Question
Why buy life insurance?
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7th May 2010 by Gary B
The only reason to buy life insurance is to take care of your family in case something happens to you unexpectedly. Term insurance is really the only type of life insurance you need to buy, and it will take care of everything your loved ones need when you buy it right. When you have children that's relatively easy to figure out as you normally will end the insurance when they reach a certain age, so you just figure out what they would need to live on until they become adults and buy accordingly. Of course for a spouse you figure out the average age people live to and buy enough to average the amount needed for the rest of their lives.
The only reason to buy life insurance is to take care of your family in case something happens to you unexpectedly. Term insurance is really the only type of life insurance you need to buy, and it will take care of everything your loved ones need when you buy it right. When you have children that's relatively easy to figure out as you normally will end the insurance when they reach a certain age, so you just figure out what they would need to live on until they become adults and buy accordingly. Of course for a spouse you figure out the average age people live to and buy enough to average the amount needed for the rest of their lives.
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9th Nov 2009 In Life Insurance
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Subjects: life insurance,