Articles on Insurance | Topics: insurance, insuring
by Bobbie Zimmerman
I recently did some writing about term life insurance, and I was surprised to learn that most of the insurance policies that people buy are term instead of whole life. I also learned that this was the way to go. Though I could never understand why someone would want term, as it always had an end date whether you were still alive or not, it is actually the best policy for most people. Once I heard the reasons why, I began to understand why.
I would seem that most buy term life insurance because most don’t actually need life insurance in the latter years of their life. If you really think about it, the reasons for this are very simple. You have children and a spouse who depend on you when you are young, and if something were to happen to you, they are going to be out of luck in many cases. If you have a good term life insurance policy, they are going to have some financial help when they need it the most. However, once your children have moved away, and you have retired, you really don’t need to offer that protection any longer. That makes a whole life policy a waste of money for most.
| Bit of History |
We also have to make sure our children know the history of women. Tell them the rotten truth: It wasn’t always possible for women to become doctors or managers or insurance people. Let them be armed with a true picture of the way we want it to be.
| —Anne Roiphe (20th century) |
|
|
Term life insurance can be as short as five years, or you can have one that goes up to thirty years. Most of them are renewable for incremented amounts of time in many cases. You can usually find a type that will not go up in price as you age, but you might pay more initially for that type. You will have to decide what is best for you and how much you want to spend on your policy. It turns out that even though term life insurance might be more per payment in some cases, it is definitely the way to go.
If you have life insurance though your employer, you may not need to get anything else. That will be a personal decision. More can’t hurt though, especially if you have a family to care for. If you are young and free of personal obligations, your term life policy might not be a necessity. However, you do have to remember that if something where to happen to you, your parents will still have to bear the costs. Perhaps a small policy wouldn’t hurt, even if it is just to cover your final expenses so your family won’t have to pay for your burial.
|
We strive to provide
only relevant articles on our website. If
there is a specific topic about insurance that you would like us to cover, please contact us here.
Please note: All personal opinions expressed in the "Term Life Insurance" article belong to the contributing author and are not necessarily shared by BusinessInvestingFinance.com. |
Financial Aid For School
By Ignatia McIntosh
It costs a great deal of money to raise a family. Everything is so very expensive....
New Mexico Real Estate
By Farah Zamora
Finding your spot in this crazy world is no easy task. Now just to be clear on something, I'm not talking about careers or "callings." I was simply referring to the spot where you want to live....
What You Need to Operate a Niche Marketing Site
By Xylia N. Ingram
Before you can sit back and reap the rewards from operating your own niche marketing site, there are a few vital components necessary to create a successful and profitable website: 1) A Product or Service to Sell. Not just any old product, you need to do a little research and find a hungry market....
Health Insurance for Those with Special Needs
By Nita Craft
More than 40 million Americans do not have any kind of health insurance protection, and as a result, are at risk of either not receiving the level of care they should have, or alternately receiving the care and the massive bill that accompanies it. Having adequate health care insurance, whether public or private, in place plays an essential role in making sure medical care is accessible to all Americans....
Your Time is Money How much money are you wasting?
By Brier Valentine
Your Time is Money How much money are you wasting? When you are starting your own business, becoming a partner in a small business, or even doing daily tasks at home, you are investing in something. Through this investment comes the use of time....
Ocean Beach Real Estate
By Ultima Zamora
There's just something about the coast that drives people nuts. They flock to it on a yearly basis in search of warm sand, soothing waves and bright rays of healing sunlight....
|
