Times are changing, and so are the reasons why people are buying life insurance. The need for this type of insurance has grown from the original purpose. People are finding new, innovate ways to set aside funds for either loved ones, charities and/or businesses.Read More
The human life value concept deals with human capital, which is a person’s income potential. It goes beyond just the numbers, and considers the overall impact of losing someone, especially the breadwinner. This method is ideal in situations where replacing the income lost, due to the death of a breadwinner, is the primary concern.Read More
Here is a list of the top reasons for purchasing a life insurance policy.Read More
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.Read More