Term Life Insurance Questions You Need to Ask Yourself
Decisions…decisions – Sometimes they can be so hard to make! Do I need life insurance? Which is better, term life insurance or whole life insurance? Because these decisions can be complicated, we often don’t ever really decide, and just let things stand as is. If the thought of whether you need life insurance or not, doesn’t bother you, maybe it should! Maybe it should bother you enough to really analyze whether you need it, or not! Don’t worry! Not everyone needs life insurance, so you may fall in that category of the population. But before deciding, you should really ask yourself some important questions.
Does Everyone Need Either Whole Life, or Term Life Insurance?
No, not necessarily! Not everyone needs life insurance. The main reason you buy life insurance, is to protect loved ones that depend on your income. So, term life insurance would replace your lost income for them, if you should pass away. This gives your spouse and children great peace of mind.
If you don’t have any children, and aren’t married, then you probably don’t need either term life insurance, or, whole life insurance. If you are married, and each of you works and earns a decent income, then you probably do need to get some term life insurance quote in anticipation of children or debt obligation.
If you have a child, that child probably doesn’t need any type of life insurance contract in his name, as loss of child is emotional not financial.
Do I Need Term Life insurance if I Don’t Work?
Many people believe that they don’t need any type of life insurance, because they aren’t in the work force. But if something should happen to you, as the stay at home parent, your spouse will have to hire someone, or use some type of care service for your children, and this could cost as much as $20,000 a year, or more.
Will I Ever Need Term Life Insurance?
Hopefully, you won’t ever need it! Because most people who are still in the work are in good health, some people just decide to take their chances, and avoid making a decision with regards to term life insurance or whole life insurance. It’s also why any term life insurance quote you get, if you are still working, will be a small monthly or annual payment. Most term life insurance policies run about $200 a year, if you are in your 20´s and 30´s. You want life insurance, just in case something does happen to you, so that your family will be cared for. You cant ever be sure, that you wont have a car accident, a plane accident, or any type of personal injury accident. You better be prepared. You want to be able to provide well for your family, in the event of something happening to you.
The point is that acting like an ostrich--hiding your head in the sand, and never making a decision on life insurance is not going to get you anywhere. Either you really, need it, or you don’t need it at all. You are the only one that can decide how important it is to you, and whether or not your family is worth providing for, through a term life policy in the event of your passing away.
Does Everyone Need Either Whole Life, or Term Life Insurance?
No, not necessarily! Not everyone needs life insurance. The main reason you buy life insurance, is to protect loved ones that depend on your income. So, term life insurance would replace your lost income for them, if you should pass away. This gives your spouse and children great peace of mind.
If you don’t have any children, and aren’t married, then you probably don’t need either term life insurance, or, whole life insurance. If you are married, and each of you works and earns a decent income, then you probably do need to get some term life insurance quote in anticipation of children or debt obligation.
If you have a child, that child probably doesn’t need any type of life insurance contract in his name, as loss of child is emotional not financial.
Do I Need Term Life insurance if I Don’t Work?
Many people believe that they don’t need any type of life insurance, because they aren’t in the work force. But if something should happen to you, as the stay at home parent, your spouse will have to hire someone, or use some type of care service for your children, and this could cost as much as $20,000 a year, or more.
Will I Ever Need Term Life Insurance?
Hopefully, you won’t ever need it! Because most people who are still in the work are in good health, some people just decide to take their chances, and avoid making a decision with regards to term life insurance or whole life insurance. It’s also why any term life insurance quote you get, if you are still working, will be a small monthly or annual payment. Most term life insurance policies run about $200 a year, if you are in your 20´s and 30´s. You want life insurance, just in case something does happen to you, so that your family will be cared for. You cant ever be sure, that you wont have a car accident, a plane accident, or any type of personal injury accident. You better be prepared. You want to be able to provide well for your family, in the event of something happening to you.
The point is that acting like an ostrich--hiding your head in the sand, and never making a decision on life insurance is not going to get you anywhere. Either you really, need it, or you don’t need it at all. You are the only one that can decide how important it is to you, and whether or not your family is worth providing for, through a term life policy in the event of your passing away.
posted by Ivon T. Hughes at 10:56 AM
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