What Should I Consider When I Actually Buy Life Insurance?
Here are some questions to ask yourself:
- How much of the family income do I provide? If I were to die early, how would my survivors, especially my children, get by? Does anyone else depend on me financially, such as a parent, grandparent, brother or sister?
- Do I have children for whom I`d like to set aside money to finish their education in the event of my death?
- How will my family pay final expenses and repay debts after my death?
- Do I have family members or organizations that I would like to leave money?
- Will there be estate taxes to pay after my death?
- How will inflation affect future needs?
Remember to include individual, employer group insurance, veteran`s insurance and any other assets such as savings and investments. Don`t forget Social Security and pension plan survivor`s benefits.
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.
Additional Life Insurance Articles
- What Are Some Important Initial Considerations?
- What Are Some Important Considerations In Choosing My Policy?
- What Is The Right Type Of Life Insurance For Me?
- What Is A Level Term?
- What Is An Annual Or Yearly Renewable Term?
- What Are The Benefits Have Having Term Insurance?
- How Are The Premiums Determined?
- How Do I Select An Agent And A Life Insurance Provider?
- What Should I Do With My Current Policy?
- What Are The Different Types Of Life Insurance Policies?