Most people with dependents understand the importance of life insurance in their financial plans. Few, however, are methodical or objective in determining the right amount or the right type of life insurance to buy.
Life insurance can provide a much-needed safety net for people who haven’t accumulated lots of assets and whose families depend on their income to survive. The right way to buy life insurance includes a thorough assessment of the following:
When a breadwinner dies, the last thing his or her surviving dependents should have to think about is how they’ll pay the bills. The right amount and right type of life insurance must be in place before it is needed.