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Single people may not purchase life insurance because it is seen as an unnecessary expense.  They wrongly assume that life insurance should only be obtained for married people.  They only consider the money being needed to support the surviving spouse and children with living expenses.  However, our culture and family makeups have changed over the [...]

There are many people who seem to discuss life insurance, as though, everyone understands all of the complexities of it.  This is an unfair assumption for them to have, as many of us do not even understand what life insurance is.  Perhaps some of the following information will help to clear up the issue. Life [...]

This depends on different variables and circumstances. If it is affordable to you, then yes, it is possible you should have life insurance for a number of different reasons. The first and most important reason is for your dependents, such as children, spouses or even elderly parents who are relying on you to provide the [...]

Are there any specific amounts of life insurance that I should buy? Some people would say that you should purchase at least 10 to 30 times the amount of your annual income or some other formula using a multiple of your annual income. Actually, the wisest way to decide on the amount of life insurance [...]

Any number of reasons. It varies from individual to individual, but there are some more common reasons. They include the following: Income replacement or supplement Money to cover future funeral expenses that will be placed on your survivors Money to pay off the debts and bills you might leave behind Money to pay off medical [...]

When looking for life insurance, be aware that there are a few different types of insurance that will pay different benefits. Term life insurance is good only for a certain period of time. The time is set when you purchase the policy. If you cannot afford to spend a lot of money on a policy, [...]

The owner of a life insurance policy is the person that has the legal authority over the policy. As the owner of a policy, you have the authority to make policy changes (e.g. beneficiary changes, coverage changes) and in general manage the policy. In most cases, the insured will be the owner of the policy, [...]

Of course, life insurance companies cannot issue policies to everyone just because they want it. Then you would have terminally ill people purchasing high amounts, not paying very much into the policy, they would die soon after and the insurance company would have to pay out the cash amount of the policy. Generally, the life [...]

Your life insurance requirements are dependent on an overall analysis of your financial situation. A “needs analysis” will help you to determine what type and amount of coverage is most appropriate for your situation. Consult an advisor that will sit down with you and compare your financial assets (e.g. investment accounts, retirement assets, property holdings, [...]

The face value of your life insurance policy is the total value that the purchased policy is worth. This is the amount stated on the paperwork of your policy, and the number specified in the terms. The number can some times fluctuate though, depending on the terms of the policy, and different investments rates the [...]