Life Insurance And Major Life Changes
While life insurance can seem like a once-in-a -lifetime decision, there are a number of life events that should cause you to take another look at your life insurance policy to see if it is still right for you and your family. So what should your life insurance policy do for you and your loved ones, and what life events should make you re-evaluate whether your life insurance policy is still right for you?
Factors Affecting Life Insurance Premiums And Qualification
You might never have really thought about what it takes to qualify for a life insurance policy or what affects the premiums you pay. By the time you get around to figuring it out it could be too late. Here are the most important factors that go into determining what you will pay for your life insurance coverage as well as whether or not you will even qualify.
Choosing Your Life Insurance Policy Beneficiaries: Making Sure All Your Loved Ones Are Covered
Choosing the beneficiaries for your life insurance policy is one of the most important decisions you will make. Life insurance is, after all, meant to protect your family and loved ones. While your immediate family may seem to be the obvious choice as your life insurance beneficiary, there may be other people and organizations which rely on you that you do not want to forget. Here are some of the most common—and commonly forgotten—life insurance beneficiaries you need to consider, and tips on how to decide how much you should allocate to each.
How Much Life Insurance Do You Need?
Figuring out how much life insurance you need to carry can be confusing. It really depends on a few factors, and there are a few simple methods you can use to determine how much you should carry. At the most basic, there is a minimum amount of life insurance you should carry if you want those left behind to avoid a struggle. Beyond that, you really can’t have too much insurance, so add more as you can afford it. But remember, the younger you are when you take out your policy, the more affordable it will be.
