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Tuesday, November 6, 2007

Why Do You Need Life Insurance?

Hi! Everyone has a different need for life insurance. In general, an individual's needs are greatest from the time they start their careers or a family until they reach retirement, when an individuals’ needs for life insurance diminish.

There is really no magic formula to determine how much life insurance you should have. There are however a number of factors that should be considered when estimating how much life insurance you should carry tho and they include:

1. Mortgage Cancellation: -
Term insurance is most popular because it can payoff your home mortgage in the event of your death...eliminating the burden for the loved you left behind.

2. Final Expenses :–
For unpaid hospital bills, funeral expenses, unpaid debts, probate costs, and estate and inheritance taxes.

3. Readjustment Funds: –
An immediate lifestyle adjustment that a family must make when a loved one dies. The family may be forced to move, or the surviving spouse might have to look for a new job. In addition, a working spouse may find it difficult to return to work immediately after the death of a partner. The readjustment fund allows for adequate bereavement due to loss.

4. Supplemental Income: –
After the readjustment period, there should be a consistent income stream to help pay for the family's living expenses, such as mortgage payments, monthly bills, and daycare.

5. Educational Funds :–
Adequate funds should be available for the education of the children. This might include elementary school, high school, college and university.

6. Retirement Funds :–
It is important to ensure adequate funds are available so that the spouse can retire comfortably.

Question is :-
Could your family weather the storm should something happen to you? Well ... Life Insurance can certainly help ensure your family’s future.

However, to those who already have life insurance, it is important to remember too that you should review your life insurance needs annually to account for changes in your family's lifestyle.

Saturday, October 20, 2007

5 Things You Need To Know About Auto Insurance

5 Things You Need To Know About Life Insurance

5 Things You Need To Know About Homeowner's Insurance

Renters, are you covered for theft, fire, liability?

Friday, October 19, 2007

Tips On Buying HomeOwner's Insurance

You Can't Afford To Skip Health Insurance

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