Life insurance is a critical financial tool that provides financial protection for your loved ones in the event of your untimely death. It can help cover expenses such as funeral costs, mortgage payments, outstanding debts, and everyday living expenses. However, not everyone needs life insurance t...
Universal life insurance is kind of confusing. However, we’re here to demystify it for you. Universal life insurance offers flexible premiums that allow you to pay a different amount based on the cash value of the policy. That’s great because if one year you are having some financial trou...
You may need life insurance if children or other people in your life rely on you financially. Here’s what you need to know.
You may need life insurance if children or other people in your life rely on you financially. Here’s what you need to know.
Understand how much life insurance coverage you need to protect your family, based on Canadian living expenses, education, assets, & more.
“Do you actually need life insurance at all?” If you have a spouse or children, the answer is almost always yes. However, some people who may not need a life insurance policy include: Young singles Low income earners People covered under group insurance ...
Without it you are pretty much stuck using rules of thumb to determine insurance needs. There are only a couple of things I would add to your analysis: 1. It is important to factor in social security survivor benefits, especially for young families. In my case, with three kids from 2-6...
Premium prices for a million dollar life insurance policy vary depending on many factors, including the policyholder's age and health status. Whether the policy is term or whole life also matters, as term life policies will...
Some young people may need life insurance, but it’s perfectly fine to wait until you have children or other dependents, Behr said. “Certainly don’t put it off,” she said; waiting until you’re 55 will have significant costs. “But don’t pay into it for years long...
In general, life insurance is cheaper when you are younger and healthier. Therefore, you should buy it as young as possible if you think that you will need it presently, or in the foreseeable future. For instance, a young couple may buy life insurance right when they become engaged or whe...