How Life Insurance Works Following the Death of the Insured

How Life Insurance Works Following the Death of the Insured

If you or another income-earning family member died today, what would your family’s financial situation be like? It’s not a pleasant subject to consider, but the knowledge that there are funds to help cover your family’s daily needs and costs provide a small comfort. One way to ensure your family’s survivors have immediate cash after a death is thorough and proper planning, as well as life insurance, says Edward E. Graves, author of McGill’s Life…

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Top Answers to Questions About Whole Life Insurance

Top Answers to Questions About Whole Life Insurance

To completely grasp the benefits of whole life insurance, you’ll need to understand the underlying details involve,d and to help you fully understand those issues, we’ve put together a list of answers to the top questions about whole life insurance. According to a study commissioned by the National Association of Insurance Commissioners, less than half of American consumers feel confident about making insurance decisions, and only 2 out of 5 U.S. consumers feel confident about answering…

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Term Life vs Permanent Life Insurance

Term Life vs Permanent Life Insurance

While it’s controversial among the experts, the question of whether to buy term life insurance or permanent life insurance – and invest the difference – is a key factor in building a successful financial strategy. People who purchase life insurance generally associate themselves into one of two “camps” who prefer one type of insurance to the other. The whole life camp consists of the “True Believers,” to whom buying life insurance is the answer to every…

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How Much Life Insurance Should I Carry?

How Much Life Insurance Should I Carry?

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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