Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
When purchasing life insurance to cover the life of a bread winner in the family or a business partner at work, it's important to collect information to properly cover your beneficiaries. You need to include all debt, future obligations and your value to earn a living, i.e. how much will you make between now and the time you retire.
When purchasing life insurance, you need to consider:
1) What type of policy you need. This can be Term or Permanent or both.
2) Your budget. Life insurance must be affordable or it will be dropped before the time of need.
3) Your obligations. What you want to use the insurance to cover.
4) The security and integrity of the life insurance company and your agent.
5) The features and guarantees in the policy itself.
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1) What type of policy you need. This can be Term or Permanent or both.
2) Your budget. Life insurance must be affordable or it will be dropped before the time of need.
3) Your obligations. What you want to use the insurance to cover.
4) The security and integrity of the life insurance company and your agent.
5) The features and guarantees in the policy itself.