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What Would Happen Without Life Insurance?
Finance / Investing Author: Evan Povich
What Would Happen Without Life Insurance?
It isn't in our nature to think about losing a loved one in the family. Especially the parent.  If something were to happen to one of the working parents it is tough to think about how the family would survive. Funeral preparation and costs now must be taken care of and where would the money come from? Would they be able to pay the bills? Will my kids still go to college? Life insurance provides a buffer of protection that makes it financially easier on the family if there is ever a loss like this.

Life Insurance Online: The "If" In Life

When you have life insurance you don't need to wonder about the "What if? financial consequences. With life insurance you know that your family is protected and that they will be able to manage even if you are not around. Today, I am going to tell you about the benefits of life insurance, how to determine the amount of insurance you will need and I'll even tell you one of the easiest and most convenient ways to get life insurance.

Life Insurance Online How Family Is Affected

The securing the financial protection is the most vital component of having life insurance coverage. Consider the loss of the working parent (that does not have life insurance) and its effect on the family financially. From that day on all the expenses will be the responsibility of the remaining spouse who may or may not be working at that time. Funeral expenses can range from $7k-$10k+. One of the other details you may have overlooked is the possible medical bills that may have arisen before the loss.

If you are the working parent that takes care of the family financially. Just to survive your husband or wife from then on will have the responsibility to bring in the same income or the family may not be able to survive. The kids may be left alone at home while the surviving spouse must work 1 or 2 jobs or extra shifts just to take care of the kids.

With life insurance your family won't have to worry about these things. With the protection of having a life policy you can address the negative results stemming from the loss of the working parent head on. You can give the gift of financial security if something were to happen to the either one of the working spouse(s).

Life Insurance Online: How Much?

Another issue with life insurance is determining just how much insurance you will need to provide for your family. Life insurance is there to make up for the loss of income after your death and should provide for about 20 Ė 30 years of coverage. Take your annual income over 20-30 years to get a good idea of how much life insurance your family needs for protection.

For example you make $50,000 per year. In the event of your death you would want your policy to provide for at least 20 years. So you would want to purchase about $1,000,000 worth of life insurance. You may want to consider including other future costs or expenses to cover just in case something happens to the income provider: credit card debt, car loans, home mortgage, children's college tuition, etc..

When purchasing life insurance be sure to keep your budget in mind, you don't want all of your funds going directly into your insurance payments so choose a plan that is right for you, your family, and your budget.
Considering to buy life insurance is not an easy topic to discuss and at the same time you do not want to have to deal with an insurance agent who's only focus is their commission on selling a policy to you. In order to make a clear cut decision on buying life insurance you need to be relaxed and not pressured into buying a policy. The best and most stress free way to get a life insurance policy is to purchase life insurance online.

When you check life insurance online all the costs, choices, coverage period options are laid out and you can take all the time you want to decide without an agent there watching you make your decision.. You can always sleep on your decision. With the online option you can make more clear and concise decision in your own time. By doing this online you will have the freedom to make the ultimate decision with full privacy. Sometimes insurance agents have the interest of "selling of a policy " rather than your interest at heart so they may be there to address your concerns to focus on the sale. Depending on the insurer you may also be able to buy instant life insurance to print your policy the moment you purchase it.

Never forget that the protection of the family financially is paramount because the result of a tragic loss of the income provider can be devastating

Always remember how important the protection of income is for securing the future of the family. There is absolutely nothing more important than protecting one's family and you can do that with life coverage. So take some time out of your day to look up term life insurance online to take care of your life insurance needs out of the way so you can spend more time with the ones you love.
Total Views: 558 | Approx word count : 921 | 08/25/2010
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