you have a mortgage, you need life insurance to pay off the remainder of the mortgage if you should die before the mortgage is paid off. If you don't have some sort of insurance to pay off your mortgage when you die, your heirs will have to deal with the debt.
0 comments:
Post a Comment