What Is a Life Insurance Clean-up Fund?

What Is a Life Insurance Clean-up Fund?

Without life insurance or a substantial savings, a clean up fund is impossible to justify. And this is just one category of the life insurance economics.

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How to Determine How Much Life Insurance You Need

How to Determine How Much Life Insurance You Need

The standard rules of thumb for purchasing life insurance policies – which tend to be based on income levels – may not be sufficient guidance in every case, according to a report in the Chicago Tribune.

Author and expert Tim Maurer told the Tribune that consumers should consider total life insurance needs by combining four main categories: Final expenses, mortgages and other debts, income replacement, and educational funds. These will vary wildly depending on the number and age of a family’s children, amount of money owed on a mortgage, and overall income level.

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If I’m single and don’t have children, do I need life insurance?

If I’m single and don’t have children, do I need life insurance?

A survey by the LIFE Foundation shows that 93 percent of Americans think it’s important for most people to have life insurance, and yet nearly half of those surveyed said they don’t have enough coverage.

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Importance of life insurance during economic downturn

Importance of life insurance during economic downturn

In these challenging economic times, Americans have made numerous adjustments to shore up their family finances. Savings rates are on the rise, debt is being consolidated and slowly paid down, and people are spending and investing their money more conservatively.

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