How Much Life Insurance Do You Need?
How Much Life Insurance Do You Need? We don’t plan the financial security of our families until we experience uncertainties. Death is inevitable. While nobody likes to dwell on it, it is important to think about the financial security of your dependants at a young age. If you are a sole earner in your family, you need to invest in life insurance to ensure that your family is financially stable when you are not with them. The life insurance policy can pay for your burial and funeral arrangements and help your family meet their financial needs after your death. When buying life insurance, read the policy carefully to see if it covers all your financial needs. The coverage needs vary for every individual. If you have only one dependant and no mortgage, an average term life insurance will do. Likewise, you need more coverage if you have 3-4 dependants. Types of Life Insurance Term life insurance and whole life insurance are the two most popular options for home...