Life Insurance 101
Who Needs Life Insurance?
Do you Need Life Insurance?
Life insurance is a method to protect your family or dependents with financial support after you have passed on. Life insurance pays a benefit to the named beneficiary(ies). As time has progressed, it has developed into an estate planning tool that includes tax-free investments and wealth protection.
Who Needs Life Insurance FAQ
You may have questions like when should I purchase life insurance; is it only for people with families? In this section, we will explore various situations that can help you decide. It is always best to consult with a financial advisor prior to purchasing any policies.
Do I need life insurance if I don’t have any dependents?
There are many reasons for securing life insurance. One of them is to take care of funeral and expenses related to a final illness.
When should I buy life insurance?
There are a number of factors that contribute to this answer. Importantly, the younger and healthier you are, the lower the cost will be. Whether you need life insurance includes:
Why you want the coverage
Protect assets, provide for family needs, or to increase wealth.
Starting a business, family issues, buying a home, etc.