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One of the most important things you can do as parents is to ensure the financial welfare of your children in the event of your death. Life insurance is the best way, but rest assured that your children are good if you die While we do not want to think that something like that happens, but it did not.

What is Life Insurance

Life insurance is a policy that you can enter with your insurance company, which promises a certain amount to your beneficiary (s) in the event of your death. Usually, the spouse, the other spouse's name, as well as the beneficiaries of their children. Your insurance policy is a contract of life insurance cash value, that on her return, pay a monthly Premium. Premiums usually depend on your age, gender, occupation, medical history and other factors.

There are other types of life insurance that may provide benefits for you and your family while you are still living. This policy may be increased or the cash value is tax deferred basis and can be used for future needs such as retirement or your child's education.

I need life insurance

Earn income for you and your family the opportunity to do many things to buy cars, pay your mortgage, food, clothing, vacations and many other luxuries that you and your family to enjoy. However, in certain situations, you may lose your income, as well as those who depend on your income depends on if any of the following statements are true about you and your family, then it may be a good idea for you to consider life insurance ;

1) you are married and her husband.

2) Do you have children who depend on you.

3) Do you have a parent or relative who is aging, or disable and depends on you.

4) Do you have a sweetheart in your life that you want to provide for:

5) Your 401K retirement plan, retirement savings are not enough security and the future of your sweetheart.

What are my life insurance option

There are four main types of life insurance that can meet the needs of you and your family.

Term Life Insurance

This is the least expensive type of life insurance, and at least initially, the simplest. Term life insurance policies do not accrue cash value, and are fixed over an extended period of time, usually one year 0, and they can be extended in a life insurance policy pays your beneficiary a fixed amount that you even die during this time that your The policy includes: The term life insurance premiums are lowest when you are young and increase as you get Older

Whole life insurance

This type of life insurance is similar to term life insurance, as well as provides cash value. Over time, whole life insurance is generally builds the cash value is tax deferred basis, and some even pay the policy holders a DIVIDEND. This type of life insurance is popular, DOE has monetary value that is available to you or your beneficiaries die before used to supplement retirement funds, or pay for your child's education, whole life insurance can be used for defense, not for the sake of accumulation.

Universal Life Insurance

This type of life insurance is a flexible type of plan: This policy accrue interest and allow the owner to handle death benefits and premiums to their current life situation. You decide the amount of premium universal life insurance, and you miss a payment, it will be deducted from your death benefit. Universal life insurance remains in effect as long as the cash value of your policy may cover.

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Tuesday, November 6, 2012

Life Insurance Basics

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