It is said that death and taxes are certainties in life. I could probably debate both sides of that argument, but lets assume that the death part is indeed certain. How do we protect ourselves form that unfortunate day when we become the dearly departed. The fact is life insurance has become a necessity all its own. I like to refer to it as one of those necessary evils in life. We should provide for our families in the event our demise comes sooner that we expected.
What kind of life insurance you choose is essentially your decision, but you will have many choices form which to make a decision. Some insurance agents will try to market the most expensive product to you in hopes of providing for their own future. Term life insurance is generally les expensive and a huge moneymaker for insurance companies. You pay monthly premiums based on your age and health. You bet you are going to die , the insurance company bets you are going to live, or at least give up on your paying your premiums before you do. However for most people, you should not have any trouble finding an affordable life insurance rate.
Whole life policies actually let you earn a modest rate of return on your investment although your premiums will be higher. The good news is in most cases your premiums are locked in at a rate at the issuance of the policy.
If you have one person that you love or loves you or that you provide for. Find a life insurance policy that works for you and provide for their future. At the very minmum provide enough of a policy to pay for burial expenses, which can be substantial. That’s another article to come later Cheers
